(News Bulletin 247) – The Paris Stock Exchange continues a third rising session, still driven by the banking and technology compartment. The CAC 40 rebounded 1.4% to close at the gates of 7,200 points.

Thanks to the rebound of STMicroelectronics and the easing of fears surrounding the banking sector, the Paris Stock Exchange achieved the pass of three, with a gain of 1.39% to 7,186.99 points on Wednesday evening.

The Paris market has benefited from valuable support to return to levels more observed for two weeks, and has even had the luxury of exceeding 7,200 points by a short head in session.

The solidity of the banking system is the focus of all attention, even if the climate seems calmer than at the end of last week with the takeover of Credit Suisse by UBS. Moreover, UBS has just announced the return at its head of Sergio Ermotti who will be in charge of steering the merger of the two Swiss banks.

An appointment that is viewed favorably by the markets. Quoted by Reuters, Vontobel bank welcomes the return of Sergio Ermotti as head of UBS, saying he is “the right person for this difficult task, given his experience in the successful transformation of UBS after the financial crisis. world”.

Commenting on the recent turmoil affecting the banking sector, Philip Lane recalls in an interview with the daily Die Zeitthe solidity of the financial establishments of the 20 countries of the zone, thereby ruling out the slightest direct repercussion of the banking tensions in the United States and Switzerland on the monetary bloc.

However, the chief economist of the European Central Bank reiterates the commitment of the European monetary institution to fight against inflationary pressures. On this subject, he recalled the need to proceed with further interest rate hikes “to ensure that inflation falls back to the target level of 2%”.

In this context, the market will closely scrutinize on Friday the evolution of consumer prices in the euro zone for the month of March as well as the PCE index in the United States which is one of the measures of inflation. favored by the US Federal Reserve. Ahead of the release of this price data, traders will take notice of fourth quarter US GDP data (3rd estimate) on Thursday.

STMicroelectronics, support from the East

At the head of the CAC 40, STMicroelectronics closes up sharply by 6.4% supported by the excellent prospects posted by its German competitor Infineon, which soared by 6.9% in Frankfurt. The semiconductor manufacturer also benefits from the strong publication of the American Micron Technology.

French banks end in the green in the absence of new turbulence in the sector, BNP Paribas gained 2.7%, Axa rose by 2.65%, Société Générale by 2% when Crédit Agricole appreciated by 1 .8%.

Excluding the star index, Trigano recovered 5.2% after recording a rebound in its turnover in the second quarter. The motorhome specialist also forecasts an increase in sales in the second half of the year with the improvement in its production.

SES closed up 3.7% as the satellite operator confirmed the existence of discussions with its American competitor Intelsat with a view to a possible merger between the two groups.

Atos, on the other hand, lost 16.8% while Airbus finally gave up taking a stake in the future “cyber” branch of the digital services company.

Orpea gives another 7.1% the day after a decline of 7.4%.

On the side of the foreign exchange market, the euro concedes a few fractions (-0.10%) to 1.0845 dollar. Oil saw its gains erode despite a sharp fall in commercial reserves last week in the United States. The barrel of Brent from the North Sea for delivery in May is moving almost to equilibrium at 78.19 dollars, while the barrel of American WTI at the same maturity appreciates by 0.6% to 73.60 dollars.