(CercleFinance.com) – The Paris Stock Exchange ended this first session of the week with a moderate decline of 0.37%, to 7,568 points, notably penalized by the declines of Bouygues (-3%), STMicro (-2.8 %) and Kering (-2.5%). Note that other luxury stocks such as LVMH and Hermès are also in contraction with -0.9% and -1.3% respectively.
The market is taking a break after the 7-week straight line rebound since the end of October.
‘After having signed a new closing record at 7,596.9 points, logic would dictate that the CAC 40 should experience profit taking this week’, indicated this morning Christopher Dembik, investment strategy advisor at Pictet AM.
‘The context is favorable: there is no meeting on the side of the major central banks, few statistics apart from inflation figures in the euro zone and the United Kingdom and declining volumes due to the approach holidays’, added the analyst.
If the week could provide investors with the opportunity to make their final portfolio adjustments before the end of the financial year, they should also be keen to preserve the exceptional gains recorded in recent weeks, and over the course of the year. the year 2023 in general.
Since January 1, the CAC 40 has posted a gain of around 17%, its fourth best annual performance in ten years…
On the economic front, disappointment this morning with the IFO index: the morale of German entrepreneurs fell from 87.2 to 86.4 in December against all expectations, while the consensus was on the contrary counting on a figure rising towards 87.8 .
Concerning the bond compartment, the 10-year T-Bonds are moving around 3.95%, while the German Bund, a benchmark in the euro zone, is moving around 2.07%.
On the statistics front, the week promises to be calm. The main data expected, the figures for American household income and expenditure will be published on Thursday (they include the ‘PCE’ inflation index closely followed by the Fed).
The barrel of Brent gained 2.1%, around $78.5 per barrel, and the euro gained 0.2% against the greenback, around $1.091/euro.
In French company news, Renault Group announces the finalization of the operation announced on June 26, consisting of the investment of 200 million euros in the capital of Alpine Racing Ltd by Otro Capital, as part of a stake of 24%.
Eiffage announces that it has won, in a consortium with eight architectural firms, the contract awarded by the Société du Grand Paris for the design and construction of a section of line 15 East of the Grand Paris Express. The overall amount, for this section between the Bobigny-Pablo Picasso and Champigny Center stations, amounts to 2.54 billion euros.
Airbus says Qantas has taken delivery of its first next-generation A220, making the Australian airline the 20th operator to receive the new aircraft. It will leave the Mirabel assembly line in the coming days to reach Sydney.
The Casino group and the Groupement Les Mousquetaires and Auchan Retail announce that they have entered into exclusive negotiations today with a view to a proposed sale by the Casino group of almost the entire scope of hypermarkets and supermarkets of the Casino group to the benefit of the Groupement Les Mousquetaires and Auchan Retail.
Finally, the European Commission approved the acquisition of exclusive control of Banque Degroof Petercam, based in Belgium, by CA Indosuez, controlled by the Crédit Agricole group.
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