The flagship CAC 40 index gained 43.43 points to 6,342.07 points, in low trading volumes due to the absence of certain investors for the Ascension Bridge.

The Parisian rating is struggling to hang on a trend since the beginning of the week: Wednesday it gained 0.73%, after a session of decline and another of increase.

The minutes of the Fed's last monetary meeting, on May 4, during which the Federal Reserve raised its key rates by half a percentage point, were published on Wednesday evening.

In these minutes, the members of the Monetary Committee ensured that they were determined to bring inflation down sharply, and most of them felt that several further rate hikes of half a point would be “probably necessary”.

A signal appreciated by the market, none of the Fed officials, on the other hand, mentioned the need for a stronger monetary tightening of 75 basis points.

Michael Hewson, analyst at CMC Markets, also notes "discussions on the possibility of raising rates beyond the neutral point in order to limit above-target inflation".

But, even on this point, the report was not “particularly instructive given that all the members of the monetary committee do not have the same idea of ​​what the neutral rate is”.

In addition, the latest statements by the Chinese Prime Minister on Thursday tempered the momentum initiated by the closing up on Wall Street.

Li Keqiang drew a gloomy assessment of the economy in China, undermined by anti-Covid restrictions, believing that it was at a “critical moment” facing difficulties “even greater than in 2020”.

The zero Covid strategy strongly championed by President Xi Jinping is taking a heavy toll on the economy and sending shockwaves globally as supply chains are disrupted.

In May, China unveiled its worst economic performance for two years, with consumption at its lowest and unemployment close to an all-time high.

Vallourec loses nearly 10%

The action of the French manufacturer of seamless tubes Vallourec fell 9.90% to 12.57 euros.

The Bloomberg agency reported that investment funds sold a large amount of the stock at 12.20 euros, 12.5% ​​below Wednesday's closing price.

Vivendi majority stake in Lagardère

The French media giant Vivendi, parent company of Canal+, Havas and Editis, holds the majority of the capital (55.4%) of Lagardère (+0.16% to 24.98 euros) at the end of the first phase of its takeover of the group that owns the publisher Hachette and influential media.

The Vivendi title yielded 0.68% to 10.96 euros.

© 2022 AFP