900 points over which he had yet settled much of the session

Estimating their price, with some felt the potential to increase markets limited in the end of December. It was few cases of the willingness of operators to participate in a traditional year-end rally, to be late, is not less remar quable. While stock trampled over the past several weeks, they returned suddenly to the onslaught of their highest levels of the year in ultimate balance wrapping operations.

In the wake of Wall Street, which seemed to want to again test the symbolic threshold of 10,500 points already touched upon a week ago the European stock exchanges significantly grew in the past two sessions. A increase of slightly more than 2 registered Monday, the Paris stock exchange, by automotive and technology sectors to is awarded yesterday a supplementary 0.68 gain, with an index CAC 40 who missed little fence bar highly psychological 3.900 points over which he had yet settled much of the session.

Obviously, the operators want to finish the year in beauty and reinforce a rebound that, since the flow of the spring, allowed them to regain about 60. Wanting to believe in the strength of economic recovery which signals are still very tenuous, they cling to any statistics as soon as it is abundant in their meaning. Rather than to take into account a final figure of the American growth in the third quarter below expectations at 2.2, instead of the expected 2.8, they preferred retaining the good news from the real estate sector, where the former housing sales increased 7.4 in November, the highest growth rate since the month of February, 2007i.e. before broke the mortgage credit crisis. This statistics has particularly appreciated because, in the opinion of analysts, it suggests a continuation of the increase in sales of housing in 2010 in the United States after the expiry of the economic recovery program, although the pace will be perhaps a little slowed by the difficulties encountered in the US market of employment.

More great volatility

In the absence of actual new negative, markets are therefore likely to continue their momentum in the coming sessions. The reduction of volumes of Exchange at the approach of the year-end holidays, with its procession of closing days or shortened sessions, advocates for greater volatility, which should be favourable to the indices if no negative element is disturbing. In this regard, investors also appreciated yesterday that the rating agency Moody's has eventually degraded the note of the debt of the Greece that a notch, then its counterparts Fitch and Standard & Poor's had reduced it by two notches last week, following the strong concerns about the financial situation of the country.

Beyond the end-of-year rally which seems to become, analysts and managers begin to tendered their arguments relating to the year 2010. The most optimistic ensure that markets are now in a stock market recovery configuration that anticipates the coming economic recovery. Also do they not hesitate to bet on next year likely to still reserve them of good surprises. But from there to consider as exceptional as that registered this year, performance there is a step to be sure, not to cross.