The Paris Bourse climbed 0.2% this morning, to around 7585 points, driven by Alstom (+1.9%) and Capgemini (+1.1%). Movements are likely to be limited as the year draws to a close.

With five days to go before the end of the financial year, the CAC 40 index has posted an annual gain of around 17%, one of its best performances of the last ten years, but remains stuck below its resistance level of 7,600 points.

This rise contrasts with the heavy downturn of 2022, due to soaring inflationary pressures and the prospect of tighter monetary policies from the major central banks.

The last few sessions of December are generally quiet, a phenomenon which should be reinforced this year by the shortened week (only three sessions in Paris) between Christmas and New Year.

The trend should nevertheless be supported by the continued rise in US equity markets, which were open yesterday and seem set for a ninth consecutive week of gains.

There are no major economic indicators on today's agenda in either Europe or the United States, and we'll have to wait for tomorrow's release of US jobless claims to learn of the week's only major statistic.

Deprived of guidance, the US bond markets are in no way relinquishing last week's gains: the yield on 10-year Treasuries is even down one basis point to 3.87%.

On the currency markets, the euro continued to recover against the dollar, testing new highs since mid-July at $1.1050/euro (+0.3%), with investors betting that the US Fed will beat the ECB to its first rate cuts.

On the energy front, Brent crude was stable at around $80.9 a barrel.
Gold is still trading at a high of around $2065 an ounce (+0.6%).

In other French company news, Alstom has announced that it will supply Ferrovie del Sud Est, the transport operator for Italy's Puglia region, with two Coradia Stream H hydrogen trains to replace its current diesel trains. These will be the first hydrogen-powered trains in the region.

Neoen announces that it has instructed Nidec to start work on Yllikkälä Power Reserve Two (YPR2). Nidec will be in charge of building the project and supplying the containers, battery cells and inverters.

Finally, Orpea shareholders approved the appointment of a new Board of Directors on Friday, following the arrival of Caisse des Dépôts, CNP, MAIF and MACSF as new shareholders.

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