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European Equities: French Employment and COVID-19 News Updates in Focus

By:
Bob Mason
Published: Dec 27, 2021, 00:31 UTC

A quiet economic calendar, leaves COVID-19 news and the U.S markets to influence. French employment figures should have limited impact on the CAC40.

Cac 40 indice in downtrend mode indicates global economy enter recession

In this article:

Economic Calendar

Monday, 28th December

French Jobseekers Total (Nov)

Thursday, 30th December

Spanish HICP (YoY) (Dec) Prelim

Spanish CPI (YoY) (Dec) Prelim

The Majors

It was a quiet day for the European markets on Friday, with the German, Italian, and Spanish markets closed. On the day, the CAC40 slipped by 0.28% after having risen by 0.77% on Thursday.

There were no major stats to provide the CAC40 with direction. Following the bounce back from Monday’s reversal, some profit taking weighed ahead of the holidays.

Upbeat COVID-19 vaccine news continued to delivered support. Downside risks stemming from the Omicron strain remained, however, tested support on Friday.

The Stats

There were no major stats to provide the CAC40 with direction.

From the U.S

There were no major stats from the U.S, with the U.S markets closed.

The Market Movers

From the CAC, it was a mixed day for the banks. BNP Paribas fell by 0.42%, while Credit Agricole and Soc Gen ended the day up by 0.34% and by 0.40% respectively.

The French auto sector also had a mixed session. Stellantis NV roe by 0.89%, while Renault slipped by 0.08%.

Air France-KLM saw more red, falling by 0.45%, with Airbus SE ending the day down by 0.14%.

On the VIX Index

The U.S markets were closed on Friday.

It was a 3rd consecutive day in the red for the  VIX on Thursday.

Following an 11.33% slide on Wednesday, the VIX fell by 3.60% to end the day at 17.96.

The NASDAQ rose by 0.85% on Thursday, with the Dow and the S&P500 gaining 0.55% and 0.62% respectively.

VIX 241221 Daily Chart

The Day Ahead

It’s a quiet day ahead on the Eurozone’s economic calendar. French employment figures will be in focus early in the European session. We don’t expect the numbers to have a material impact on the European majors, however.

From the U.S, there are no major stats due out, leaving direction to come from the U.S markets and COVID-19 news updates.

The Futures

In the futures markets, at the time of writing, the Dow Mini was up by 12 points.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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