(News Bulletin 247) – The CAC 40 rose sharply at mid-session on Monday, after having fallen by more than 2% last week.

Overdue for several sessions, the Paris Stock Exchange begins a rebound on Monday. The CAC 40 thus won 1.25% at mid-session at 7253.38 points, thus healing its wounds from last week, during which it lost 2.4%.

The People’s Bank of China, the central bank of China, lowered a key key rate on Monday, reducing its 1-year lending rate by 10 basis points (0.10%) to 3.45%. But while leaving its five-year rate unchanged at 4.2%.

“Unsurprisingly, the markets were unimpressed by this decision, expecting the authorities to be much tougher,” judge Michael Hewson of CMC Markets.

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Jackson Hole on the horizon

This therefore does not prevent the market from recovering, after having been battered for several sessions by fears about the Chinese economy as well as by the rise in bond rates.

A context that reinforces the attention that the market will pay to the Jackson Hole symposium, a sort of major conference of central bankers organized by the Federal Reserve (Fed), at the weekend in Wyoming. The speech of its president, Jerome Powell, will be harshly scrutinized.

In terms of values, almost all of the CAC 40 is in the green, with Engie, EssilorLuxottica and TotalEnergies leading the dance, each taking nearly more than 2%.

On the other hand, among small stocks, Virbac fell 3.7%, suffering from a deterioration of Stifel which went from “buying” to “holding” on the stock.

On other markets, the euro gained 0.2% against the dollar at 1.0896 dollars. Oil prices are rising. The October North Sea Brent contract rose 0.5% to 85.19 dollars a barrel, while the September WTI contract, listed in New York, also took 0.5% to 81, $68 a barrel.