(CercleFinance.com) – The CAC will be missing a dozen points (+0.3% to 7,556) to end this (shortened) week in the green.
For 13 sessions now, the index has been moving within a narrow corridor of 7530 to 7600 points.
Such stability of the Parisian market (range of 1% amplitude) may seem supernatural but above all it illustrates the power of ‘algorithmic control’, in a context of evaporation of volumes (with 560MnsE exchanged 30Mn from the closing).
Over the whole of 2023, the best performances in the index go to Stellantis (+59%), Saint-Gobain (+45%) and Publicis (+41%), while Alstom (-47%) and Teleperformance (-40%) are among the bottom performers in the index.
Emblematically, it is the luxury sector (LVMH, Kering and Hermès) which keeps Paris afloat while Wall Street consolidates by -0.2 or -3%, which does not compromise the materialization of a 9th week consecutive increase (with a margin of +0.5 to +0.6%, which should be enough for this final stock market day, shortened this Friday).
The ‘S&P’ (-0.2%) has seen only one session of decline in 2 months at -1.5% on December 20 (and no other higher than -0.8%)… followed of five consecutive positive sessions, four of which gave rise to an annual intraday record.
In a note published last night, Dan Ives, the star analyst at Wedbush Securities, once again said he expects a further increase of around 25% in major American technology stocks next year (the ‘fantastic 7’). + some semiconductors), which would constitute an undeniable engine for global equity markets.
Note that these ‘fantastic 7’ gain +103% this year (equally weighted) and provide 90% of the performance of the S&P500, a concentration never seen in a century, and John D Rockefeller’s Standard Oil before 1911.
On the bond side, the year ends with a clear consolidation on our OATs with +8.3 points at 2.554%, +8.2 points on Bunds at 2.022%, +10.5 points on Italian BTPs at 3.7070%. .. but only +1Pts on US T-Bonds at 3.862%.
On the foreign exchange market, the dollar is regaining some color but its surge remains modest and the breakout of multiple supports this week is not invalidated.
The euro is currently stable against the greenback, (-0.05%) around $1.1060/euro, and remains above the former resistance of 1.1030.
Note that WTI is recovering by +0.5% towards $72.1 per barrel.
In French company news, Voltalia announces the sale of 100% of the capital of its operating wind farms in Sarry (23.1 megawatts) and Molinons (10 megawatts). With a total capacity of 33.1 megawatts, they are located in Burgundy-Franche-Comté.
Clariane announces the finalization of its second real estate partnership with Crédit Agricole Assurances, for a total amount of 90 million euros, a partnership covering 11 assets in the United Kingdom with a gross value of around 227 million euros. , excluding duties.
Finally, Carmat announced last night a software improvement to ‘significantly’ strengthen the safety profile of its Aeson artificial heart.
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