PARIS (Agefi-Dow Jones) – The Paris stock market is expected to open higher on Thursday, buoyed by encouraging information regarding the impact of the Omicron variant of the coronavirus on the global economy.
At 8:25 am, the CAC 40 index futures contract was gaining 39.5 points, or 0.6%, according to data from broker IG.
“Traders have started to think that Omicron will only slow down economic growth in the short term,” observes Naeem Aslam, analyst at Avatrade.
“In addition, investor confidence is bolstered by reports that booster doses of coronavirus vaccines are likely to offer high protection against the new variant,” as well as the apparent reluctance of US officials to impose new lockdowns like those of 2020, adds the analyst.
In addition, trade volumes should continue to decline as the holidays approach. Many international markets will be closed for Christmas on Friday, while the Paris Bourse will close earlier.
On the business side, the French Ministry of the Armed Forces announced on Wednesday that it had notified Airbus of a contract worth 10 billion euros for the supply of 169 helicopters to the French armed forces. Airbus said for its part that the contract provided for the development of several prototypes and the delivery of a first batch of 30 aircraft. Airbus will also provide the support and training system and ensure maintenance in operational condition.
Engie, for its part, announced on Wednesday that it had completed the sale of 11.5% of GRTgaz’s capital to Société d’Infrastructures Gazières (SIG), an investment vehicle held by CNP Assurances and Caisse des Dépôts, for an amount of 1.1 billion euros. Engie still owns 61% of the gas transmission network operator following this transaction, in accordance with the sale agreement announced at the end of July. SIG now owns nearly 39% of the capital.
-Alice Doré, Agefi-Dow Jones; +33 (0) 1 41 27 47 90; [email protected] ed: LBO
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December 23, 2021 02:30 ET (07:30 GMT)