(News Bulletin 247) – The CAC 40 rose sharply in mid-session on Thursday, while market operators were optimistic about the conclusion of an agreement between Republicans and Democrats to raise the American debt ceiling.

After several very gloomy sessions, the Paris Stock Exchange took off a little this Thursday. At mid-session, the CAC 40 advanced by 0.9% to 7462.22 points. The Parisian index follows suit on Wall Street, which ended up sharply on Wednesday evening, the S&P 500 having risen by 1.2%.

“Risk appetite has returned to markets over the past 24 hours as investors grow more optimistic that a solution to the US debt ceiling problem can be found,” Deutsche strategists said. Bank.

“We haven’t had a lot of concrete elements, but the negotiations are continuing and the fact that all the main players have reaffirmed their desire to avoid a payment default has helped to reassure market participants”, they continue. .

US President Joe Biden held a press conference during which he said he was “confident” about the resolution of this file. The leader of the Republicans in the House of Representatives, Kevin McCarthy also declared himself “optimistic about the ability to work together”.

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Stephen Innes of SPI Asset Management also noted that US housing starts, released on Wednesday, provided further evidence that the US economy “is doing, to some degree, better than many initially thought. “.

In terms of values, Trigano took the lead in the SBF 120, rising 10.6% on the back of better-than-expected half-year results.

Cyclical stocks are well oriented with Société Générale and BNP Paribas each gaining 1.7% while STMicroelectronics gains 2%.

Note that in London, the luxury group Burberry fell 6.2% after publishing its results for its entire 2022-2023 financial year, marked by a 7% drop in sales in North America in the fourth quarter. quarter.

On the other markets, the euro lost 0.2% against the dollar at 1.0816 dollars. Oil contracts are losing some ground. The North Sea Brent contract for July delivery fell 0.6% to $76.53 a barrel while the June contract on New York-listed WTI also fell 0.6% to $72.45 a barrel. barrel.