CAC40: up slightly in reduced volumes

Friday 27th December 2024 06:31 AM

The Paris stock market gained almost 0.5% this morning, around 7,320 points, driven by Teleperformance (+2.9%) as well as by the banks with notably +2.1% for Crédit Agricole and +1.7% for BNP Paribas.

Volumes remain extremely low (less than 400 ME traded since the opening), a characteristic of the period of the confectioners’ truce with few participants and little volatility on the markets.

This isolated session, wedged between the Christmas break and the weekend, should not be an exception to the rule since it will be the penultimate full stock market session of the 2024 financial year.

The Parisian market will only open for one and a half sessions at the start of next week, before an early closing at 2:00 p.m. on Tuesday December 31 for the New Year celebrations.

Over the year, the CAC 40 is currently heading towards a decline of around 3.5%, to be compared with a gain of 5.3% for the pan-European STOXX Europe 600 index.

The session promises to be calm in the absence of indicators and news likely to move the financial markets.

Investors should nevertheless react to the better than expected figures for jobless claims published yesterday in the United States, which call into question expectations of aggressive rate cuts by the Fed.

On Thursday, weekly unemployment claims in the United States showed an unexpected drop in the number of job seekers to 219,000, against 225,000 expected.

Following these figures, the major New York indices ended without much trend last night, the Dow Jones having gained barely 0.1% while the S&P 500 and the Nasdaq fell by less than 0.1%.

The bond market appears hesitant in a data-poor context, with the yield on ten-year Treasuries stabilizing below 4.58%.

The foreign exchange markets are also very calm, with the euro moving little against the dollar, in the 1.0415 zone.

In French company news, Voltalia announces the launch of the construction of three new solar parks in the south of France with a total capacity of 25.1 megawatts, including one park with a total power of 10.7 megawatts located on an agricultural wasteland of 15 hectares.

Eramet announces the first production of lithium carbonate from its recently commissioned direct extraction (DLE) plant in Centenario, in the province of Salta in Argentina, three years after the start of its construction.