Paris (AFP)

The Paris Bourse resumed its march forward on Wednesday (+ 0.80%), still carried by hopes of a cure for Covid-19 and on the eve of the opening of the summit of central bank leaders.

The CAC 40 index gained 40.16 points to 5,048.43 points. The day before, it had ended almost in balance (+ 0.01%), after a sharp rise on Monday.

The progression at the start of the week, due to hopes for a medical remedy against Covid-19, is still "the underlying trend", according to AFP Mikaël Jacoby, head of continental Europe brokerage at Oddo Securities.

Despite reservations by the World Health Organization on emergency blood plasma treatment authorized in the United States and the many obstacles in the way of a vaccine, markets are hoping for a quick return to normal for the economy.

The progression of the Paris index is however on very low volumes, 1.8 billion euros, and a "no man's land" of information on the news of the companies, points out Mr. Jacoby.

- "Clarification" from the Fed -

The macroeconomic agenda will be a little denser Thursday and Friday with the Jackson Hole Symposium, a major annual meeting of central bankers, which will take place by interposed screen.

The markets especially expect "clarification" during the speech of the President of the US Federal Reserve (Fed), according to John Plassard, investment specialist for Mirabaud Securities.

Beyond that, "we are not really in a political context where it is possible to envisage a hard change of course on the part of the Fed", the American presidential election approaching, nuance Mr. Jacoby.

Caution was called for during the morning, before macroeconomic news from the United States accelerated the rise.

Durable goods orders in the United States rose sharply in July, for the third straight month after the April plunge.

In France, consumer sentiment stabilized in August after falling in July.

Also, the number of unemployed continued to decline in July thanks to the recovery in economic activity, although it remains more than half a million higher than in February.

Prime Minister Jean Castex unveiled some guidelines for the recovery plan, which will finally be presented on Thursday, September 3.

It will be a “stimulus through supply and investment”, and not through demand, of which “at least a quarter” of the planned 100 billion euros will benefit SMEs and VSEs.

The current conditions of partial unemployment benefit will be extended by one month, and will hold "at least until November 1".

- Technology still driving -

Tech companies continued to support the uptrend, in the wake of the US tech Nasdaq index, which rose at the start of the session, and improves its valuation record every day.

Atos gained 3.67% to 74.60 euros, STMicroelectronics 2.65% to 26 euros and Capgemini 1.37% to 118.20 euros.

ArcelorMittal has rebounded significantly (+ 4.28% to 10.32 euros).

On the other hand, aeronautical stocks remained at the back of the pack, still subject to travel restrictions between countries, due to the health situation.

Airbus sold 1.84% to 70.24 euros, Thales 1.22% to 67.96 euros.

© 2020 AFP