(BFM Bourse) – The Parisian index gained 1% this Friday, December 27, and 1.11% over the entire week limited to three sessions.
The Paris Stock Exchange ends a shortened week on a good note. The CAC 40 rose 1% to 7,355.37 points this Friday, December 27.
Volumes were quite low during this session wedged between the confectioners' truce – the Paris Stock Exchange was closed on December 25 and December 26 – and the weekend before the New Year. Over the week as a whole, the Parisian index rose 1.11%.
The progression of the Parisian index this Friday took place without the support of Wall Street. Shortly before the European close, the S&P 500 fell sharply, losing 1.3%. The American market is weighed down by the decline of its largest capitalizations, Nvidia losing 2.45%, Apple 1.8%, Microsoft 2%, Alphabet 2%, Tesla 3.5% and Meta 1.5%.
Profit-taking may have occurred on these “Magnificent Seven” of Wall Street, who are still having an incredible year in 2024 on the stock market, significantly outperforming the large European groups.
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An inexpensive CAC 40
To return to the CAC 40, its progression was not fueled by any catalyst, the news proving to be 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.
“Investors are expecting additional guarantees from China and the French government,” he continued.
On the value side, there were no major movements on the CAC 40. The banks behaved well, Crédit Agricole SA gained 2.4%, the largest increase in the CAC 40, BNP Paribas gained 1 .7% and Société Générale gained 1.1%.
On other markets, the euro is stable against the dollar at 1.0429 dollars. Oil is rising a little. The February contract on North Sea Brent advanced 1% to $73.60 per barrel while that of the same maturity on WTI listed in New York gained 1.15% to $70.40 per barrel.
Julien Marion – ©2024 BFM Bourse
