The Paris Stock Market is anticipated to maintain equilibrium prior to an upcoming long weekend closure, marking the conclusion of one of its most successful years in the past ten years.
As of forty minutes before the commencement of the trading session, the CAC 40 is forecasted to experience a 0.08% increase. This trend mirrors the movements of Wall Street from the preceding day and aligns with expectations of a tranquil day in the markets leading into the long weekend, with trading set to resume in 2024.
On Thursday, the CAC 40 index registered a 36.66-point decline, ultimately closing at 7,535.16 points. With the holiday season between Christmas and New Year typically characterized by reduced investor activity, the Parisian market is poised to culminate one of its most prosperous years in a decade, having achieved a 16.4% upturn.
The subdued market activity can be attributed to the situation in Wall Street, where adverse data, higher-than-expected unemployment rates, and lackluster home sales have served to mitigate major fluctuations in American indices. According to analyst Stephen Innes of SPI AM, these “negative growth surprises” unexpectedly led to an increase in U.S. ten-year bond yields, reaching 3.83%.
Consequently, the French ten-year bond yield also experienced a slight upturn on Thursday, reaching 2.47% following the closure of the previous day at its lowest level since December 2022. Notable indicators expected during the trading session include December’s inflation in certain countries within the eurozone, such as Spain, which will be closely monitored by the market.
In summary, the Paris Stock Market is set for a subdued day as it approaches the end of a remarkable year amidst relatively stable global conditions. With investors preparing for the holiday season, attention will shift to forthcoming economic indicators and their potential impact on the market.
