(CercleFinance.com) – After jumping 2.2% yesterday, the Paris stock market continues its upward momentum more timidly and gains some 0.5% this morning, towards 7480 points, notably supported by URW (+2, 6%) and Pernod Ricard (+1.5%).
Investors were feverishly waiting for 11 a.m. to learn of two important statistics concerning the euro zone.
Thus, the annual inflation rate in the eurozone is estimated at 2.4% in December 2024, compared to 2.2% in November according to a rapid estimate published by Eurostat, the statistical office of the European Union.
Looking at the main components of eurozone inflation, services are expected to see the highest annual rate in December (4.0%, compared to 3.9% in November), followed by food, alcohol & tobacco (2.7%, stable compared to November), industrial goods excluding energy (0.5%, compared to 0.6% in November) and energy (0.1%, compared to -2, 0% in November).
Furthermore, in November 2024, the seasonally adjusted unemployment rate in the eurozone was 6.3%, stable compared to the rate recorded in October 2024 and down compared to the rate of 6.5% recorded in November 2023.
The EU unemployment rate was 5.9% in November 2024, also stable compared to the rate recorded in October 2024 and down from the rate of 6.1% recorded in November 2023.
Across the Atlantic, the ISM services indicator for December will be published at 4 p.m. This should show that activity continues to expand in the tertiary sector in the USA, largely offsetting the weakness of activity in industry.
A sign of investors’ caution, Wall Street ended in disarray on Monday, the euphoria surrounding technology stocks not being able to offset the weakness in consumer-related stocks.
‘We have reached the point where we should perhaps reduce our exposure to the most cyclical sectors, whose stock market dynamics have largely exceeded the quality of their fundamentals,’ we warn at Danske Bank.
With the return of the appetite for risk and relief on trade issues, the euro regains some momentum (+0.3%) against the greenback, at $1.042/E.
On the oil markets, Brent prices fell 0.25%, to 76 dollars per barrel.
In French company news, Spie announces the appointment of Evert Lemmen to the position of Managing Director of Spie Nederland and, as such, member of the group’s executive committee, effective February 1, 2025, succeeding in these functions to Lieve Declercq.
EDF announces the success of its multi-tranche senior bond issue for a nominal amount of $1.9 billion, an operation which allows it to finance its strategy and its objective of contributing to achieving carbon neutrality by to 2050.
