Paris (AFP)

The Paris Bourse recovered on Thursday (+ 0.70%), driven by Wall Street, which was catching up the day before by ignoring US statistics degraded.

The CAC 40 index rose by 38.51 points to end at 5,557.41 points, in a trade volume of 3.5 billion euros. The day before, he had finished almost stable (+ 0.14%).

The Parisian rating opened slightly lower before gaining confidence in the morning and accelerate the pace in the afternoon in the wake of the US.

"The European market, rather badly oriented this morning, follows the American market which opened with fanfare," observes Alexandre Baradez, an analyst at IG France.

"The US market is catching up yesterday partly because US statistics (ISM, PMI, construction spending) are all lower than previous figures," he adds, interviewed by AFP.

As a result, growth in US manufacturing activity (ISM) slowed further in July to reach its lowest level since the summer of 2016.

Instead of selling a news that is not good, "part of the market buys the wrong statistics by following the reasoning that bad news means a Fed that will lower its rates" again this year, says the expert.

US markets fell back on Wednesday as the US Federal Reserve (Fed) had done the minimum compared to expectations by lowering its key rate by a quarter of a point, easing its policy for the first time since 2008.

His boss Jerome Powell sowed some confusion by saying that it was possible to make further rate cuts this year while stressing that this was not the beginning of a long cycle of easing.

Elsewhere, in terms of indicators, activity in the French manufacturing sector contracted in July, according to the PMI index.

- Societe Generale leads the dance -

On the securities front, Societe Generale overtook the CAC 40 (+ 5.83% to 23.50 euros) after strengthening its financial base in the second quarter, reassuring the market on its own funds.

ALD, a subsidiary of Société Générale specializing in fleet management and long-term leasing of vehicles, jumped 7.85% to 14.56 euros after a stable net profit (+ 0.2%) in the first quarter. semester.

Arkema rose 5.17% to 85.92 euros after confirming its 2019 forecasts.

Euronext advanced 3.73% to 72.35 euros, benefiting from a turnover that has grown beyond expectations and improved profitability in the second quarter.

ArcelorMittal fell by 1.49% to 14.30 euros, with a net loss of 447 million dollars in the second quarter.

Axa traded 1.16% to 23.17 euros after posting strong first-half results on Thursday, despite exceptional charges that lowered its bottom line.

Veolia fell by 2.54% to 22.27 euros after signing the sale for 1.25 billion dollars of its heating and cooling networks in the United States and realized in the first half net profit up 46.5%.

© 2019 AFP