The flagship CAC 40 index advanced 98.65 points to finish at 7,186.99 points, its highest level since March 10. In session, it even briefly reached 7,200 points. The day before, it had gained 0.14%.

"The market has reassured itself about the situation of the banks", even if we should not shout too early at the end of the crisis, says Nicolas Budin, manager for Myria AM.

After the bankruptcies of SVB and Signature Bank in the United States, then the catastrophic takeover of Credit Suisse, European indices had a new heat stroke on Friday because of the situation of Deutsche Bank, but quickly regained their cool.

The searches of French banks on Tuesday "could have led to a reaction on the entire sector in a situation of stress" but stock prices have finally moved little, he notes.

Investors are also reassured by the authorities' reactions. "Different institutions in the United States have decided to do a major regulatory review of the banking system to take stock of the risks. But as long as central banks are behind, there is no need to panic," Budin said.

On the bond market, the yield on the French 10-year bond rose slightly to 2.82%.

Airbus drags Atos into turbulence

The European aerospace group Airbus said Wednesday to give up acquiring nearly 30% of Evidian, the company that Atos must create to house its cybersecurity activities, a little more than a month after the opening of discussions in this direction.

Atos shares fell 16.75% to 10.71 euros, the worst performance in the broader SBF 120 index. That of Airbus gained on the other hand 1.84% to 120.90 euros.

SES in discussions with Intelsat

European satellite telecommunications operator SES is in "discussions" with its US rival Intelsat about "a possible rapprochement", which would result in a new major merger in the race for internet from space, according to a statement released Wednesday.

"At this stage, there can be no certainty that the operation will materialize," warns SES in its document, released in response to "market rumors". The share rose 3.71% to 5.76 euros after peaking at more than six euros in midday.

The European operator Eutelsat, in discussion with the British Oneweb ended down 1.00% to 5.93 euros.

Trigano restarts

The specialist in vehicles and motorhomes Trigano posted Tuesday a growth of 13.2% of its turnover in the second quarter of its staggered financial year, driven mainly by the increase in the motorhome activity. The share took 5.18% to 117.70 euros, although it remains down 7.76% since the beginning of the year.

© 2023 AFP