Several stories circulate about the reasons for this annual closure. HJBC / stock.adobe.com
Global financial markets take a break on Good Friday, although not a public holiday in all countries.
Notice to the stockbrokers, the world stock exchanges will close their doors on the occasion of Good Friday. Only Asia is not concerned. However, this day is not a public holiday in France, for example, so why is the Place de Paris closing? Explanations.
Good Friday is a religious commemoration, marking the day of the crucifixion and death of Jesus Christ. It is a public holiday in many countries such as Germany, Switzerland, or even Canada but not in France except for the departments of Moselle, Bas-Rhin and Haut-Rhin.
Several stories circulate on the reasons for this annual closure: a devastating crash would have occurred on Good Friday or the rental contract of the New York Stock Exchange which would include a special clause. But the most plausible is religious. It would be considered immoral to conduct financial transactions on Good Friday, the day of Christ’s death. This tradition has therefore been perpetuated over the centuries. Explanation confirmed by Euronext, at Figaro.
«This rule is applied across all seven Euronext markets, which cover 25% of equities traded in Europesays the stock exchange. The Paris Stock Exchange is therefore closed for four days, and it will not reopen until Tuesday. On the other hand, the New York Stock Exchange will open on Monday. In 2023, the markets of Paris, Amsterdam and Brussels will also be closed on Labor Day, Christmas, and December 26.
For investors, this closure has no particular consequences, explains Euronext. Simply, no transaction can be made. Something to take a break from the bustle of the markets.
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