European indices, technology is rising | Image credit: Shutterstock
PARIS, April 29 (Reuters) – European stock markets rose early in the session on Friday after Wall Street and Chinese markets, a rebound in technology prices, rejected a mixed announcement from Apple and disappointing forecasts from Amazon, as well. than the French economy’s unpredictability in the first quarter. In Paris, the CAC 40 gained 1.12% to 6,581.18 points at 07:45 GMT, the highest for the week. In London, the FTSE 100 takes 0.39% and in Frankfurt, the Dax advances by 1.14%. EuroStoxx 50 index is 1.28%, FTSEurofirst 300 0.82% and Stoxx 600 1.02%. The tech sector rose 2.13% on the heels of the Nasdaq’s 3.06% rebound, its biggest gain since March 16, after better-than-expected results from Meta Platform. After Wall Street’s close, however, Amazon lost nearly 10% based on results and forecasts below market expectations. And Apple gave up more than 2% after a cautious forecast that obscured quarterly results. On the macro front, French indicators at the start of the day showed that gross domestic product (GDP) was stable in the first three months of the year and that inflation was higher than expected in April, at 5.4%. standards. Investors are now waiting for the first estimate of German GDP in euros and the first inflation figure in the euro zone for the month ending. In terms of results, the best performance of the CAC 40 is that of Saint-Gobain, which takes 3.36% after the quarterly review, while SEB offers 3.91% after “significantly reducing” its activities. The biggest increase in the Stoxx 600 belongs to Dutch Prosus, the main owner of Chinese Tencent, which jumped 9.84% after media reports on negotiations between Washington and Beijing on the listing of Chinese companies on Wall Street. China’s markets also benefited from promises of new economic stimulus measures from the Political Bureau of the Communist Party. The SSE Composite Index of the Shanghai Stock Exchange ended with a gain of 2.41%. (Written by Marc Angrand, edited by Matthieu Protard)
