(CercleFinance.com) – After jumping 2.2% yesterday, the Paris stock market added +0.6% and thus garnered +2.8% in 2 sessions, one of the most beautiful bullish sequences since mid-September (the annual score reached +1.5%, this is quite unexpected given the economic situation and political uncertainties).
The CAC40 erases the resistance of 7,480 then approaches 7,500 points, notably supported by URW (+2%) then the inevitable Schneider (+1.5%) and Sanofi.
No impulse will come from Wall Street (by 5:35 p.m.) which is closed this January 7 (commemoration day in honor of Jimmy Carter, who died at the age of 100), everything seems to have happened with the publication of a ‘ good’ annual inflation rate in the eurozone: it is estimated – as expected – 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, even if Wall Street will remain closed, investors have taken note of the United States trade deficit: it increased to 78.2 billion dollars in November, compared to that of 73.6 billion the previous month ( which was revised slightly from an initial estimate of $73.8 billion), according to the Commerce Department.
This 6.2% increase in the deficit from one month to the next results from a 3.4% increase in American imports of goods and services, to 351.6 billion dollars, therefore surpassing an increase of 2. 7% of exports, at 273.4 billion.
Another figure closely followed in the US is the growth in activity in the service sector in the United States which accelerated more than expected in December, shows the monthly survey from the Institute for Supply Management (ISM ) published Tuesday.
The ISM services index rose to 54.1 from 52.1 the previous month, while economists on average expected a figure of 53.5.
The indicator is above the threshold of 50 points reflecting growth in activity for the 52nd time in 55 months, that is to say since the recovery following the Covid epidemic which started in June 2020.
The sub-index measuring activity in the tertiary sector rose to 58.2 from 53.7 in November, while that of new contracts improved to 54.2 from 53.7 the previous month.
That of employment fell to 51.4 against 51.5 in November, prices paid having accelerated to 64.4 after 58.2.
The Euro has reversed course against the greenback since the publication of the ISM: it has fallen from 1.042$/E towards 1.0370, or -0.15 to -0.2%.
On bonds, after a very good session the day before, our OATs erased their gains with +4Pts at 3.3040%, Bunds posted +3Pt) at 2.478%, British ‘Gilts’ continue to sink into the crisis : nothing is going well with a ’10 years’ which exceeds 4.7350%, the worst score for 25 years (in fact since 1998).
On the oil markets, Brent prices are climbing +% towards $77 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.
