Posted on Dec 28, 2019 2021 at 11:35Updated 28 Dec. 2021 at 18:07
There is an air of celebration in the markets at the end of the year. Global stock indexes stormed their records again in December, ignoring the Omicron surge. On the Paris Bourse, the CAC 40 climbed 0.57% to 7.181 points on Tuesday, a new historic record. It jumped 6.8% this month, its biggest gain of the year, and more than 29% overall in 2021.
The day before, the American S & P 500 index had already set an all-time high, while the Dow Jones was close to its own. Both were on track to register new peaks at the time of the close in Europe. The explosion in the number of contaminations around the world has obviously not dampened investor appetite for risk, even if volumes remain limited during this holiday season.
Omicron leaves investors unmoved
It must be said that the measures taken to contain the epidemic do not seem likely to call into question the economic dynamic. In France, Prime Minister Jean Castex has thus ordered greater use of teleworking , but refrained from imposing travel restrictions like the curfews or confinements put in place to fight against previous waves.
On the other hand, the markets can hope that this is “perhaps the last big wave” and be reassured with “the prospects for herd immunity, the treatments, the vaccination and the fact that even if the cases progress, mortality, in particular that linked to Omicron, remains relatively contained, ”explains Florence Barjou of Lyxor AM.
Eurofins leaps, Unibail-Rodamco-Westfield stalls
The progression of the variant is not completely ignored by investors. On the Paris Stock Exchange, the giant of biomedical analysis laboratories Eurofins Scientific has jumped 5% since the appearance of Omicron at the end of November, while the commercial property Unibail-Rodamco-Westfield, operator of large shopping centers, has given up more than 8% over the period.
Investors are however confident in the recovery of activity in the months and years to come. Schneider Electric was thus awarded for its ambitious financial goals between 2022 and 2024, presented at the end of November. The title of the French industrialist specializing in automation and energy transition jumped nearly 10% in December, to a new all-time high.