(AOF) – European equity markets have extended their rebound in the wake of Wall Street. The CAC 40 gained 0.75% to 5,964.66 points. The Euro Stoxx 50 rose 0.58% to 3,490.02 points. This renewed appetite for risk is shared on Wall Street. Around 5:30 p.m., the Dow Jones jumped 1.8% and the Nasdaq, 3.17%.
No news or statistics explain this general rebound. Overnight, China’s central bank left rates unchanged, but economists expected Beijing not to follow the monetary tightening path of other major central banks. China needs stimuli to support demand weakened in recent weeks by health restrictions linked to the resurgence of the pandemic.
In reality, this improvement can be explained by cheap takeovers. Investors saw a good entry point in markets that have just gone through their worst week in more than two years.
Investors remain attentive to any signal from the Fed and the ECB. Tomorrow, moreover, the hearing in Congress of the Chairman of the Fed, Jerome Powell, will be followed with the greatest attention.
On the Paris Stock Exchange, Saint-Gobain rebounded more than 2.5% after falling 4% yesterday. Conversely, Sanofi lost 1.2%, penalized by its status as a defensive value.