The Paris Bourse accelerated at mid-session Monday, increasing by 2.42% after the announcement of the Moderna laboratory that its vaccine against Covid-19 has an effectiveness of 94.5%.
At 1:25 p.m., the CAC 40 index rose by 129.94 points to 5,510.10 points.
Last Monday, a similar announcement from Pfizer and BioNTech sent the Paris index soaring by more than 7.50%.
Global markets are still very receptive to news about a Covid-19 vaccine.
Their large-scale deployment would help relieve economic pressure on businesses as well as travel constraints.
The pressure is still strong as European countries are reconfigured and the spread of the virus accelerates in the United States.
"In Europe, the inversion of the contaminations curve is confirmed, but it is still too early to talk about a relaxation of health rules", estimates Franklin Pichard, director of Kipling Finance.
However, "while waiting for the eradication of the Covid, investors know that central banks will continue to relentlessly support the economy," he said.
Vaccine announcements therefore arouse "investors' growing appetite for risk," said Pierre Veyret, technical analyst at Activ'Trades.
European markets benefited from the same trend: London gained 1.65% and Frankfurt 1.33%, Milan 2.51%.
The start of the week was also looking good in the US markets: the S & P500 futures contract rose 1.18% and that of the Dow Jones by 1.74%.
The Paris Bourse also had a solid opening thanks to "the signing of the Asian trade agreement on Sunday," said Mr. Veyret.
This Regional Comprehensive Economic Partnership (RCEP) is becoming the most important trade agreement in the world in terms of Gross Domestic Product (30% of world GDP), according to analysts, and will concern more than 2 billion inhabitants in 15 countries of Asia and the Pacific including China, Japan and South Korea, but not India.
Asia offered other good surprises when European investors woke up, with a more vigorous-than-expected rebound in Japanese growth, and a further acceleration in Chinese consumption in October.
Cyclical stocks benefit
Moderna's communication on its vaccine primarily benefited cyclical stocks, which were dependent on economic activity.
Safran gained 6.48% to 120.59 euros and Thales 5.72% to 79.44 euros.
Renault climbed 7.98% to 31.30 euros.
His partner Nissan had to deny on Monday information from the Bloomberg agency according to which he would consider reducing his stake in the capital of his compatriot Mitsubishi Motors, of which he has held 34% since 2016.
Banks still at the party
The sector was progressing clearly throughout Europe, driven by the hopes of recovery and by the session of the subsidiary of the second Spanish bank BBVA to the American group PNC Financial Services for nearly ten billion euros.
BBVA gained 15.78% to 3.67 euros.
In France, Societe Generale took 5.69% to 16.51 euros.
Unibail leaps again
Unibail-Rodamco-Westfield jumped 14.87% to 57.28 euros, after the new victory of opponents to the management, who take the head of the supervisory board of the giant shopping centers.
© 2020 AFP