(News Bulletin 247) – The Paris Stock Exchange rose slightly at mid-session. The CAC 40 hopes to achieve the pass of two with the easing of fears about the banking sector.

The Paris Stock Exchange continues its rise initiated on Monday, still led by appeasement on the banking compartment after the announcement of the plan to buy back the assets of Silicon Valley Bank by First Citizens.

The CAC 40 appreciated by 0.17% to 7,090.13 points after having evolved on 7,100 points in the first part of the session. On Monday, the Paris star index rose 0.9% to close at 7,100 points. It still has some work to do to make up for Friday’s drop (-1.74%) after the blow to the banking sector linked to fears around the financial health of Deutsche Bank.

“This does not mean that the storm has passed, only that the panic of the last few weeks is likely to subside and allow the re-emergence of a more rational market”, is keen to temper Craig Erlam, analyst at Oanda.

Investors are not losing sight of the evolution of monetary policies as several major statistics are on the agenda, including crucial data on inflation at the end of the week. In this context, the interventions of the President of the European Central Bank (ECB) Christine Lagarde, as well as an official of the American Federal Reserve will therefore be closely watched on Tuesday.

To note in France, a continuation of the growth made it possible to reduce the public debt while the public deficit fell more than the objective of the government, indicated Tuesday the INSEE.

Valeo king of patents

Oil stocks are benefiting from the rise in black gold, supported by Turkey’s halt to oil imports from Iraqi Kurdistan. CGG gained 3.2%, Totalenergies +2.2% and Technip Energies won 0.7%.

The shares of the banking compartment evolve in dispersed order: Axa progresses by 1.3%, BNP Paribas appreciates by 0.8% while Crédit Agricole remains stable at 10.032 euros and Société Générale is down by 0.4%.

Valeo is up 1.4% as the automotive supplier says it is the French industrial group that filed the most patent applications in 2022 with the European Patent Office (EPO).

Lepermislibre regains 11% while a bill is being examined to facilitate access to driving licenses.

On the other hand, Orpea continues its slide (-6.2%) while the operator of retirement homes announced on Friday that it was the subject of an “accelerated safeguard” procedure before the commercial justice.

On the currency side, the euro sheds some color to progress by 0.2% to 1.0823 dollars.