Paris (AFP)

The Paris Bourse started to rise again (+ 0.95%) Wednesday morning, carried some good results and erasing its losses of the day before caused by fears of inflation and a decline in technology stocks.

At 9:40 am, the CAC 40 index took 59.11 points, to 6,310.10 points.

On Tuesday, it had finished down 0.89%.

Wall Street also closed lower on Tuesday, weighed down by the decline in technology stocks, sensitive to fears of overheating in the economy.

The caution seen in the markets on Tuesday seems to be eclipsed Wednesday by some good corporate results in France and bank stocks were pulling the Paris Stock Exchange.

But for two weeks, "a form of bullish exhaustion is at work, with markets looking for excuses to fall at the beginning of May," notes Tangi Le Liboux, a strategist for broker Aurel BGC.

However, do not worry and "as long as US rates remain stable, a somewhat steep drop seems unlikely on the indices," he continues.

The American central bank, the Fed, insists that it is still too early to think about raising rates.

However, the former boss of the Fed and now Secretary of the Treasury, Janet Yellen, ruled Tuesday that it may be necessary "to raise interest rates a little so that the economy does not overheat."

The economy which is recovering, with proof of a multitude of indicators published recently, raises fears of a resumption of inflation, which could lead to a rise in interest rates.

On today's agenda, the PMI indicator on service and private sector activity will be published for the United States, the euro zone and France.

Investors will also take note of figures on job creation in the private sector in April in the United States.

At European level, the European Commission will present its industrial strategy for Europe in the middle of the day and the chief economist of the European Central Bank will deliver a speech in the afternoon.

© 2021 AFP

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