The flagship CAC 40 index gained 35.45 points, ending at 7,533.63 points, its highest closing level. In session, it even reached a peak at 7,559.35 points.

The Paris rating opened higher and stayed the same course throughout the session, with new economic data from China.

The gross domestic product (GDP) of the world's second-largest economy grew more than expected in the first quarter, by 4.5% year-on-year, and retail sales confirmed their recovery in March, advancing 10.6% year-on-year, their fastest pace since June 2021.

Enough to give a little momentum to the luxury sector, which had fallen sharply on Monday following a good week. LVMH took 0.45% to 877.50 euros, Kering 0.67% to 571.70 euros, and Hermès 1.76% to 1,972.00 euros.

Corporate earnings season continues to drive the market in the U.S. and Europe and is generally well received by investors.

"The tension between the good health of the private sector and higher and persistent core inflation makes it more difficult" for central banks to do so, warns Paola Monperrus-Veroni, economist at Crédit Agricole.

In a sign of tensions in the debt market, the cost of French borrowing remained above 3% on Tuesday, a threshold it had exceeded on Friday for the first time since the first days of the March banking crisis.

Jackpot for Bolloré

One wants to further strengthen its logistics division, the other to refocus on the media: CMA CGM and Bolloré announced on Tuesday that they were negotiating the acquisition of Bolloré Logistics by the Marseille shipowner, for an enterprise value of 5 billion euros.

The Bolloré group jumped 5.27% to 6.09 euros and Vivendi, controlled by Bolloré, soared 6.32% to 10.08 euros.

Lagardère benefits from the rebound in air traffic

The Lagardère group posted first-quarter revenue of €1.7 billion, up 28% thanks to the continued rebound in air traffic, particularly in China. The share took 1.49% to 23.85 euros.

Aéroports de Paris grabbed 0.15% to 134 euros, while major airports serving Paris suffered from strikes by air traffic controllers against the pension reform, which caused them to lose about 470,000 passengers in the first quarter.

© 2023 AFP