The flagship CAC 40 index advanced 12.43 points to 6,391.17 points shortly after 10 a.m., recovering after an opening down 0.75%.

On Monday, he had lost 1.80%.

Main publication of the day, the PMI indicators on economic activity were unveiled for France.

The economy "tipped into contraction zone for the first time in almost a year and a half" in August, according to this provisional indicator published by S&P Global.

The index which measures the dynamism of the private sector fell back in August to 49.8, against 51.7 in July, a figure below 50 signifying a contraction.

In the euro zone, the indicators for services and for manufacturing industry came out close to 50.

But even the materializing risk of a recession no longer seems to convince investors that central banks will be more flexible in the coming months, which has strained the market over the past two sessions.

In Europe, "inflation continues to accelerate, forcing the central bank to tighten its monetary policy a little more. The energy market remains under tension, particularly gas with Russian deliveries at their lowest and fears of the 'Germany on winter shortages,'" IG analyst Vincent Boy said.

Little respite on Tuesday: after a sharp rise in the opening, the price of gas on the Dutch market, the TTF, fell by 1.71% to 272 euros per megawatt hour around 9:55 a.m.

Monday he had again broken a record at the end of a session where he had approached 300 euros.

A major gas field discovered by TotalEnergies

TotalEnergies and Eni announced on Monday that they had made a new "significant discovery" of gas off the coast of Cyprus.

Studies are already “in progress to assess options for rapid development,” Eni said.

The action of the French energy and hydrocarbons giant rose 1.49% to 53.84 euros, also boosted by the rise in rising oil prices.

© 2022 AFP