Paris (AFP)
The Paris Bourse was up 1.25% at mid-session Monday, wiping out its losses from the end of last week and going back above 5,000 points while Wall Street closed Monday.
At 1:15 p.m. (11:15 a.m. GMT), the CAC 40 index gained 62.06 points to 5,027.13 points.
Over the last week as a whole, it had lost 0.76% due to the heavy fall in the US markets from Thursday.
From the start of the session on Monday, the Parisian market "wiped out Friday's losses," notes David Madden, CMC Markets analyst.
For Pierre Veyret, technical analyst at ActivTrades, "many investors seem to be speculating that the European economy could be more resilient than other economic zones. These hopes are mainly driven by the expectation of a positive meeting of the European Central Bank later in the week ".
The institution could adopt an even more accommodating tone in reaction to inflation which is still low, and even deflation in August in the euro zone, as well as the rise of the single currency against the dollar.
The closure of Wall Street on Monday due to a public holiday in the United States also limited trading on the Parisian coast.
But despite this closure, the US markets still remain the center of attention after their fall at the end of last week.
Press reports have reported the purchase by the Japanese group Softbank of very large quantities of options on the financial markets, having generated a wind of concern in the American markets.
The Japanese juggernaut of investments in new technologies SoftBank Group would have bought four billion dollars of these derivatives according to the Financial Times, which raises doubts on the sustainability of the recovery of the American indices.
The European and French markets, which have not kept pace with the rise in US technology stocks, have however held up well to the fall in the United States, even though they all ended up in the red at the end of last week.
"It is not impossible that significant differences will be recorded in the coming days, in particular if the derivatives market needs to be cleaned up", points out Tangi le Liboux, analyst for the broker Aurel BGC.
- Rebound in technology stocks -
In terms of values, industrial companies were well placed.
Airbus rose 3.65% to 72.33 euros, and Renault 2.86% to 25.15 euros.
Tech stocks also rebounded after the sharp declines over the weekend.
Worldline, which had lost more than 10% between the close of Wednesday and that of Friday, regained 3.55% to 76.42 euros.
For its part, Teleperformance gained 2.56% to 256.20 euros.
Saint-Gobain advanced 2.31% to 35.03 euros thanks to the raising of its recommendation to "buy" by Société Générale.
Sanofi rose 1.30% to 84.66 euros.
GSK and the French laboratory have assured that their vaccine against Covid-19 would cost "less than ten euros" per dose.
© 2020 AFP