Surpassing a 1.5 percent increase, the CAC-40 experienced significant growth due to positive results in the luxury sector. This surge was largely instigated by the renowned luxury brand LVMH, which reported encouraging results. The boost in the consumer confidence indicator, which surpassed expectations, also contributed to the positive market sentiment.
Earlier in the day, INSEE - France's National Institute of Statistics and Economic Studies, posted data showing a rise in the nation's consumer confidence indicator. It increased from a reading of 89 the previous month to 91 in January. The market had anticipated a reading of 90.
Presently, the CAC-40 is trading at 7,590.71, experiencing a 1.69 percent increase from the prior close of 7,464.20. The trading range for the day has oscillated between 7,553.65 and 7,588.09. Of the 40 stocks within the index, only 11 are currently trading negatively.
LVMH demonstrated the most significant gains with an 8.1 percent increase, bolstered by impressive 2023 results. Pernod Ricard made substantial gains too, rallying by 6.8 percent. Kering experienced a 3.6 percent jump, and Hermes International saw a 2.8 percent increase. Other companies such as Vivendi, TotalEnergies, L'Oreal, Saint Gobain, Alstom, and Carrefour all accrued gains exceeding one percent.
The largest decline can be attributed to STMicroelectronics, with a decrease of 3.6 percent. Close on its heels is Capgemini, which reported losses of 0.92 percent.
The Dollar Index has minimally declined by 0.06 percent, falling from 103.57 one day earlier to the current value of 103.52. The EUR/USD also recorded a slight decrease of 0.07 percent, currently standing at 1.0838.
Following the worldwide decline in bond yields last Friday, France's ten-year bond yields have slightly decreased by 0.65 percent, now standing at 2.755%. This is a minor drop from the previous day's yield of 2.773 percent.
