Paris (AFP)

The Paris Bourse took off 1.82% in mid-session on Monday, starting off on the right foot a busy week on the eve of the US presidential election and as Europe gradually reconfigured itself.

The flagship CAC 40 index gained 83.63 points to 4,677.87 points around 1:00 p.m. (12:00 p.m. GMT), after a sluggish start.

Elsewhere in Europe, Frankfurt grew by 1.86% and London by 1.08%, again after not very encouraging openings.

On the macroeconomic front, in China, manufacturing activity reached its highest level in nearly 10 years in October, according to an independent benchmark index, which on Monday confirmed the recovery of the world's second-largest economy.

The purchasing managers index (PMI) of the manufacturing sector, calculated by the firm IHS Markit for the media group Caixin, stood at 53.6 points last month against 53 in September, its highest level high since January 2011.

This indicator contradicts the official purchasing managers index, which on Saturday showed a slight dip to 51.4 in October from 51.5 in September.

"The second largest economy in the world is still gaining traction and is slowly but surely returning to normalcy after its containment in February," said Michael Hewson, chief analyst for CMC Markets UK.

What to envy other parts of the world whose economic indicators evolve in a sawtooth, like the United States where is held in this fragile context a presidential election of all dangers.

"These elections should leave the markets under pressure, because of the many possible scenarios at the end of the count and the risks of a questioning of the results", underlines Vincent Boy, analyst for IG France.

Investors will be all the more attentive to the situation as the European and American markets are on edge, having posted their worst performances since March last week when Europe is re-fining.

For Europe, "a return to recession seems inevitable and the ravages of the crisis on consumer and investor confidence will have long-term effects," said Milan Cutkovic, analyst for Axi.

Day after day, the outlook grows darker: the Italian government could announce reconfinements in several major cities of the country according to the press, in addition to severe restrictions already decided in Germany, to a reconfinement in France, Belgium and soon in Austria and the UK.

The meeting of the US Central Bank would seem almost anecdotal in this context.

Fed leaders will meet a few hours after election night, and may not announce any measures.

+ 80% for DBV Technologies

The French biotech announced Monday the validation of the filing of an authorization request in Europe for its flagship product against peanut allergy Viaskin Peanut.

Its title was listed at 4.40 euros, up 80%.

DELIVERY BENEFITS FROM CONTAINMENT

British grocery delivery group OCADO (+ 10.02% to 2.504.00 pence) confirms its status as the winner of the pandemic: its stock has jumped 89% since the start of the year.

It said Monday "strong demand as consumers continue to migrate to online shopping" and raised its operating income forecast for the year.

RETURN IN SALES FOR RENAULT AND PSA

Renault (+ 0.54% to 21.37 euros) shows a drop in sales of 9.69% in 2020 compared to its very good October in 2019, with 42,634 vehicles, according to figures published by the Committee of French Automobile Manufacturers (CCFA).

The PSA group (+ 2.66% to 15.84 euros) held up better, with -2.78% and 60,430 vehicles sold.

© 2020 AFP