Paris (AFP)

The soaring LVMH title still carried the Paris Bourse at mid-session (+ 1.47%) Friday, allowing it to forget a global context still gloomy.

The CAC 40 index rose 70.93 points to 4,908.35 points at 12.55 p.m. (10.55 a.m. GMT).

The day before, it had unscrewed by 2.11%.

Value whose weighting is the strongest in the main index of the Parisian quotation, LVMH climbed 6.28% to 428.15 euros, the day after the publication after the market of better than expected sales in the 3rd quarter.

The world number one in luxury garnered 11.955 billion euros in turnover (down 7% in organic terms) thanks to the dynamism of its Fashion and Leather Goods division as well as the recovery of the Asian market.

This weaker than expected decline reassured investors.

The Parisian place achieved a better performance than its European neighbors, whose rebounds after Thursday's slide are less strong.

Frankfurt gained 1.08%, while London gained 1.29%.

US futures contracts, for their part, were up slightly.

Corporate results shielded indices from an ever-uncertain environment.

Thus, French and especially German debts, perceived as safe havens in the event of a crisis, continued to decline on Friday, the yield on the 10-year Bund coming in at -0.63% and that of the OAT at -0, 35% for the same duration.

"Investors have adjusted to the announcements of the new restrictions and there is little hope that American politicians will agree on a plan to revive the economy by the presidential election on November 3," summarizes David Madden, analyst at CMC Markets.

The lack of substantial aid since the end of July, however, weighs on the US economy and could affect consumer confidence, on which an indicator must be unveiled in the afternoon.

The other expected market announcement concerns Brexit.

The United Kingdom "must prepare" for a failure of post-Brexit trade negotiations with the European Union unless there is a "fundamental change" in the approach of the 27, British Prime Minister Boris Johnson warned on Friday.

LUXURY COMES TO PARIS

In the wake of LVMH, other luxury stocks soared like Kering which took 3.88% to 588.70 euros or Hermès with an increase of 2.95% to 794.60 euros.

THE AUTOMOBILE IN DAIMLER'S ASPIRATION

The automobile group Daimler created the surprise by reporting Thursday of a better than expected operating profit thanks to a "faster recovery than expected" of its activity.

The title gained 3.68% to 48.57 euros.

BMW benefited (+ 1.16% to 62.89 euros) just like Volkswagen (+ 1.73% to 137.24 euros) in Germany.

Car manufacturers also benefited from registrations in Europe, which started to rise again in September.

In France, Renault rose 5.31% to 23.90 euros and Peugeot 4.14% to 15.84 euros.

WETHERSPOON FALLS AFTER ITS RESULTS

The London-listed group of pubs tumbled 11.72% to 848 pence after unveiling an exercise in the red amid restrictions on the UK restaurant and bar sector, one of the most affected by the impact of the pandemic.

© 2020 AFP