Paris (AFP)
The Paris Bourse rose sharply at mid-session Wednesday (+ 1.88%), but the Parisian quotation still has a lot to catch up after its fall at the start of the week.
The CAC 40 index rose 89.58 points to reach 4,862.42 points at 1:00 p.m. (11:00 GMT).
The day before, it had fallen by 0.40%.
"European equities have followed the United States' lead a lot lately," said David Madden, analyst at CMC Markets.
Thus, "the strong increases in the American technology sector" Tuesday had repercussions this morning in Europe, he explains.
Frankfurt, London and other European places posted similar progress to the Parisian price.
US markets were still in the green in futures before the session opened.
"There is no panic yet," notes Milan Cutkovic, AxiCorp analyst despite the tumble in the markets on Monday, the CAC having lost 3.74%.
However, concerns persist.
Over the week, the main Parisian index was still down 2.32%.
"Market players fear a new economic blockage, which could seriously damage the confidence of consumers and businesses," continues Cutkovic.
The strong spread of Covid-19 in Europe is weakening the recovery of activity.
In September, private sector activity stagnated in the euro area due to the faster circulation of the virus, according to the first estimate of the composite PMI index by the firm Markit.
The index fell to 50.1 points in September, after 51.9 in August.
When it is above 50 points, it means that the activity is progressing, while it falls back if it is below this threshold.
Activity in France has even contracted, in particular because of services, which suffer the most from social distancing and restriction measures.
"The alarm bells should be sounded as to the pace of the recovery," said Bert Colijn, economist at ING.
In the United States, Federal Reserve Chairman Jerome Powell is speaking again in Congress and will also be heard by market operators.
Technology still driving lessons
The engineering and technology group Alten was praised on the stock market (+ 7.99% to 75 euros) after the publication of its results.
STMicroelectronics took its side 2.69% to 25.97 euros, in the wake of the performance of the US technology index Nasdaq Tuesday.
Siemens and Atos extend their partnership
Siemens rose 1.13% to 114.30 euros on the day of the announcement of the five-year extension of its partnership with Atos (+ 2.82% to 70.08 euros) as part of a contract at 5 billion euros in cybersecurity and the cloud.
The aerial bounces
Without a rebound on Tuesday after their fall at the start of the week, aeronautical stocks moved forward: Airbus rose 2.82% to 64.30 euros, Air France-KLM 3.22% to 3.34 euros and Lufthansa from 4.22% to 4.76 euros in Germany.
© 2020 AFP