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If the Paris Stock Exchange closed up 0.37% on Monday, waiting for the continuation of negotiations on Brexit and the economic recovery plan in the United States, the luxury group Kering for its part sold 1.64% to 564.10 euros.
Since the beginning of December, the company has posted the third biggest drop in the CAC 40, investors being a little less confident about the prospects of recovery, notably for the flagship brand Gucci.
On the contrary, a heavyweight on the stock market, LVMH has pulled the Parisian index upwards with a 1.76% increase to €509.20. Hermès was also favoured by investors (+1.15% to 844.60).
Paris cautiously optimistic
The CAC 40 index gained 20.29 points to end the session at 5,527.84. On Friday, it had lost 0.76%.
The Parisian rating once again ran out of steam at the end of the session, whereas it had been hovering around 5,560 points for most of the day.
The start of the listing was mainly driven by a «catch-up» from the end of the previous week “where after holding up well, the market had retreated a little”, analyses Thierry Claudé, manager of Kiplink Finance.
To fuel the recovery, investors were able to rely on the further postponement of negotiations on post-Brexit relations between the European Union and the United Kingdom.
The two parties decided on Sunday to extend the deadline for discussions, having failed to reach an agreement by the previously set deadline. The United Kingdom is due to formally leave the EU on 31 December.
In the United States, a New York nurse was the first person on Monday to receive an injection of the vaccine developed by Pfizer and German biotech company BioNTech. The event marked the launch of an extensive vaccination campaign against Covid-19.
Negotiations continued on an economic stimulus package in the United States, with the hope of seeing a legislative proposal passed within the week on the consensual issues.
The markets «are still digesting the strong bull rally of November,» Claudé added.
«Nobody wants to invest with 15 days to go before the end of the year, so investments can be postponed to January. All the more so as the year has been very volatile and to end it between 5,500 and 5,600 points was unexpected for a long time,» he adds.
Finally, investors are waiting for the last meeting of the year of the US Federal Reserve, scheduled for mid-week.
Read also > LUXURY AUTOMOBILE : FERRARI ACCELERATES IN THE THIRD QUARTER
Featured Photo : © Kering[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
If the Paris Stock Exchange closed up 0.37% on Monday, waiting for the continuation of negotiations on Brexit and the economic recovery plan in the United States, the luxury group Kering for its part sold 1.64% to 564.10 euros.
Since the beginning of December, the company has posted the third biggest drop in the CAC 40, investors being a little less confident about the prospects of recovery, notably for the flagship brand Gucci.
On the contrary, a heavyweight on the stock market, LVMH has pulled the Parisian index upwards with a 1.76% increase to €509.20. Hermès was also favoured by investors (+1.15% to 844.60).
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If the Paris Stock Exchange closed up 0.37% on Monday, waiting for the continuation of negotiations on Brexit and the economic recovery plan in the United States, the luxury group Kering for its part sold 1.64% to 564.10 euros.
Since the beginning of December, the company has posted the third biggest drop in the CAC 40, investors being a little less confident about the prospects of recovery, notably for the flagship brand Gucci.
On the contrary, a heavyweight on the stock market, LVMH has pulled the Parisian index upwards with a 1.76% increase to €509.20. Hermès was also favoured by investors (+1.15% to 844.60).
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