Around 11:30 a.m., the CAC 40 index rose 1.15% to 6,609.86 points the day after a loss of 0.83% after the International Monetary Fund (IMF) revised its scenario for global growth by anticipating a sharp slowdown in 2022 and more intense inflation.

In the absence of major macroeconomic data, investors leaned on a stream of corporate results before following the evening publication of the Beige Book of the US central bank (Fed).

This economic report on the American economy should give an indication of the resilience of the recovery and could help to anticipate the next movements of monetary policy a little more when the Fed meets at the beginning of May.

"Bond yields and monetary policies remain the main drivers of the market at present," said Pierre Veyret, analyst at ActivTrades.

A member of the monetary committee of the American central bank (Fed), James Bullard, had estimated Monday that an increase of 75 basis points (0.75%) of the rates of the Fed was not out of the question.

The market level already reflects the pricing of a half-percentage-point rate hike on May 4.

The yield on the 30-year U.S. Treasury bond rose above 3% for the first time on Wednesday since April 2019.

Danone leads the CAC 40

Danone shares rose 8.65% to 57.18 euros around 11:20 a.m. after better-than-expected sales in the first quarter and annual targets maintained by the agrifood giant.

Danone is also the subject of market rumors, the Letter A having reported Wednesday morning that the food group Lactalis would consider a partial or total takeover of its competitor.

Banks in support

Banking stocks Societe Generale (+3.41%), BNP Paribas (+3.65%) and Crédit Agricole (+3.52%) contributed to the rise in the Paris market.

Teleperformance performs

The outsourced customer service specialist, whose share also gained 3.54% to 336.80 euros, saw its turnover for the first quarter jump 6.5% like-for-like, to 1.962 billion euros , driven in particular by the growing digitization of the economy and confirmed its annual objectives.

L'Oréal exceeds expectations

The cosmetics giant announced on Tuesday a turnover for the first quarter of 2022 of 9.06 billion euros, up 19% compared to the same period of the previous financial year, exceeding expectations.

The title evolved close to balance at 350.85 euros.

© 2022 AFP