The Parisian coast followed the good mood of the Asian places which welcomed the gradual return of the Beijingers to work from this Monday and the reopening of schools in the Chinese capital announced for June 13.

At 10:30 a.m., the featured CAC 40 index rose 1.15% to 6,559.56 points in a session without an indicator on this Pentecost holiday.

On Friday, it ended slightly lower (-0.23%) as Wall Street reacted negatively to strong US jobs data, which should encourage the Federal Reserve to stay the course of monetary tightening. to fight inflation.

In this context, the consumer price figures (CPI) for May in the United States will focus all the attention at the end of the week.

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.

Thursday's meeting of the European Central Bank (ECB) will be the highlight of the week on the Old Continent, which is facing an acceleration in inflation, while in the United States, prices seem to be starting to slow down.

"The biggest challenge for the ECB this week will be to try to justify why it is waiting until July to act, given the urgency of the situation", in the context of a sharp rise in prices aggravated by the war in Ukraine, estimates Michael Hewson, analyst at CMC Markets.

The ECB should decide at its meeting on Thursday to stop its net debt purchases, which have so far helped to support the markets.

Then it should begin a cycle of key rate hikes in July, while taking care not to chill investors by tightening its key rates too quickly and too sharply.

The Frankfurt institution seems for the time being to make “the same error as that of the Federal Reserve earlier this year, to persist in an overly accommodating policy and then to have to raise its rates more aggressively afterwards”, fears Mr. Hewson.

Societe Generale supported by a recommendation

The Societe Generale share rose to the top of the CAC 40 with an increase of 2.84% to 25.69 euros driven, according to Bloomberg, by an increase in the recommendation on the stock to "buy" against "keep" by the bank. Jefferies investment, which believes that the risks associated with the French elections and the bank's exposure to Russia have recently dissipated.

Good performance of aeronautics and automotive

The values ​​of the aeronautical sector were doing well in the image of Safran (+2.20% to 98.31 euros) and Airbus (+2.59% to 111.50 euros).

Same momentum in the automobile with Renault (+2.25% to 26.36 euros) and Stellantis (+1.78% to 14.04 euros).

© 2022 AFP