PARIS, Jun 8 (Reuters) – Europe’s major stock markets traded cautiously on Thursday morning, with investors eyeing next week’s Federal Reserve (Fed) and European Central Bank (ECB) meetings.

In Paris, around 08:00 GMT, the CAC 40 lost 0.05% to 7,198.95 points. In London, the FTSE 100 nibbles 0.01% and in Frankfurt, the Dax grabs 0.03%.

The EuroStoxx 50 Index fell 0.15%, the FTSEurofirst 300 0.01% and the Stoxx 600 0.14%.

For their part, futures contracts on indices in the United States are pointing to a modest decline on Wall Street the day after a session marked by profit-taking, particularly in the new technology space.

Investors are awaiting decisions from the Fed and ECB on June 14-15 as surprise rate hikes by the Central Bank of Australia (RBA) and Bank of Canada (BoC) this week increased uncertainty over the scenario of an imminent end to the Central bank have increased current monetary tightening cycle.

In bond markets, yields are slightly stretching, with German 10-year bonds gaining around 2 basis points to 2.454%, while 2-year bonds briefly touched the 3% threshold for the first time since March 15th.

The yield on 10-year US Treasury bonds

also advances, to 3.7973%.

The new technology segment in Europe (-1.1%) records the largest decline in the Stoxx 600 after the previous day’s sharp decline in the Nasdaq. In Paris, Capgemini (-1.56%) is at the bottom of the CAC40 while it is at the SBF120

After the publication of the annual results, Soitec is in the red.

Novartis, which rose 0.63%, is benefiting from the company’s announcements that its soon-to-be split Sandoz generics business is expected to generate $3 billion in additional net sales over the next five years. (Written by Claude Chendjou, edited by Kate Entringer)