CAC40: below 6650 pts, 5th consecutive session of decline

( – Since Friday, December 2, the Parisian index has concluded each session in red, declines which nevertheless remain slight and often anecdotal. And this Thursday was no exception: at the final gong the Parisian index conceded 0.2% to 6647 points.

The addition of these small daily declines still brings the index’s contraction to 1.52% over the past five days.

The Paris Stock Exchange failed to take advantage of the rebound at work on Wall Street where the Nasdaq gained +1% ahead of the S&P500 and the Dow Jones (+0.6%).

In the absence of catalysts, the bullish momentum of the past few months is clearly running out of steam. As a reminder, Paris had concluded last week an eighth week of consecutive increases…
While global stock markets generally tend to rise in the last month of the year (notably thanks to balance sheet dressings), some strategists believe that most of the rebound has already materialized in recent weeks.

In this context, investors could be tempted to sell the winning stocks and start positioning themselves in the sectors deemed the most promising as 2023 approaches.

On the statistics front, the only publication on the agenda concerned registrations for unemployment benefits in the United States. These stood at 230,000, up 4,000, in line with expectations.
In addition, our OATs tightened by +5Pts towards 2.2940%, the Bunds by +4Pts towards 1.827% and the Italian BTPs by +8Pts towards 3.694%.

On the other side of the Atlantic, the T-Bonds deteriorated by 5Pts to 3.458%, which takes a little on the wrong foot those who followed the positive signal of a pullback below 3.50%, the former zenith of mid-June .

The euro is still picking up some color against the greenback and is now trading against $1.0554 (+0.4%).
The barrel of Brent is trading against $77.1 (stable), while the barrel of WTI is at $72.6 (+0.3%).

Finally, in securities news, Vinci Airports announces that it has finalized the purchase from Fintech of a 29.99% stake in the capital of OMA (‘Grupo Aeroportuario del Centro Norte’) for a total amount of 1.17 billion dollars.

Voltalia and its partner TAQA Arabia have signed a memorandum of understanding with the Egyptian government to develop, finance and operate a complex combining the production of green hydrogen with the production of solar and wind energy.

BNP Paribas Asset Management announces today the acquisition of a majority stake in the International Woodland Company (‘IWC’), based in Denmark and specialized in natural resources.

Ocean Winds, Engie’s 50/50 joint venture with EDP Renewables and dedicated to offshore wind power, wins an area for a floating offshore wind site in the United States, with a capacity of 2 GW and assigned by the Bureau of Ocean Energy Management (BOEM).

ArcelorMittal on Thursday inaugurated its Carbon Capture and Utilization (CCU) project in Ghent, Belgium, a €200 million project that is a first for the European steel industry.

Finally, Pernod Ricard has announced that it will invest €238 million over five years to build a state-of-the-art distillery in Marion County (Kentucky) for Jefferson’s, its growing bourbon brand.

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