CAC40: up slightly in low volumes

(CercleFinance.com) - The Paris Bourse gained almost 0.
5% this morning, around 7320 points, driven by Teleperformance (+2.9%) and the banks, with Crédit Agricole up 2.1% and BNP Paribas up 1.7%.

Volumes remained extremely low (less than 400 ME traded since the opening), a characteristic of the "trêve des confiseurs" period, with few players and little volatility on the markets.

This isolated session, sandwiched between the Christmas break and the weekend, should be no exception to the rule, as it will be the penultimate full trading session of the 2024 financial year.

The Paris market will only open for one and a half sessions early next week, before closing early at 2:00 pm on Tuesday December 31 for the New Year celebrations.

For the year as a whole, the CAC 40 is currently heading for a decline of around 3.5%, compared with a 5.3% gain for the pan-European STOXX Europe 600 index.

The session looks set to be a quiet one, with no indicators or news likely to move the financial markets.

Investors are nevertheless likely to react to the better-than-expected jobless claims figures published yesterday in the USA, which called into question expectations of aggressive rate cuts by the Fed.

On Thursday, weekly jobless claims in the USA showed an unexpected drop in the number of jobseekers to 219,000, compared with 225,000 expected.

Following these figures, the major New York indices ended last night with no major trend, the Dow Jones gaining just 0.1%, while the S&P 500 and Nasdaq were down by less than 0.1%.

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

Foreign exchange markets were also very quiet, with the euro little changed against the dollar, in the 1.0415 zone.

In French company news, Voltalia announced the start of construction of three new solar farms in the south of France with a total capacity of 25.1 megawatts, including a 10.7-megawatt farm located on a 15-hectare agricultural wasteland.

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

Copyright (c) 2024 CercleFinance.com. All rights reserved.