CAC 40 Holds Near December Lows
The CAC 40 edged little changed around 8,060 on Wednesday, holding its lowest level since December 10, as investors remained cautious amid escalating tensions between Europe and the US over Greenland and a surge in global bond yields. Paris has formally requested NATO to conduct a military exercise near Greenland and confirmed its readiness to participate. UK luxury brand Burberry exceeded holiday sales growth expectations, lifting European luxury stocks, with LVMH (+1.7%), Kering (+1.4%), and Hermès (+0.3%). Broader gains were recorded in Edenred (+8.5%), Pernod Ricard (+3.8%), and Renault (+2.8%). On the downside, Danone plunged 8.0%, leading the losses, while French banks retreated, with Societe Generale (-1.6%), BNP Paribas (-0.8%), and Credit Agricole (-0.2%).
DAX Stays on Guard
The DAX 40 edged down 0.2% to 24,600 on Wednesday, marking the fourth consecutive session of declines, as traders remained concerned about a potential trade war between the US and Europe. Caution prevailed ahead of US President Donald Trump’s speech at the World Economic Forum in Davos amid renewed uncertainty over his tariff threats. Banks and financials were among the top losers, with Deutsche Bank and Commerzbank falling 1.8% and 1%, respectively. Allianz also saw pressure, down 0.9%. Other top decliners included Bayer (-1.7%) and Siemens Energy (-1%). Qiagen NV, however, surged 4% after reports that the company is evaluating strategic options after new takeover interest, with Agilent and Danaher cited as potential buyers.
