(News Bulletin 247) – The flagship Parisian index ends down for the last full session of the year 2024. The CAC 40 closes down almost 0.6%, undermining a strong trend on Wall Street.
The end of the stock market year is tinged with red on the Paris Stock Exchange, and this in low volumes with less than 2 billion euros exchanged. For this last full session of the year 2024, the CAC 40 closed down 0.57%, returning 7,300 points to 7,313.56 points.
Without direction in the first part of the session, the Parisian index opted for a decline in the wake of Wall Street which is in sharp decline this Monday. The three major American indices fell between 1% and 1.5% at the close of the European markets.
“We are witnessing profit-taking at the end of a very successful year. (…) There are only two days of trading left in the year and sales are numerous,” Adam commented to AFP Sarhan, of 50 Park Investments.
These profit-taking concerns in particular the “Magnificent Seven” of Wall Street, who are still having an incredible year in 2024 on the stock market, significantly outperforming the large European groups.
This Monday, Apple lost 1.4%, Microsoft 2%, Alphabet 1.2%, Tesla 2.25%, Meta 1.3% and Amazon 1.4%. Nvdia manages to survive, gaining 0.6%.
Boeing lost another 2.1% the day after the crash of a Jeju Air 737-800 plane in South Korea, killing 179 people out of 181 passengers. South Korea also launched on Monday a “full inspection” of all Boeing 737-800s used by the country’s airlines after the air disaster.
L’Oréal is the red lantern of the CAC 40
On the values side in Paris, very few significant movements to report this Monday. Engie and Orange gained 0.6%, while Orange increased by 0.5%.
Conversely, L’Oréal (-2.1%), STMicroelectronics and Edenred (-1.5%) recorded the most pronounced declines in the flagship Parisian index.
On the SBF 120, Maurel and Prom (+2.6%), Elior Group (+2.2%) and Dassault Aviation (+1.6%) occupy the leading trio at the close.
On other markets, the euro lost 0.4% against the dollar to 1.0382 dollars. Oil is growing. The February contract on North Sea Brent advanced 0.6% to $74.21 per barrel while that of the same maturity on WTI listed in New York gained 0.8% to $71.18 per barrel.
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