The Paris Stock Exchange up for the third day in a row

The Paris Stock Exchange moved up Wednesday morning, as since the beginning of the week, fears about the global banking system continuing to ebb in the eyes of investors.

The star CAC 40 index rose 0.84% ​​to 7,149.06 points around 10:20 a.m. A movement a little more assertive than the day before, where it had ended on a gain of 0.14%.

Investors’ anxiety about banks has generally subsided with the arrival of a buyer for the American bank Silicon Valley Bank (SVB), which went bankrupt in early March, and the takeover of the Swiss bank Credit Suisse by its compatriot UBS.

The first Swiss bank UBS also announced Wednesday morning to call back its former managing director, Sergio Ermotti, to steer the merger.

“The markets are trying to stabilize but remain very volatile, a sign that the return of confidence will take time,” said Xavier Chapard, a member of the research team at La Banque Postale Asset Management. He also notes that “equities have risen slightly since the start of the week, driven by reassuring economic data and the rebound in Chinese Tech”.

On the macroeconomic side, investors will rely on data published Wednesday morning on the morale of French households, which again deteriorated slightly in March, the French being particularly worried about the evolution of their standard of living.

The indicator that reflects household confidence lost one point to 81 points, after having already lost one point in February, INSEE reported on Wednesday.

This level is close to the indicator’s all-time low, but less dramatic than had been anticipated by some analysts, such as Michael Hewson of CMC Markets, who feared that the “recent social unrest” linked to the pension reform could serves as a “catalyst” to shake these figures.

Same observation on the side of the business climate, published on Tuesday, and which simply deteriorated slightly in March. “If the strikes seem to weigh a little on the current activity of companies, this impact is very limited”, estimates Mr. Chapard, they “do not prevent (do) French companies from anticipating an increase in activity and employment in the coming months.

STMicroelectronics bounces back

The Franco-Italian semiconductor manufacturer signs the biggest increase in the CAC 40 on Wednesday, its action jumping 4.76% around 10:10 a.m., to 46.62 euros, driven by its German competitor Infineon (+ 6.11%), which expects an excellent second quarter of its staggered fiscal year.

Since January 1, STMicroelectronics’ stock has soared nearly 40%.


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