Paris (AFP)

The Paris Stock Exchange was still sailing in the green on Wednesday morning (+ 2.71%), after its take-off from the previous day, supported by an agreement in the United States on a plan to support the American economy by $ 2.000 billion facing to the coronavirus crisis.

At 09:50, the CAC 40 index took 115.12 points to 4.357.82 points. The day before, it had climbed 8.39%.

The market started the session up "in the wake of the best day for the Dow Jones since 1933, its largest advance (in points) in its history and the largest volume ever known", explained in a note John Plassard , investment specialist at Mirabaud.

The flagship Wall Street index, the Dow Jones Industrial Average soared 11.37%. You have to go back to March 15, 1933 to find traces of such a high percentage increase in one session.

The Parisian market also took off on Tuesday, stimulated by the new burst of measures announced by the American central bank. These measures include unlimited purchase of bonds as well as various mechanisms for direct assistance to businesses, including SMEs.

"Icing on the cake, a compromise was signed overnight (Tuesday to Wednesday, editor's note) between Democrats and Republicans on a plan to support the US economy of $ 2,000 billion in the face of the coronavirus pandemic", a underlined Mr. Plassard.

While the world's largest economy has probably already entered a recession, these measures will mobilize around 2,000 billion dollars. The official text, and its precise figures, had not been published when the agreement was announced.

Voting time has yet to be set on Wednesday. This plan will then have to be adopted by the House of Representatives, controlled by the Democrats, before being promulgated by the American president, Donald Trump.

According to Michael Hewson, an analyst at CMC Markets, the market is increasingly "optimistic" about government action. "Politicians are beginning to understand the scale of the economic downturn that is coming, as the death toll continues to rise in Europe and the United States," he said.

On the other hand, European finance ministers failed to agree on Tuesday on new coordinated measures to support the economy, leaving it to their leaders to decide the best options in the face of the shock caused by the coronavirus.

In terms of values, Renault rose 3.77% to 18.64 euros. The French automaker announced on Tuesday the shutdown "until further notice" of all its production sites in Latin America due to the coronavirus, after taking similar measures in Europe and India.

Altice Europe soared 13.70% to 4.15 euros, after posting sales up 5.5% in 2019 to 14.8 billion euros. The group plans to improve its financial indicators in 2020 despite the coronavirus.

SMCP, parent company of the Sandro, Maje and Claudie Pierlot brands, jumped 18.32% to 4.30 euros. The group announced Wednesday, on the sidelines of its annual results, expect a turnover "down just over 20%", because of the coronavirus pandemic.

© 2020 AFP