21.01.202608:59:30UTC+00CAC 40 Holds Near December Lows

On Wednesday, the CAC 40 showed minimal movement, settling around 8,060 and maintaining its lowest point since December 10th. This occurred as investors remained wary amid rising tensions between Europe and the United States regarding Greenland, coupled with a surge in global bond yields. In response, Paris has officially requested NATO to conduct a military exercise near Greenland, affirming its willingness to participate.

Meanwhile, UK luxury brand Burberry surpassed expectations for holiday sales growth, providing a boost to European luxury stocks. LVMH increased by 1.7%, Kering rose by 1.4%, and Hermès saw a gain of 0.3%. More broadly, Edenred experienced a notable rise of 8.5%, Pernod Ricard increased by 3.8%, and Renault climbed 2.8%. Conversely, Danone faced a significant decline, falling by 8.0% and leading the losses. French banks also saw a decline, with Societe Generale down by 1.6%, BNP Paribas dropping by 0.8%, and Credit Agricole decreasing by 0.2%.