(News Bulletin 247) – The Paris Stock Exchange regains some color at mid-session, after the breathtaking results from Nvidia but sees its progress slowed down by minutes from the Fed. The CAC 40 is therefore having difficulty making its return to 8,100 points.

The Paris Stock Exchange is timidly moving forward after having lost more than 1% over the last two sessions. The CAC 40 increased by 0.24% back on 8,100 points to 8,111.92 points this Thursday at mid-session.

The direction is not really asserted as the Parisian market is torn between two opposing forces. Investors are welcoming with some relief Nvidia’s stunning results, which once again shattered expectations in the first quarter. The prospects delivered by the graphics processor giant are also welcomed.

But the relief caused by Nvidia’s copy gives way to doubts about monetary policies. The minutes of the American Federal Reserve are tinged with caution, since certain members of the institution even mentioned the possibility of further tightening monetary policy in the event that inflation remained stubborn.

This restrictive tone has also fueled tensions on the bond market. The yield on 10-year American debt has returned to 4.42%, while the yield on French debt of the same maturity is at 3.02% after a peak at 3.058% this Thursday morning.

In Europe, the latest activity figures also show divergent dynamics within the countries of the monetary union. If in Germany, private sector activity grew more briskly than expected, in France, on the other hand, it contracted slightly to 49.1 in May, after 50.5 in April. The threshold of 50 distinguishes a contraction from an expansion of activity.

STMicroelectronics in good shape after Nvidia

On the business side, news remains sparse. STMicroelectronics takes advantage of Nvidia’s excellent publication to gain 1% at midday.

Excluding the flagship index, Euroapi jumped 4.4% and posted the largest increase in the SBF 120 after announcing an agreement to produce active ingredients for a global animal health company. The expected total value of the contract is of the order of 130 to 150 million euros, over the period 2025-2029.

On other markets, the euro increased by 0.2% to 1.0846 dollars after the latest statistics in Europe. Oil prices are rebounding after their recent consolidation. The July North Sea Brent contract gained 0.8% to $82.56 per barrel, while the July WTI contract also gained 0.8% to $78.19 per barrel.