The Paris stock market is experiencing a slight decline, hovering around 8,085 points. Gains are being fueled by performances from Pernod Ricard, which has risen by 1.4%, and Capgemini, up by 1.1%. However, luxury brands Kering and Hermès are dragging down the indices with declines of 1%. The downturn comes as US markets remain closed for Thanksgiving, with Wall Street set to reopen tomorrow for the shortened “Black Friday” trading session.
Ahead of the festive weekend, US equity markets had a strong showing yesterday, marking the fourth consecutive session of gains. This positive momentum was largely attributed to the growing anticipation of another interest rate cut by the Federal Reserve, scheduled for December 10. The S&P 500 index, during its peak, came remarkably close—within 90 points, or roughly 1.5%—to its record high of 6,920.3 points from late October. While European markets are also performing commendably, they are not as near their recent peaks as their US counterparts. The CAC is currently 3.6% below its recent record, while the DAX is lagging by 5.5% and the EURO STOXX 50 by 4.4%. Despite a pullback in global equities throughout November, many analysts believe this has set the stage for a favorable year-end rally, as historical data suggests that December is typically one of the stronger months for the S&P 500, with average returns ranging from 1.4% to 1.5%.
Today’s economic calendar is light for European traders, primarily because of the US market closure. However, investors are awaiting the release of the minutes from the European Central Bank’s (ECB) latest meeting, which indicated satisfaction with the economic landscape, noting inflation levels nearing targets and modest growth rates. In Germany, consumer sentiment appears relatively stable as the year comes to a close, according to a recent study. The GfK consumer climate index, based on a survey of 2,000 individuals, showed a slight improvement of 0.9 percentage points to -23.2, compared to -24.1 in November, highlighting ongoing concerns about the sluggishness of the country’s economy amid the government’s anticipated support measures.
On the bond market, the 10-year OAT is trading around 3.41%, while the Bund of the same maturity stands at 2.69%. In commodities, Brent crude is stable at approximately $63.10 per barrel. The euro is largely steady against the US dollar, trading at around $1.158.
In corporate news from France, Trigano has reported a significant net profit drop of 36.1%, bringing its total to €239.4 million for fiscal year 2025, translating to earnings of €12.41 per share. Current operating profit also saw a decline of 32.9%, totaling €335.9 million, with revenues down by 6.8% to €3.66 billion. Rémy Cointreau similarly reported a 31.3% decline in group share net profit for the first half of 2025-26, with current operating profit decreasing by 13.6% on an organic basis to €108.7 million.
Meanwhile, Kaleon, focused on enhancing and conserving historical heritage, has successfully completed its initial public offering on both Euronext Growth Milan and Euronext Paris, raising €16.5 million. This figure could reach up to €18 million with the full exercise of the over-allotment option. In another notable corporate move, Prisme.ai, a secure agentic AI platform, has formed a strategic partnership with Bouygues Telecom, aiming to launch a new AI Studio that will streamline AI applications for the telecom operator’s workforce.
