The Paris Stock Exchange experienced a small uptick in trading on Friday morning, marking the final trading session of the year, as no significant economic events are scheduled. The futures contract for the flagship CAC 40 index increased by 0.44% at 10:10 am on Friday, rising to 7568.45 points from its modest 0.16% opening. Despite a slight decrease of 0.48% on Thursday, the Paris stock exchange is expected to conclude a successful year with a 16.4% annual increase.
The calmness in the market can be attributed to the situation on Wall Street, where “the recent adverse data, higher than expected unemployment figures, and subdued home sales” have prevented major fluctuations in the US indices, as explained by Stephen Innes, an analyst at SPI Asset Management. These “negative growth surprises” caused US ten-year bond yields to increase on Thursday to 3.85% (9:10 am GMT), contrary to expectations. The French ten-year bond yield also slightly increased, reaching 2.47% on Thursday, after closing at its lowest since December 2022 the day before.
No major indicators are expected during the trading session, except for the inflation data for December for some countries in the Eurozone.
The CAC 40 has had a dynamic year except for China’s market. However, the individual trajectories of some companies within the index are mixed. Alstom has struggled, losing over 46% of its market value for the year due to commercial and financial difficulties. On the other hand, the automotive group Stellantis, formed from the merger of Peugeot-Citroën (PSA) and Fiat-Chrysler (FCA), reported a successful year, with a record net profit of 10.9 billion euros in the first half, representing a 37% year-over-year increase, and its stock soaring by over 60%.
