Paris (AFP)

The Paris Bourse was in an optimistic mood Tuesday morning (+ 1.53%), the market hanging on to encouraging signs on the spread of the coronavirus in Italy, where the progression of new positive cases identified has never been so weak.

At 09:32 (07:32 GMT), the CAC 40 index took 66.78 points to 4.445.29 points. On Monday, it had gained 0.62%.

The Paris market has opened up "in the wake of information that new cases of contamination by coronavirus in Italy have reached the lowest in 2 weeks," noted John Plassard, investment specialist at Mirabaud Securities.

But "the nervousness of investors" is according to him "always very palpable".

The balance sheet of the epidemic increased again on Monday, with nearly 37,000 deaths worldwide, the milestone of 11,000 dead crossed in Italy, that of 3,000 exceeded in the United States, another 812 new deaths in 24 hours in Spain and 418, a record, in France.

Italy, however, recorded new encouraging signs of contagion on Monday, after nearly three weeks of containment of its population. The increase in new positive cases has never been lower, with an increase of + 4%, half as much as four days ago (8.3%) and four times less than a fortnight ago.

The G20 finance ministers are to meet by videoconference on Tuesday with the aim of strengthening their measures in the face of this global crisis. The twenty economic powers have said they are ready to inject $ 5,000 billion into the world economy, while forecasts point to a deep recession.

"Markets prefer to hang on to hope that growth will return as quickly as the downturn has appeared even as more companies threaten to lay off in large numbers and others say they will run out cash in the coming weeks or months, "said Vincent Boy, market analyst at IG France.

In terms of indicators, manufacturing activity in China, which had collapsed in February, experienced a surprise rebound in March despite the coronavirus, but the World Bank is now alarmed by a risk of zero growth for the second economy world.

Industrial production in Japan increased slightly again in February (+ 0.4% over a month) but its fall is likely to be brutal in March due to the impact of the coronavirus pandemic.

In France, the rise in consumer prices slowed sharply in March and household consumption expenditure fell slightly in February, according to INSEE.

Also to be followed in the United States, the manufacturing activity index for the Chicago region as well as consumer confidence for the month of March.

- JCDecaux well oriented -

Among the stocks, l'Oréal sold 0.89% to 244.10 euros, affected by the downward revision of its sales in the first quarter of around 5% over a year and the suspension of its annual financial targets, in the context of the Covid-19 epidemic.

JCDecaux jumped 4.79% to 16.42 euros. The group announced "the acquisition of a minority stake" of 23% in the advertising group in Chinese transport Clear Media, so far controlled by Clear Channel Outdoor, its main global competitor.

EssilorLuxottica rose 0.89% to 100.30 euros. The group has appointed a new managing director for Essilor, noting the need to accelerate the integration between Essilor and Luxottica.

ArcelorMittal took 1.83% to 8.12 euros, after relaunching the activity on its steel sheet production site of Montataire (Oise), where it will notably supply a coffin manufacturer.

Vranken-Pommery fell 0.36% to 13.80 euros, weighed down by a significant drop in income, suffering from the effects of the Food law.

Euronext climbed 5.07% to 70.40 euros. The European stock exchange operator has given up making a takeover bid for the Madrid Stock Exchange, leaving the field open to its Swiss competitor Six Group.

© 2020 AFP