AFP, published on Tuesday, March 01, 2022 at 10:02 am
The Paris Bourse dropped 0.88% on Tuesday, still worried regarding the conflict in Ukraine and the economic sanctions imposed on Russia in retaliation.
At 9:25 a.m., the featured CAC 40 index fell 58.31 points to 6,600.52 points. Over the whole of February, the Parisian rating lost 4.86%, its worst month since March 2020 and the implementation of containments in the face of the Covid-19 epidemic.
The Parisian rating has experienced three particularly volatile sessions since the invasion of Ukraine by Russia on Thursday, falling by almost 4%, before recovering 3.5% on Friday. On Monday, it limited its losses from the start of the session to end down 1.39%.
“The market configuration is still too uncertain and investors are alert to the various news that may fall as the sessions progress,” said Saxo Bank analysts.
International retaliatory measures once morest Russia continue to pile up Tuesday morning, as Moscow regroups its forces in preparation for an assault on Kiev and other major cities, according to the Ukrainian general staff.
After Western sanctions aimed at the financial system and the Russian central bank, Canada announced that it would ban “all imports of Russian crude oil”, while many companies indicated that they were disengaging from Russian companies or projects.
The Europeans and their allies are ready to take additional sanctions, including targeting new banks, other oligarchs or even the Russian sovereign wealth fund, according to the Élysée.
“We are going to cause the collapse of the Russian economy” through Western economic sanctions imposed in response to the Russian invasion of Ukraine, Economy Minister Bruno Le Maire said on Tuesday.
For his part, Vladimir Putin demanded the recognition of Crimea as Russian territory and the demilitarization of Ukraine to put an end to this war. A second round of talks between Russia and Ukraine is scheduled.
The conflict is reflected in particular on the raw materials market: oil prices have jumped, causing in France an increase of more than 3 cents per liter of diesel in just one week. Road fuel prices have thus reached new records.
On the European market, the prices of maize and milling wheat are soaring and reaching record highs, due to the closure of Ukrainian ports.
Engie and TotalEnergies in the sights
There is now a “problem of principle to work on” with any personality close to Russian power, said the Minister of the Economy Bruno Le Maire, when asked regarding the activities of the French giants TotalEnergies and Engie in Russia.
Engie (-3.15% to 13.82 euros) is a stakeholder in the Nord Stream 2 gas pipeline program, suspended by Germany, and TotalEnergies (+0.50% to 45.83 euros) is participating in particular in two projects aimed at to produce liquefied natural gas (LNG).
