FALL IN EUROPEAN SHARES, THE CAC 40 IN “BEAR MARKET”
PARIS (Archyde.com) – The main European stock markets fell sharply at the start of the session on Monday, while the price of oil soared in the prospect of a possible Western ban on Russian supplies.
In Paris, the CAC 40 lost 4.4% to 5,795.14 points around 08:55 GMT, the lowest for a year.
The flagship index of the Paris marketplace has lost 21% since its last high, which brings it into a bear market phase.
In London, the FTSE 100 is down 2.05%, down from a rise in British mining and oil stocks, and in Frankfurt, the Dax, also in the bear market, is down 4.61%.
The EuroStoxx 50 index is down 4.23%, the FTSEurofirst 300 is down 3.14% and the Stoxx 600, at its lowest since February 2021, gives up 3.69%.
European stocks are falling once more, as are Asian markets this morning and futures on major Wall Street indices, as a result of the war in Ukraine.
Oil prices have reached new highs since July 2008 following the United States, the European Union and then the United Kingdom raised the threat of an embargo on oil imports from Russia.
In addition, new demands from Moscow risk delaying a possible Iranian nuclear deal that would increase oil supply.
The European oil and gas sector gained 2% and that of mining stocks gained 1.46% while metal prices also soared.
The Stoxx banking index shows the heaviest drop: -7.85%.
At individual values, Stellantis (-8.19%), Societe Generale (-11.15%) and Alstom (-13.53%) are last in the CAC 40, the only increase of which is for Thales (+4.74%). ).
Up at the opening, TotalEnergies now yields 1.36% and competitors Shell and BP advance 5.45% from 1.29% respectively.
Airlines are falling as the rise in oil prices should mechanically translate into higher kerosene prices. Air France-KLM sells 10.8% and IAG 7%.
(Laetitia Volga, edited by Blandine Hénault)
