(BFM Bourse) – The Parisian index rose mid-session this Friday, supported by the banks. Trading volumes are, however, sluggish.
Stuck between Christmas and the weekend before the New Year, the session of this Friday, December 27 will probably not go down in the stock market annals
The CAC 40, however, rose a little, gaining 0.38% at midday, to 7,310.27 points, in obviously restricted volumes.
The Parisian square was closed on December 25 and 26 due to Christmas celebrations and therefore resumed its activity this Friday. Catalysts are lacking, however, with the news proving sparse.
The only “advantage” that the Parisian market has: it has significantly underperformed its major counterparts and is therefore cheap. This can potentially encourage investors to position themselves at the end of the year.
“The CAC 40 is not expensive and has a good dividend yield (around 3%). As it has underperformed the American market and other European indices, I don't think it can collapse But it is not about to rebound strongly either,” Alexandre Baradez, head of market analysis at IG France, explained to BFM Bourse on Tuesday.
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The Tokyo Stock Exchange in good shape
“Investors are expecting additional guarantees from China and the French government,” he continued.
Note that the Tokyo Stock Exchange made good progress this Friday, with the Nikkei 225 ending up 1.8%, after gaining 1.1% the day before. These increases followed an intervention by the Governor of the Bank of Japan (BoJ), Kazuo Ueda, on Wednesday. The central banker then avoided sending clear signals regarding a rate increase at the next BoJ meeting on January 23. Which put the yen under pressure against the dollar.
In Japan, again, Toyota gained more than 12% in three sessions, supported by press information reporting that the company's management planned to almost double the profitability of its equity.
As for Parisian stocks, there are no major movements on the CAC 40. The banks are well oriented, Crédit Agricole SA taking 2.5%, BNP Paribas 1.6% and Société Générale 1.3%.
On other markets, the euro fell 0.1% against the dollar to 1.0415 dollars. Oil is rising a little. The February contract on Brent from the North Sea advanced 0.37% to 73.12 dollars per barrel while that of the same maturity on WTI listed in New York gained 0.49% to 69.96 dollars per barrel.
Julien Marion – ©2024 BFM Bourse
