Paris (AFP)

The Paris Stock Exchange continued to rebound on Wednesday (+ 0.49%), investors taking advantage of good economic publications and the Fed's wait to catch their breath, even if the fears aroused by the Chinese coronavirus remained whole.

The CAC 40 index gained 29.07 points to 5,954.89 points, in an average trading volume of 3.6 billion euros. The day before, it had finished on a clear progression (+ 1.07%).

It is a "small technical rebound without any fundamental reason" insofar as what has made the market down lately has not disappeared, namely "health fear also impacting global growth", commented with AFP Mikaël Jacoby, head of continental Europe brokerage at Oddo BHF Securities.

The director of emergency programs of the World Health Organization (WHO) Wednesday called the "whole world to act" against the new coronavirus, which has killed 132 people since its appearance in late December in China, and contaminated more than 6,000 people.

While most of these contaminations took place in China, around fifteen countries are also affected. Sign of a tightening of precautionary measures abroad, two airlines also suspended their flights to mainland China on Wednesday.

The director general of WHO, returning from Beijing, announced Wednesday that he would again convene Thursday the emergency committee on the coronavirus appeared in China, to determine whether the epidemic constitutes or not international alert.

"We are facing fears that will probably give us volatility in the long term," added Mr. Jacoby.

"But in the short term", some investors have passed buyers ahead of the decision of the Federal Reserve (Fed), betting on "a possible change in monetary policy, which is unlikely," he said.

Macroeconomics also contributed to the slight rebound in the market.

In Germany, the government has raised its growth forecasts for 2020, counting on an increase in gross domestic product of 1.1%, against 1% previously announced.

And consumer sentiment should improve slightly in February, a sign of renewed optimism around the economic situation in the leading European economy, according to the GfK barometer.

In France, the household confidence index rebounded in January after falling in December.

In the United States, the promises of home sales fell in December, while analysts expected an increase.

- New boss for Renault -

On the securities front, the luxury giant LVMH fell 1.07% to 407.60 euros despite a new record annual turnover, the market lingering on the slowdown in sales growth in the last quarter and on the potential impact of the coronavirus epidemic on the group's activity.

Airbus advanced by 1.73% to 136.56 euros after having concluded an "agreement in principle" with the British, French and American judicial authorities, and indicated that it would provision 3.6 billion euros to pay the fines and avoid thus prosecutions for alleged acts of corruption.

Renault rose 1.66% to 36.15 euros, driven by the appointment of the former boss of Seat (Volkswagen group) Luca de Meo as general manager.

Pierre et Vacances climbed for its part from 10.25% to 24.20 euros, the loss-making group since 2011 aiming at a return to profitability from 2021.

© 2020 AFP