The Paris Stock Exchange rose 1.30% on Thursday during a heavy session in corporate earnings that took note of the contraction in US GDP in the second quarter, leaving investors hope for an easing of monetary policy in the fed.

The CAC 40 index gained 81.27 points to 6,339.21 points, up for the second consecutive session amid a burst of corporate results.

After the announcement of the Fed’s key interest rate hike of 75 basis points the day before, the US GDP contraction challenged the markets to interpret this information.

“The markets seem reassured by the words of the Fed boss and the results of companies generally less bad than what was feared”, observes Vincent Manuel, director of investments at Indosuez Wealth Management.

„The Fed is able, in the eyes of the markets, to decide to suspend the increase in its key rate” if the indicators on the health of the economy deteriorate, he adds.

Fed Director Jerome Powell assured Wednesday that the US economy was not in recession and that he wanted to avoid it, while acknowledging a slowdown.

Accor promises an „incredible summer”, the markets sanction