CAC40: stagnates around 7320 pts in limited volumes

(CercleFinance.com) - The Paris Bourse gained nearly 0.
6%, around 7325 points, driven by Teleperformance (+2.5%), Crédit Agricole (+2.1%) and Stellantis (+1.5%).

The Paris index has been stagnating at this level since this morning, with very low volumes (less than 1 billion euros traded since the opening), typical 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, 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 promises to be calm, in the absence of any indicators or news likely to move the financial markets.

However, investors are likely to react to yesterday's better-than-expected jobless claims figures from the US, which call into question expectations of aggressive rate cuts by the Fed.

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

Following these figures, the major New York indices ended last night with no major trend, the Dow Jones gaining barely 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 at around 4.58%.

Foreign exchange markets are also very calm, with the euro little changed against the dollar, in the $1.0415/E zone.

In French company news, Voltalia reports the launch 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) in Centenario, Salta province, Argentina, three years after construction began.

Finally, ENGIE announces that, via Ocean Winds, its 50-50 joint venture with EDP Renewables dedicated to offshore wind power, it has won a 250 MW floating project from the French Ministry of Industry and Energy, as part of the AO6 call for tenders.

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