The Paris Stock Exchange closed modestly in the green on Tuesday, largely thanks to a rally in luxury conglomerate Kering, though the market remained cautious ahead of several high‑profile earnings reports and US economic indicators.
The benchmark CAC 40 rose 4.60 points to 8,327.88, a modest 0.06% gain after a 0.60% increase the day before.
Kering powered the index higher, jumping more than 10% to €288 after the company announced an annual profit that was almost ten times higher than the previous year and a surprisingly resilient fourth‑quarter performance.
“The market is fairly well‑positioned today,” said market analyst Nicolas Budin, noting that the CAC 40 is now flirting with its historical highs. “We’re in an earnings‑driven phase, so reactions can be sharp while the market stays under a bit of pressure,” he added.
Investors are gearing up for a busy Wednesday, with earnings from TotalEnergies and Dassault Systèmes slated for release before the market opens.
On the macro side, traders are keeping a close eye on a slate of US data this week. December retail sales in the United States held steady despite the holiday season, yet the Paris market barely budged.
Later in the week, U.S. employment figures on Wednesday and inflation numbers on Friday will take centre stage, as they influence the Federal Reserve’s next policy moves. Lower inflation and weaker hiring could persuade the Fed to cut rates, a scenario generally supportive of equities.
In the bond market, France’s ten‑year government yield slipped to 3.40% on Tuesday, down from 3.44% the previous day.
ArcelorMittal confirmed its commitment to France by unveiling plans for Europe’s largest electric steel furnace in Dunkirk. The project, worth €1.3 billion, will have a capacity of two million tonnes of steel per year and is expected to start operations around 2029.