Paris (AFP)

The Paris Bourse managed to break even on Thursday at mid-session after a gloomy start to the session, against the backdrop of a clear tightening of the measures imposed by the public authorities in France and around the world to deal with the pandemic .

Around 1:10 p.m., the CAC 40 index rose to 4,802.23 points, a level almost identical to the close of the day before.

A slight improvement was also observed in Frankfurt, which rose 0.26%, and in London, which fell only 0.30% while futures contracts on Wall Street suggested an opening in scattered order.

European indices were particularly weighted at the opening by the new fall of Wall Street the day before, led by the plunge in technology stocks, as well as by new restrictive measures in Europe to fight against the spread of Covid-19.

Caught in the uproar, Asian stock markets suffered heavy declines at the close on Thursday, losing between 1.08% and 2.46% between Japan, China and Hong Kong.

"European governments are trying to impose a + soft + containment", analyzes Milan Cutkovic, market analyst for AxiCorp.

While France has imposed the closure of bars and restaurants in Marseille and banned gatherings of more than 10 people in other major cities including Paris, Munich has seen restrictions imposed in Madrid's wake.

"If the number of positive cases continues to rise, which could occur during the autumn-winter seasons, more drastic measures will be necessary", anticipates Mr. Cutkovic.

It is the direct consequences for businesses that raise the greatest concerns for investors.

After the announcement of historic losses in the second quarter, they could experience a nightmarish end of the year if reconfigurations were announced.

For the time being, the situation still seems to be under control, with certain indicators showing positive results.

Thursday, the IFO barometer on the morale of German entrepreneurs improved in September for the fifth consecutive month but at a slower pace.

"The economy of the euro area has recovered faster than expected from the first wave of Covid-19," said the rating agency S&P Global Ratings in a study released on Thursday.

Adding however: "but the second phase could be more difficult."

On the American side, a new budget support plan is still trapped in political quarrels between Democrats and Republicans a few weeks before the presidential election.

CYCLIC VALUES IN THE FOG

The tourism sector continued to suffer from mountains of uncertainties about the global economy.

Air France-KLM lost 5.47% to 3.06 euros, Airbus 1.84% to 60.65 euros and IAG (British Airways) 3.86% to 76.72 pence.

Very badly off at the start of the session, the car manufacturers however resisted the depression a little: + 0.43% to 61.22 euros for BMW, + 1.02% to 136.86 euros for Volkswagen + 0.81% at 22.34 euros for Renault.

ANGEL FILM FOR CINEWORLD

The chain of theaters collapsed 11.75% to 42.82 pence after revealing an after-tax loss of $ 1.6 billion in the first half due to closures caused by the pandemic.

THE TONE RISE BETWEEN VEOLIA AND SUEZ

The CEO of Veolia, who seeks to get his hands on Suez, described Thursday as "pitiful" the decision of his rival to create a legal device greatly complicating any cession of the French Water branch.

Veolia lost 0.71% to 18.25 euros, Suez 4.09% to 14.29 euros, and Engie 0.75% to 11.27 euros.

© 2020 AFP