The flagship CAC 40 index rose 52 points to 7,065.46 points around 10:15. On Friday, the main index of the Parisian market had fallen by 1.74% after having fallen back in session below the 7,000 point mark.

The CAC 40, however, ended the week up 1.30% and still gains more than 8% since the beginning of the year.

After the bankruptcy of US regional banks, the takeover of Credit Suisse by UBS to restore confidence in the Swiss bank, it is on Deutsche Bank that a wind of panic blew Friday, after a sharp increase in the cost of insurance against the risk of default (CDS) of the first German bank.

But for Andreas Lipkow, an independent analyst, "the so-called banking crisis has so far turned out to be nothing more than a storm in a financial teacup".

On Monday at the open, European bank shares rebounded sharply before calming their momentum.

Around 10:10, the banking sector of the broader Stoxx Europe 600 index took 0.93%. The shares of BNP Paribas (+0.91% to 50.97 euros), Société Générale (+0.43% to 19.99 euros) and Crédit Agricole (+0.53% to 9.99 euros) were mixed.

"It is difficult to see how in the very short term, the current fears will dissipate, even if, objectively, it is difficult to see a trivial link between the failures of the few banks in the United States and Credit Suisse in Europe and the extent of anxiety that has manifested itself in the market," said Sebastian Paris Horvitz, head of research at Banque Postale AM.

The purchase of "all deposits and loans" of Silicon Valley Bank (SVB), which went bankrupt in early March, by the US bank First Citizens, seemed to be welcomed by investors.

"The resolution operation seems to have been conducted quickly and suggests that the banking system is more resilient than current fears," adds Sebastian Paris Horvitz.

Orpea is looking for a buoy

The private group of retirement homes and clinics Orpea announced Friday that it is the subject of an "accelerated safeguard" procedure before the commercial justice. This is an expected step in the implementation of its restructuring plan that should lead to a change of shareholder and the cancellation of part of its heavy debt, the company said in a statement.

Its share nevertheless fell by 11.23% to 2.05 euros.

Latécoère struggles to take off

The French aerospace equipment manufacturer Latécoère (-0.83% to 0.36 euros) announced that it had widened its net loss in 2022 due to a charge related to a sale of activity, and despite the good performance of its turnover.

© 2023 AFP