The star CAC 40 index gained 108.28 points to 7,295.55 points.

On Friday, the Parisian rating had ended the week on a decline of 2.18% over five days, its worst weekly performance since mid-December.

“We had a complicated weekend and today we have a catch-up taking place after inflation in the United States, macroeconomic news which has put the emphasis on the monetary policy of the Fed”, observes Andrea Tueni, an analyst at Saxo Bank.

PCE inflation is the indicator favored by the American central bank to move its interest rates, currently on the rise in order to slow down the economy and thus lower inflation.

Since the first rate hike in March 2022, the Fed had opted for jumps of 0.5 percentage points.

It had halved the pace in February, and market participants thought it would stay that way in future meetings, but now fear bigger increases.

"Small flat on the CAC 40, this rebound is interesting but it occurs in relatively low trading volumes," however notes the analyst, the rest of the week being rich in indicators.

In addition, the market "is still awaiting several indicators this week", continues Andrea Tueni.

On Tuesday, inflation in France in February is on the agenda, before that of Germany on Wednesday and that of the euro zone on Thursday.

Household consumption and detailed fourth quarter GDP results will also be awaited by investors.

Axa at its highest since 2007

The French insurer Axa topped the CAC 40, ending up 3.40% at 29.38 euros per share, a level it had not known since November 2007.

On the occasion of the publication of its annual results on Thursday, Axa announced the launch of a share buyback program for a maximum amount of 1.1 billion euros.

Banks listed on the CAC 40 benefited from the rise of Axa: BNP Paribas ended up 2.46% at 65.46 euros, Société Générale by 1.50% at 26.79 euros and Crédit Agricole by 1, 04% to 11.47 euros.

Good publicity for Michelin

Michelin ended up 2.74% at 30.21 euros on the Paris Bourse "after a positive note from Goldman Sachs" which raised its advice from "neutral" to "buy", explains Andréa Tueni.

In its wake, the Renault group overtook Michelin by a head to settle in second place in the CAC 40, finishing up 2.80% to 41.71 euros.

© 2023 AFP