Paris (AFP)

The Paris Bourse, focused on progress in Sino-US relations, reached a new closing record on Thursday, ending up 0.41%, close to the threshold of 5,900 points it has not crossed since July 2007.

The CAC 40 index gained 24.25 points to end at 5,890.99 points, in an average trade volume of 4 billion euros.

The Paris rating opened slightly higher and subsequently maintained this trend, climbing to new highs since July 2007 both in closing and session (at 5,894.87 points).

"The market continues its upward trend, encouraged by recent developments in trade negotiations between China and the United States, where it is question of eliminating the taxes that had been put in place on both sides. augurs an agreement that could be signed in the coming weeks ", commented to AFP Daniel Larrouturou, equity manager at Dôm Finance.

"The other point that has driven the market is the continued publication of the results of companies, which were a little mixed according to the values," he added.

Sino-US trade talks remain the focus of markets that have benefited greatly from the announcement of a partial agreement between the two countries.

The announcement Thursday by a spokesman for the Chinese Ministry of Commerce, that the two countries had agreed on a gradual lifting of tariffs on their respective products has further strengthened investors.

In this context, the decline in industrial production in September in Germany and the lowering of growth forecasts for 2019 and 2020 in the euro zone by the European Commission did not dampen enthusiasm.

For its part, the Bank of England announced Thursday to have maintained its interest rate at 0.75% but said it is ready to lower it to support the activity if the uncertainties related to Brexit and the global economic slowdown continue to weigh on the economic situation.

- Banks in good shape -

ArcelorMittal topped the CAC 40 index (+ 6.72% to 15.50 euros) after quarterly results welcomed.

Bank stocks benefited from a sharp rise in interest rates, thanks to a decline in investor risk aversion. Crédit Agricole rose by 3.37% to 12.57 euros, BNP Paribas by 2.95% to 51.34 euros and Societe Generale by 2.85% to 28.69 euros.

Axa took 2.84% to 25 euros, enjoying a 5% increase in sales over the first nine months of the year.

Engie fell by 4.43% to 14.25 euros, investors being disappointed with less dynamic prospects for the business of customer solutions, despite results up nine months.

Legrand fell 1.38% to 69.92 euros despite the confirmation of its annual objectives, after seeing its results significantly increase in the first nine months of the year.

Lagardère rose 5.03% to 20.46 euros, with sales in the third quarter up 5.5%, thanks to good performance of its publishing and distribution activities in the transports.

Veolia lost 1.77% to 22.73 euros.

© 2019 AFP