European shares open higher; Fed meeting eyed
FTSE 100 up 0.25%; DAX up 0.81%; CAC 40 up 0.49% (Il Sole 24 Ore Radiocor) - Milan, 29 Apr - European shares opened higher, extending Friday's gains after gains in Asia overnight, with the Stoxx 600 index up 0.32%.
Investors awaited the Federal Reserve's two-day monetary policy meeting starting tomorrow following another hotter-than-expected US inflation reading on Friday.
The US central bank is expected to keep rates on hold on Wednesday, but investors will closely monitor chairman Jerome Powell's press conference for fresh clues on the Fed's policy path.
Traders also continued to monitor fresh earnings reports from European companies including Philips, Vivendi and BBVA as the earnings season continues in full swing.
Germany's latest inflation figures for April are also on tap today.
At 0735 GMT the FTSE 100 was up 0.25% at 8,212 points, hovering at all-time highs as it rose for a ninth straight session, with hopes of a forthcoming interest rate cut from the Bank of England helping lift sentiment.
The Frankfurt DAX was up 0.81% at 18,222 points. The Paris CAC 40 was up 0.49% at 8,127 points, while in Milan the FTSE MIB was up 0.51% at 34,425 points and in Madrid the IBEX 35 was down 0.12% at 11,141 points.
In Paris stock market dealings cash-strapped French IT firm Atos jumped 17.52% after it confirmed the French government had made an offer for three strategically important parts of its business.
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(RADIOCOR) 29-04-24 10:02:51 (0161) 5 NNNN