The Paris Bourse rose 0.36% Thursday morning, galvanized by the prospects of recovery in the United States after the announcement of a new recovery plan in infrastructure, and despite new restrictions announced in France in the face of the third wave of Covid-19.
At 10 a.m., the flagship CAC 40 index gained 21.77 points to 6,089.00 points, the day after a decline of 0.34%.
“Faced with a new outbreak of confirmed Covid-19 infections, French President Emmanuel Macron addressed the nation last night to announce a third national confinement from this weekend”, notes Christopher Dembik, associate director at Berenberg.
“Much of continental Europe is in the throes of another wave due to the rapid spread of more contagious variants. But the situation in France is now worse than in almost all other countries in the euro area”, adds- he does.
Closure of schools for three to four weeks, extension of restrictions to the entire metropolis, limited travel: Emmanuel Macron announced on Wednesday a new turn of the screw, calling on the French to “provide an additional effort” but without strict confinement.
“Even with a strong rebound in activity from early May, the tighter restrictions in April will weigh heavily on second quarter GDP,” Dembik notes.
In the United States, US President Joe Biden on Wednesday proposed from Pittsburgh to invest some $ 2,000 billion in infrastructure, with the stated objective of creating “millions of jobs”, standing up to China and fighting against climate change.
In China, manufacturing activity fell to its lowest level in 11 months in March, according to an independent index released on Thursday.
Atos in delicacy
The French IT giant plunged 13.92% to 57.26 euros after announcing in a press release that following an audit of its 2020 accounts, a “qualified opinion” was issued concerning two American entities of the group.
Solutions 30 leaps
Conversely, Solutions 30 jumped 23.71% to 13.41 euros after an independent audit concluded “to the unfounded and erroneous nature of the accusations against the company”, according to a statement from the group, while the American activist fund Muddy Waters accused him in particular of “money laundering”.
Vinci in shape
Vinci rose 2.82% to 89.82 euros. The French construction giant announced on Thursday an agreement with the Spanish construction group ACS to acquire the latter’s energy activities, and thus strengthen itself in renewables, for an amount of around 4.9 billion euros.
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