The Paris Stock Exchange ended Wednesday with virtually no change, concluding a shortened week due to the Christmas holidays. The CAC 40 index finished at 8,103.58 points, a marginal decrease of 0.27 points, with an exceptionally low trading volume of 485 million euros. The exchange closed at 2 PM instead of its usual 5:30 PM, and will resume activity on Monday.
Quiet Trading Ahead of Christmas Break
The Parisian market concludes this week with a slight decline of 0.59%. Ipek Ozkardeskaya, an analyst at Swissquote Bank, commented, “The year is almost over, and traders are partly already on holiday. Investors have largely reshuffled their portfolios, and many have closed their positions to move on.”
Despite the current quiet period, Ozkardeskaya noted that “if history serves as a guide, the famous ‘Christmas rally’ – the last five sessions of the year and the first two of the new year – could generate approximately 1.5% in additional gains” for global equities.
Since January 1st, the CAC 40 has shown a progression of 9.79%, which is significantly lower than the more than 30% increase seen in Milan and over 20% in London and Frankfurt. Madrid, on the other hand, has experienced a nearly 50% jump since the beginning of the year.
Sanofi Expands with Dynavax Acquisition
In other news, French pharmaceutical giant Sanofi (-0.39% at 81.93 euros) announced on Wednesday the signing of an agreement to acquire the American company Dynavax. Dynavax is notably known for commercializing a hepatitis B vaccine for adults.
Under the terms of the agreement, Sanofi will launch an all-cash tender offer to acquire all outstanding shares of Dynavax, a US-listed company, at a price of $15.50 per share. This transaction values Dynavax at approximately $2.2 billion, according to the French laboratory.
This acquisition marks a strategic move for Sanofi to strengthen its vaccine portfolio and expand its presence in the global health market.
Other Economic and Social Highlights
While the stock market remained quiet, other events unfolded. Farmers in the Southwest of France continued their protests, with some roadblocks lifted but others persisting, especially on major highways, despite government calls for a “Christmas truce” [france24.com](https://www.france24.com/fr/info-en-continu/20251219-col%C3%A8re-agricole-autoroutes-toujours-coup%C3%A9es-dans-le-sud-ouest-%C3%A0-l-approche-des-vacances). The Louvre Museum in Paris, still reeling from a burglary on October 19, saw its staff continue their strike over working conditions, leading to partial closures of the museum [leparisien.fr](https://www.leparisien.fr/paris-75/musee-du-louvre-la-greve-se-poursuit-letablissement-partiellement-ouvert-ce-jeudi-18-12-2025-GB7OEMV33ZHTHG2IR2VPLPKAOI.php), [france24.com](https://www.france24.com/fr/france/20251217-salari%C3%A9s-mus%C3%A9e-louvre-votent-reconduction-gr%C3%A8ve-tourisme), [france24.com](https://www.france24.com/fr/info-en-continu/20251217-gr%C3%A8ve-au-louvre-nouvelle-ag-du-personnel-la-r%C3%A9ouverture-du-mus%C3%A9e-en-jeu). The European Central Bank (ECB) maintained its key interest rate at 2% for the fourth consecutive time, while raising its growth forecasts for the Eurozone for 2025 and the next two years [france24.com](https://www.france24.com/fr/info-en-continu/20251218-la-bourse-de-paris-en-hausse-entre-bce-et-inflation).
Source: AFP, Euronext CAC40
