The last trading day of the year saw a slight increase in the main index of the Paris Stock Exchange. At 10:10 am on Friday, the CAC 40 futures contract showed a 0.44% increase, standing at 7568.45 points, following a modest opening increase of 0.16%. The market had experienced a 0.48% decrease the previous day. The period between Christmas and New Year’s is typically quiet with many investors on holiday leave. However, the Paris stock market is poised to end one of its most successful years in a decade, with a 16.4% annual growth.
Of note is that Wall Street has also experienced relative tranquility, as recent data on higher-than-expected unemployment figures and lukewarm home sales have kept US stock indices from making significant moves, according to analyst Stephen Innes of SPI AM. Surprise negative growth data has led to a slight rise in US 10-year bond rates, defying earlier expectations. The rate is currently at 3.85% (9:10 am GMT).
Similar trends were seen in French 10-year bond rates, which experienced a slight increase to 2.47% on Thursday, following a record low closing the day before. No major indicators are expected for the current trading session apart from inflation figures for December in certain Eurozone countries.
The CAC 40 had a dynamic year, except for China. However, individual companies within the index had mixed experiences. Alstom, dealing with commercial and financial struggles, saw its stock value plummet by over 46% for the year. A cost reduction plan announced in mid-November included the elimination of 1,500 jobs, accounting for 10% of its commercial and administrative functions. On the other hand, Stellantis, the automotive group born from the 2021 merger of Peugeot-Citroën and Fiat-Chrysler, had a great year. In the first half of the year, the conglomerate reported a record net profit of €10.9 billion (a 37% increase from the previous year) and a strong operating margin of 14.4%, driven by the high prices of its vehicles. As a result, its stock surged by over 60% for the year.
