(BFM Bourse) – Without much enthusiasm, the Parisian index nibbled 0.04% to 7571.82 points in a sluggish market this Wednesday.
As might have been feared, the Paris Stock Exchange lacked energy this Wednesday. At the end of a four-day break, December 25 and 26 being synonymous with closure for the European markets, the CAC 40 ended down 0.04% at 7571.82 points.
After moving quite clearly in the green during the first part of the day, the Parisian index lost a little momentum during the afternoon, hardly helped by the contrasting developments on Wall Street. Shortly before the European close, the Dow Jones Industrial Average gained 0.1% while the S&P 500 lost 0.07% and the Nasdaq Composite lost 0.12%.
The market navigates by sight in the absence of news and statistics that can guide its direction. “The day begins with the S&P 500 index less than half a percent of its all-time high after Tuesday’s solid gains,” emphasized Schwab analysts, cited by AFP. “Nevertheless, there is little catalytic element to help him achieve this given the rather thin news from the holiday period,” they lamented.
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Casino on the rise
The trend was somewhat supported by the decline in bond yields. The rate on the 10-year German bond stood at 1.901% compared to 1.964% on Friday evening.
On the value side, the low volumes and the fall in rates resulted in the jump in scrapped stocks, such as Casino (+11.8%), Orpea (+11.18%) or Voltalia (+ 3.9%).
Oil and oil services groups benefited from the rise in oil prices, with a barrel of Brent crossing the $80 mark on Tuesday. CGG advanced 3.8% while Vallourec gained 0.4%. Vallourec also announced the sale of land in Germany for an amount of 39 million euros.
Ubisoft fell 1.6% as the group indicated that it had been the victim of an attempted cyber attack.
On other markets, the euro advanced 0.7% against the dollar, to 1.1120 dollars. Oil fell this Wednesday after having increased significantly the day before, due to continued attacks in the Red Sea. The February contract on Brent from the North Sea lost 0.8% to 80.17 dollars per barrel while that of the same maturity on WTI listed in New York lost 1.06% to 74.78 dollars per barrel.
Julien Marion – ©2023 BFM Bourse