The CAC 40 index advanced 19.30 points to 6,230.75 points around 10:40 a.m.

The day before, it had fallen by 0.42%.

Numerous results publications took place before the session, resulting in strong upward and downward variations in securities for Worldline, Eurofins, Michelin on the CAC 40, Elior, Atos for the broader SBF 120 index.

In the United States, the results of the behemoths Alphabet (parent company of Google) or Microsoft after the close of markets on Tuesday supported the trend in futures contracts.

Moreover, investors are awaiting the conclusions of the US Federal Reserve meeting after the European close.

"The challenge is to know when the Fed will end its monetary policy tightening cycle", even if now it is "unlikely that the Fed will give precise indications", according to Christopher Dembik, director of the macroeconomics research at Saxo Bank.

With the acceleration of inflation which continues to thwart the expectations of central banks, they have abandoned their "forward guidance" policy, which consisted in announcing well in advance their decisions on key rates and their interventions on markets.

The gas market also remained very tight, with a further 11% increase in the price of European natural gas on the Dutch market, to 222 euros per megawatt hour.

In three days, the price of the TTF took almost 40%.

LVMH mixed

LVMH oscillated around equilibrium (+0.16% to 626.20 euros), after an opening down following its results, which again exceeded those of last year and analysts' expectations.

The number one luxury has accumulated a net profit of 6.5 billion euros in the first six months of the year.

In the sector, Kering lost 0.70% to 521.20 euros, and Hermès took 0.34% to 1,196 euros.

Eurofins and Michelin disappoint

Eurofins Scientific (-5.11% to 77.22 euros) and Michelin (-4.94% to 26.57 euros) unscrewed after their results, analysts pointing for one to a drop in momentum in non-Covid activities -19 and for the other results lower than the consensus.

Upset engagement for TF1 and M6

The television groups TF1 and M6 fell after a body of the Competition Authority said it was unfavorable to the merger between the two companies.

The report points to "significant competition problems", particularly in television advertising, according to the chairman of the management board of the M6 ​​group, Nicolas de Tavernost.

TF1 fell by 4.26% to 6.29 euros and M6 by 6.79% to 13.05 euros.

© 2022 AFP