Paris (AFP)

The Paris Bourse persisted in optimism on Monday at mid-session (+ 2.29%), supported by the good orientation of the American indices before the opening, oil prices and hopes for a global recovery against a backdrop of health respite .

At 1:01 p.m., the CAC 40 index rose by 97.91 points to 4,375.54 points. On Friday, it finished at + 0.11%, but its weekly loss reached 6%.

The Parisian rating opened up sharply and retained its enthusiasm afterwards.

The major Asian stock exchanges were also encouraged on Monday by the continued deconfinements in the world.

Wall Street was on its way to a significantly higher opening. The futures contract for the flagship Dow Jones Industrial Average advanced by 1.60%, the broad S&P 500 index by 1.54% and the Nasdaq, with its high technological coloring, by 1.31%.

"The rebound in oil prices" above 30 dollars for the first time in two months "and the gradual reopening of economies allow the Paris Stock Exchange and other European places to start the week up sharply," observes Franklin Pichard, CEO of Kiplink Finance.

Oil prices were rising on Monday, helped by a supply that is decreasing while the demand-side outlook is improving.

Another encouraging factor, the lifting of the ban on all short positions (short sales) in several European countries, including France on Monday, is also "a sign of greater confidence among regulators in the fact that the bottom was reached "in the markets in February-March, said for his part Neil Wilson, analyst for markets.com.

Equity market insurance, however, contrasts with the darker perception of the bond market and the mounting bad economic news.

After Germany on Friday, Japan fell back into recession for the first time since 2015, with a second quarter in a row of contraction in gross domestic product between January and March.

As for the boss of the American central bank, Jerome Powell, he was both confident but cautious. He estimated Sunday that in the absence of a second wave of contagions, the US economy could restart "from the third quarter" while making a complete return to growth dependent on finding a vaccine.

"Although the number of daily deaths from the virus is at its lowest level since March in most European countries, the lack of an appropriate remedy and the difficulty of assessing the long-term economic damage caused by the viruses "create uncertainty in the markets, notes Pierre Veyret, analyst at ActivTrades.

This "is reflected in the demand for safe haven securities, with the price of gold reaching its highest level in seven years, which clearly indicates that investors are looking to diversify their investments," he said.

Beyond the economic and health risk, the Sino-American rivalries play spoilsports.

Telecom giant Huawei lambasted the Trump administration's latest measures on Monday to hinder the Chinese group's ability to develop semiconductors abroad using U.S. technology.

- Total pulls the odds up-

The mining, energy and automotive sectors were leading the way.

Heavyweight of the rating, Total, benefited (+ 5.90% to 32.69 euros) from the rise in oil and several announcements.

Specifically, "an acquisition transaction in Portugal and the abandonment of an operation that was to be done in Ghana" are seen as positive factors, said AFP Andrea Tuéni, analyst at IG France.

In raw materials, ArcelorMittal gained 4.90% to 8.30 euros.

The automotive sector was jubilant after the government announced a plan to support the automotive sector which will be presented "within 15 days". Renault gained 3.40% to 18.07 euros and Peugeot 2.91% to 11.85 euros.

Airbus advanced 2.25% to 50.42 euros while an aeronautics assistance plan must be announced "before July 1".

© 2020 AFP