The flagship CAC 40 index advanced 19.36 points to finish at 7,222.15 points. Over the first four days of the week, however, it dropped by 0.67%.

After opening lower, the Parisian rating has resumed the path of increase, accelerating after the publication of the jump in weekly applications for unemployment benefits in the United States, to their highest level since October 2021.

A less dynamic labor market is welcomed by the US central bank in its fight against inflation.

At the beginning of the session, investors learned that the euro zone had entered recession this winter, penalized by the decline in consumption under the effect of price increases and by the difficulties of German industry, according to Eurostat data. In the last two quarters, gross domestic product has shrunk by 0.1%, with data revised downwards.

"We are more in a cycle of stagnation, which is anticipated by the market," said Charlotte de Montpellier, economist at ING.

More importantly, according to her, "all economic indicators since then are bad", which presages that the trend will continue.

The data on growth will be taken into account by the European Central Bank, which meets like the US Federal Reserve next week, but "the indicators of prospective activity are more important", and the passage into recession "does not mean that the institution has completed its cycle of rate hikes," warns Ms. de Montpellier.

Societe Generale (+1.17% to 22.88 euros) announced Thursday the conclusion of agreements with two African banking groups to sell four of its subsidiaries, in Congo and Equatorial Guinea to the Vista group and in Mauritania and Chad to the Coris group.

It rose more than the other banking groups of the CAC 40, Credit Agricole (+0.76% to 10.93 euros), and BNP Paribas (+0.44% to 57.01 euros).

Automotive stocks drove at the top of the indices: on the CAC 40, Stellantis gained 1.51% to 15.18 euros, Renault 1.09% to 32.87 euros, Michelin 1.51% to 27.59 euros. On the broader index, Valeo took 4.79% to 20.77 euros, and signs the best progression of the week so far, Forvia 3.67% to 22.04 euros, Plastic Omnium 2.27% to 15.79 euros.

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© 2023 AFP