The Paris Stock Exchange closed sharply down 1.84% on Thursday, hit by disappointing economic data in the US, with market nervousness exacerbated by the conflict between Ukraine and Russia. The CAC 40 stellar index lost 119.65 points to 6378.37 points, its lowest level since July 20, 2021. It rebounded 1.59% the day before after falling nearly 4% on Tuesday.
The Paris rating remained close to its level the day before until the middle of the day, taking a breather after the very high volatility sessions of the past few days.day of consolidationsays Rafael Tuin, head of capital market strategy at Tikehau Capital. The lull was made possible, in part, by “stabilization of banking shares, the market begins to better understand the Russian risk on European banks“, adds the analyst.
However, for himthe atmosphere remains extremely hectic and uncertain, we feel that the market can go one way or another at any moment with the slightest news from Ukraine“. In the end, it was the publication of disappointing economic statistics in the US that made stock markets go negative. Growth in activity in the service sector really slowed down in February, while analysts, on the contrary, expected acceleration.
For Raphael Tuen it is “maybe the market is looking a little outside of Russia, and is starting to think about the post-crisis“. On the eighth day of the invasion of Ukraine, Russian troops, after taking the first major city, intensify their shelling of other cities, including the strategic port of Mariupol, as new negotiations began shortly before 16:00.
The conflict sparked a commodity boom. On Thursday morning, a barrel of US WTI topped $115, which has not been seen since 2008, while a barrel of Brent oil was close to $120. But by the end of the day, oil and gas prices finally calmed down.
Reassuring Energy Technip
Shares of Technip Energies jumped 13.64% to 10 euros after the French engineering and energy services group announced the financial implications.contentcrisis associated with the Russian invasion of Ukraine. The company has morestopped working on any new business opportunities in Russia“.
Thales solid thanks to protection
In 2021, the production of defense equipment once again stimulated the activity of the French group Thales, whose net profit more than doubled in a year. His share, which has already moved strongly since the start of the war in Ukraine, is down 3.79% to 106.80 euros.
Societe Generale wants to calm its presence in Russia
The Societe Generale bank assured that it could “absorb the consequences» the scenario of loss of control over a subsidiary in Russia, Rosbank, whose activities accounted for 2.8% of its total net banking income (equivalent to its turnover) in 2021. €50.76 and Crédit Agricole 0.22% up to €10.76.
Engie and Publicis at the bottom of the CAC 40 rankings
Energy group Engie, which co-financed the construction of the Nord Stream 2 gas pipeline, said it was at riskcredit risk» a maximum of 987 million euros for this controversial project, affected by sanctions after the Russian invasion of Ukraine. Its shares lost 6.26% to 11.32 euros.
Shares of Publicis lost 6.70% to 52.68 euros. However, the French communications giant has recorded record results in 2021.