Paris (AFP)

The Paris Bourse rose on Monday at midday (+ 1.34%), wiping out its losses on Friday in favor of a decline in bond yields and the adoption by US deputies of a vast stimulus plan of 1.900 billion dollars.

After having rebounded significantly at the opening, the flagship CAC 40 index gained 76.70 points to 5,779.92 points around 12:18 p.m. (11:18 a.m. GMT).

Friday, it had fallen by 1.39%, and on the whole of the week lost 1.20%.

"Equity markets are posting strong gains as bond yields come down," said David Madden, an analyst at CMC Markets UK.

At the origin of major repositioning on the equity markets last week, the sharp rise in borrowing rates on the bond market, a reflection of rising inflation expectations, indeed seemed to be calming on Monday.

Thus the ten-year American borrowing rate, after rising to more than 1.50% on Thursday, was moving around 1.43%.

The French rate of the same maturity, after having passed above the 0% mark on Thursday for the first time in nine months, fell to -0.06%.

"In addition, investors are reassured by the adoption by the House of Representatives of the recovery plan of Joe Biden", advance Franklin Pichard, the managing director of Kiplink Finance.

"The expected power of budget support over the next few quarters is still present in the minds of investors (...), which inevitably arouses a renewed appetite for risk" even if this support plan has yet to "obtain the vote of the US Senate.

Another supporting factor: the acceleration of vaccination campaigns.

The United States in particular authorized Saturday in urgency a new single-dose vaccine, that of Johnson & Johnson.

In terms of indicators, growth in manufacturing activity in France reached its highest level since January 2018 in February, the IHS Markit firm reported on Monday.

In China, on the other hand, manufacturing activity experienced its slowest growth rate in nine months in February.

This same indicator is also expected in the United States (ISM index) in the afternoon.

Danone CEO in the hot seat

The agri-food group (+ 1.91% to 57.54 euros) holds a board of directors on Monday, urged to look into its governance by some of its shareholders who criticize the action of CEO Emmanuel Faber.

The group also announced on Sunday that it wanted to sell its stake of nearly 10% in the Chinese dairy giant Mengniu by the end of the year.

Kering benefits from a positive recommendation

The luxury group was pulled (+ 2.88% to 540.00 euros) by an increase in its recommendation to "buy" against "keep" previously by Jefferies.

GL Events resists

The event specialist took 4.46% to 11.24 euros despite a net loss of 75 million euros in 2020, announced by its president Olivier Ginon in an interview with the daily Le Progrès, anticipating the publication of the results of the group scheduled for Thursday.

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