The star CAC 40 index rose by 119.18 points to 5,914.14 points, around 9:50 a.m.

On Tuesday, the Parisian rating fell to its lowest closing level since the beginning of March 2021.

The Nasdaq in New York closed sharply up 1.75% on Tuesday, "cheap buybacks and a hunt for bargains" fueled the rebound at the start of the session, according to John Plassard, investment specialist at Mirabaud.

Today's rebound is therefore mostly technical after yesterday's sharp drop, and the overall picture remains quite bleak.

"European businesses have to deal with the war in Ukraine, the worsening energy crisis, rising inflation and a central bank unable to give the right treatment to member states, because it is stuck between a rising inflation and the risk of triggering a new debt crisis in the eurozone,” said Ipek Ozkardeskaya, analyst at Swissquote.

All this has fueled fears for several months that the European economy is entering recession and weighing down the markets.

These concerns intensified on Tuesday with the risk of a gas supply disruption in Europe, which would hurt many parts of the economy, starting with German industry.

The Russian giant Gazprom has already drastically reduced its gas deliveries to European countries and the announcement on Tuesday of a strike in the oil and gas sector in Norway, threatening the country's exports, has weighed down spirits.

The Norwegian government decided to interfere in the case and referred the conflict between the striking employees and their employers to an independent body, effectively imposing, according to Norwegian law, the cessation of social mobilization.

The single European currency nevertheless remained at a low for almost 20 years, swept away on Tuesday by the lack of investor confidence in the European economy, while it had already been weakened for several months by the more accommodating tone of the Central Bank. European Union, compared to that of the Federal Reserve in the United States.

Alstom chosen...

The railway manufacturer Alstom has announced that it has won a contract worth 387 million euros to supply metro trains and a signaling system for the Indian cities of Bhopal and Indore.

Its action was at the top of the CAC 40 with an increase of 3.91% to 22.33 euros.

... Safran and Airbus too

Air France-KLM (+3.40% to 1.13 euros) has chosen engines from CFM International, a joint venture between Safran and General Electric, to equip the 100 A320neo family aircraft ordered last December from Airbus.

Safran (+3.49% to 95 euros) and Airbus (3.60% to 92.62 euros) were just behind Alstom, at the top of the CAC 40.

© 2022 AFP