The flagship CAC 40 index gained 89.91 points to 7,319.18 points, the best performance since May 5. It breaks a series of four declines, which brought the Parisian rating to its lowest level since the end of March.
But in total the CAC 40 is experiencing its worst week since mid-March (-2.31%).
The Parisian rating hovered around balance during the first part of the session, before accelerating from midday, then with the opening of the US markets.
It is "a technical rebound," said Lionel Melka, partner at Swann Capital. "We breathe, saying that on the history of the debt ceiling, we will find a solution," he said.
Discussions on the US debt ceiling seem to be moving in the right direction between the White House and congressional leaders, although a subsequent approval vote will be difficult to obtain from Republican elected officials.
Discussions between the White House and the Republican opposition are "productive", assured Thursday the spokeswoman of the executive, Karine Jean-Pierre, removing the prospect of a default of payment of the United States.
In addition, the inflation report in the United States "shows that inflation persists," says Mr. Melka.
The PCE index rose 4.4 percent year on year in April, down from 4.2 percent the previous month. More worryingly, the underlying index, which excludes sectors with volatile prices such as food and energy, accelerated to 4.7%.
US household spending rose sharply (+0.8% in April).
But this resilience of the economy also gives the Fed more room to raise its key rates.
As a result, interest rates on the France rose again: the rate for the 10-year bond reached 3.11%.
Casino's debt on the table
At the resumption of its listing after three days of suspension, the share of the distributor Casino fell by 6.43% to 6.33 euros, consequence of the announcement of the opening of a conciliation procedure to renegotiate its large debt.
The share of its parent company Rallye fell again by 10.00% to 0.90 euros. Since the beginning of the year, Casino stock has lost more than a third of its value and Rallye about 66%.
Electrical GA at TotalEnergies
The shareholders of TotalEnergies (+1.38% to 55.76 euros) largely validated Friday the group's climate strategy, during a general meeting held under pressure from demonstrators, massed outside, but also the government, who call on it to turn away more quickly from fossil fuels.
Luxury rebound
Battered in the middle of the week, luxury stocks rose sharply on Friday: LVMH took 2.44% to 843.50 euros, second rise in the CAC 40. Hermès took 2.32% to 1,959.20 euros, Kering 1.43% to 517.70 euros.
© 2023 AFP