The flagship CAC 40 index rose 63.48 points to 6,548.78 points in a quiet session on this Pentecost holiday when trading volumes were moderate.
In China, stock markets welcomed the gradual return of Beijingers to work from Monday and the reopening of schools in the Chinese capital announced for June 13.
For Christopher Lhuillier, head of financial investment experts at Milleis Banque, "the market is picking up ground compared to Friday, when we saw somewhat exaggerated declines in American technology stocks".
He expects “relatively flat momentum this week,” ahead of Thursday’s European Central Bank meeting and Friday’s U.S. inflation numbers.
To curb soaring prices, the US central bank (Fed) has been gradually raising its key rates since March, with the aim of slowing consumer and business demand.
On Friday, strong data from the US job market dashed hopes of a Fed pause in rate hikes after its expected 50 basis point hikes in June and July.
For the markets, it is a question of "knowing whether the Fed will manage to make a soft landing for the American economy, while the level of inflation has not been seen for 40 years", explains Christopher Lhuillier.
In this context, investors are particularly awaiting announcements from the ECB, which should decide to stop its net debt buybacks, which have so far supported the markets.
Then it should begin a cycle of raising its key rates in July.
Mr. Lhuillier does not anticipate that "the markets will be surprised" by such announcements because the ECB is supposed to have prepared them for its change in monetary policy.
Good car handling
Auto stocks were supported by the prospect of a rebound in China's economy, the world's second largest, as anti-Covid restrictions lift.
Renault took 3.34% to 26.63 euros, Stellantis 1.68% to 14.03 euros.
As for equipment manufacturers, Faurecia jumped 9.76% to 26.10 euros, Valeo by 6.99% to 21.28 euros and Plastic Omnium by 3.82% to 17.95 euros.
© 2022 AFP