The Paris stock market ended the final session of the week with a gain of 1.32%, at 7,526 points, driven in particular by the luxury goods sector, with +3.3% for LVMH, +2.6% for Kering and +1.5% for Hermès.

The Parisian index gained nearly 2.5% over the past week, and more than 16% since the start of the year.

It is now just fifty points shy of its all-time closing record (7581 points), despite US employment figures that took analysts by surprise and testified to the surprising resilience of the American economy.

Indeed, the much-awaited monthly US employment report, published at 2.30pm by the Labor Department, revealed 199,000 new non-farm jobs in November, compared with the consensus forecast of +145,000/+150,000. At the same time, the unemployment rate fell sharply (-0.2%) to 3.7%, where markets were targeting 4%.

These data, well above expectations, will complicate the Federal Reserve's task of recalibrating its monetary policy. As a result, the Fed's December 13 speech (the final FOMC statement) may turn out to be more hawkish than Wall Street had hoped.

As a result, bonds are under considerable pressure, with the US 10-year yield up 13 basis points at 4.2540%. It's not much better in the Eurozone, with Bunds +8pts to 2.2760% and our OATs +9pts to 2.836.

Against this backdrop, the euro is down -0.4% against the greenback, at around $1.075. Brent crude rose by 1.6% to $75.8 a barrel, buoyed by the solid US employment report, which somewhat allayed fears about global demand.

In French company news, Airbus announced that Cathay Group, already one of the biggest operators of the A350, has become the latest airline to order its brand-new A350F, following the signing of a purchase contract for six aircraft.

In addition, Airbus Flight Academy Europe, Airbus' civil and military pilot training subsidiary, announces that it has received its first Elixir training aircraft, which are more fuel-efficient and quieter, as part of its sustainable development strategy.

ArcelorMittal announces that it has finalized the sale of ArcelorMittal Temirtau, its Kazakh steel and mining subsidiary, to Qazaqstan Investment Corporation (QIC), an investment fund controlled by the Kazakh state.

Euronext announced last night that Vivendi shares would be returning to the CAC 40 index, six months after having left it, a decision that saw the stock climb by more than 2.3% on the Paris Bourse on Friday.


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