(News Bulletin 247) – The accommodating remarks of a member of the Fed, the publication of a solid Chinese indicator and in the euro zone are fueling the rebound of the Paris market. The CAC 40 rose 0.7% at midday.

The Paris Stock Exchange is keeping its bullish course before the weekend, driven by several solid statistics in China and the euro zone as well as by the rather accommodating statements from a member of the Fed.

The CAC 40 progressed at mid-session by 0.7% to return to the threshold of 7,300 points, at 7,335.70 points. Thursday, the Parisian index had increased by 0.69% and for the time being, the results are more than positive for the week (+2.06%).

In the morning, operators took note of an acceleration in the growth of activity in the euro zone, last month. The PMI index published by S&P Global, reached an eight-month high of 52 last month after 50.3 in January. For services, the index stood at 52.7, its highest since June after 50.8 in January.

On Wall Street, the indices all closed in positive territory after a rather lackluster start to the session. The rebound in the American market was fueled by accommodating remarks from Raphael Bostic. The Atlanta Fed chairman on Thursday said he favored a 25 basis point (0.25 percentage point) hike in rates at the next March meeting as well as a pause in rate hikes. rate in the summer.

A statement that warmed the hearts of investors. The higher inflation figures in Europe or the United States published this week are indeed putting pressure on the European Central Bank and the Fed to continue their rate hikes for the coming months.

The governor of the American central bank Christopher Waller is also going in this direction. After the close of the US markets, he indicated that he supported a rate hike to contain inflation that was still stubborn, while economic indicators remained as solid as ever.

The prospect of a recovery in the Chinese economy also supports the trend. Services activity in China rose strongly in February. The PMI index published by Caixin rose to 55 points last month after 52.9 in January. The more followed American ISM Services will be published at 4:00 p.m.

Bonduelle up sharply

On the securities front, corporate publications continue to feed the news of the Parisian marketplace. Bonduelle’s half-year results are welcomed by the markets (+7.2%), while its profitability has clearly appreciated over the period covering July to December.

Vallourec increased by 5.5%, the day after an attractive publication. The seamless tube maker said on Thursday it posted positive cash flow in the fourth quarter and more than three times better than expected.

Arkema gained 3.7%, supported by Goldman Sachs which raised its recommendation to buy against neutral previously. Stellantis rose for its part by 1.8%, carried by Royal Bank of Canada, which rose to “outperformance” against “sector performance” on the action of the car manufacturer.

On other markets, the euro gleans 0.16% to 1.0616 dollars. Oil prices are giving up some ground. The North Sea Brent contract for May delivery fell 0.3% to $84.54 a barrel while New York-listed WTI for April delivery fell 0.2% to $78.03 a barrel. barrel.