Buoyed by luxury goods, the Paris stock market closes higher 
AFP – The Paris Bourse closed up 1.04%, particularly driven by luxury goods after signals of easing health restrictions in China.
The CAC 40 gained 69.58 points to 6,738.67 points. For the month of November, the index jumped 7.5%, after gaining 8.75% in October.
“What is important today in a rising market is in particular the performance of the luxury sector, which is up sharply, this is explained in particular by the easing of measures against Covid-19 in China following the protest movement,” said Harry Wolhandler, head of equity management at Meeschaert Amilton AM.
In the Chinese metropolis of Guangzhou, where demonstrations for more freedoms were held, several districts lifted restrictions in some confined areas on Wednesday afternoon, according to announcements by the authorities.
But “markets are also taking a wait-and-see approach ahead of Jerome Powell’s speech, hoping for a less hawkish speech (in favor of strict monetary tightening, editor’s note), and the release of the U.S. unemployment rate on Friday,” Harry Wolhandler continued.
[…]
Featured photo : © Press
What's Your Reaction?
