Paris (AFP)

The Paris Stock Exchange ended up Tuesday (+ 1.43%), reassured by the decline in coronavirus in Europe and confident in the support of central banks just before a meeting of the Fed and the ECB.

The CAC 40 index rose by 64.53 points to 4,569.79 points. The day before, it had already finished in clear rebound (+ 2.55%).

After opening up to break even, the Parisian rating gradually increased its gains.

"European markets are favored by the slowdown in the expansion of the pandemic on the continent and are optimistic while awaiting new decisions from central banks", before the Fed meeting on Tuesday and Wednesday and then that of the ECB Thursday, said AFP Daniel Larrouturou, an analyst from Dôm Finance.

While the virus has killed more than 211,000 people on the planet, central banks are indeed on the front line in an attempt to mitigate the economic shocks linked to containment.

The American central bank announced Monday that it wants to inject an additional $ 500 billion into its program to support local entities in the face of the coronavirus crisis.

Its monetary committee meets Tuesday and Wednesday. The market does not expect any announcements on rates but is feverishly awaiting the outlook for the American economy with damage already visible in the indicators, as shown by the marked deterioration in consumer confidence in the United States in April, published on Tuesday.

The prospect of a start to deconfinement also helped.

Encouraged by a slowdown in contamination, several European countries and a dozen American states have thus started, in dispersed order and sometimes in controversy, a prudent way out of confinement.

After Italy on Sunday, Spain and France presented their plans on Tuesday.

"The rise in oil prices" during the day also offered support, noted Larrouturou.

In addition, according to him, "the results of companies turned out overall less dramatic than the forecasts of the investors. The impact is harsh, of course, but it seems generally manageable".

The banking sector thus benefited in particular from the publication of the accounts of the Swiss bank UBS, marked by an increasing net profit, he added.

In this context, "the investors were rather inclined to take risks", according to the expert.

- Banks in shape -

The banks had a good session. BNP Paribas took 6.51% to 29.60 euros, Société Générale 4.20% to 14.80 euros and Crédit Agricole 6.14% to 7.26 euros.

Capgemini jumped 7.87% to 85 euros while the group, which has given up making financial forecasts for 2020, maintained sales up 2.3% in the first quarter, and expects a second quarter 2020 difficult.

The oil sector held up well like Total (+ 1.69% to 32.80 euros) and TechnipFMC (+ 2.90% to 7.30 euros).

Lagardère gained 2.14% to 15.77 euros after Vivendi (-1.61% to 19.62 euros), which now owns more than 10% of the group, said it would continue to buy securities without intending to take control of it or influence strategy.

Capgemini jumped 7.87% to 85 euros while the group, which has given up making financial forecasts for 2020, maintained sales up 2.3% in the first quarter, and expects a second quarter 2020 difficult.

© 2020 AFP