This calm period between the year-end holidays naturally gives market professionals time to reflect on the year coming to a close and to ponder the outlook for the one ahead.

"Resilient macroeconomic conditions, earnings growth driven by AI, and accommodative monetary policy have generated double-digit returns in developed markets," Swiss Life Asset Managers summarized a few days ago.

SLAM more broadly noted "solid gains for global equities in 2025 despite volatility," even though "trade tensions and geopolitical risks triggered intermittent corrections" over the course of the year.

Thus, at this stage, the CAC 40 shows a gain of about 9.8% since January 1, although it has underperformed the pan-European STOXX Europe 600 index (up around 16%) and the benchmark American S&P 500 index (up 17.8%).

According to SLAM, "2026 should be the fourth consecutive year of solid returns." "Strong monetary and fiscal support, as well as resilient GDP and earnings growth, explain the 6% to 12% target for global equities," it stated.

While awaiting the new year, the week looks set to be especially quiet as macroeconomic data will be scarce, at least until Friday, when the manufacturing PMI indices for Europe and the United States are released.

In company news, Alstom has signed a contract to supply 47 DMU passenger trains to Mexico, including 33 long-distance trains and 14 suburban trains, a contract valued at around €920 million.

Atos Group has reached a binding agreement to sell its South American operations, currently employing around 2,800 professionals in Brazil, Argentina, Chile, Colombia, Uruguay, and Peru, to Semantix.