Cac 40 tries to jump, but rising petroleum fuels fear the economy, market news

The Paris Stock Exchange is trying to rebound and Wall Street will open slightly higher. Meanwhile, Ukraine says it is ready to resume negotiations with Russia, which the defense minister has announced has occupied the port city of Kherson. Soaring oil prices by about 7% support the European heavyweight division, especially in the following sectors: TotalEnergies (+ 6%), shell (+ 5.1%) or BP (+ 4.9%).Steelworks ArcelorMittal That part advanced 3.9% during the contract period future Iron ore exceeded $ 150 per ton, an increase of about 10% over three days.

OPEC + has agreed to increase production by 400,000 barrels per day from April, according to a representative of the extended cartel quoted by Bloomberg. Brent’s barrel reached $ 113.02 this morning, hitting a seven-year high. This is despite the IEA’s (International Energy Agency) member countries deciding to withdraw 60 million barrels of strategic stocks to stop the surge. At the price.

Around 2:30 pm Bedroom 40 With a trading volume of € 3.2 billion, it resumed from 0.26% to 6,413.24 points. In frankfurt Daks Yield of 0.26%. For companies that focus on raw materials, Footsie London rose 0.70%.Agreement future The US index has risen by about 0.5%. The day before the S & P 500 entered the correction zone, it fell 10.6% compared to the record in early January.

Nevertheless, the market continues to question the economic implications of the war in Ukraine and Western sanctions on Russia. In particular, the price of natural gas in Amsterdam reached a record high of 194.71 euros per megawatt hour. A record 5.8% rise in consumer prices over the February year in the euro area confirms these concerns.

In the United States, a survey conducted by ADP found that in February the private sector created 475,000 jobs in the non-farm sector. This is 100,000 more than the market expects.

Yields on U.S. 10-year bonds, a fragile sign of the beginning of interest in risky assets, rose 5 basis points to 1.7718%, while German American Bund yields with the same maturity last night. It fluctuated around 0% compared to -0.06%. ..

Vilmorin plunges as fresh air blows into banks

Jerome Powell will speak in front of the House Financial Services Commission from 4 pm as part of the first part of the biannual hearing before Congress. He needs to signal that the Federal Reserve intends to initiate the process of normalizing its monetary policy, but it also needs to pay attention to the geopolitical environment. Western investors believe that central banks should work realistically and patiently to normalize monetary policy.

A slight rise in interest rates gives banks some leeway. BNP Paribas Therefore, after being booked for a drop at the opening, it recovered 1.7%, Societe GeneraleMost exposed to Russia and highly rated 2.3%.

On the other hand, the pressure of the French state on the companies existing in Russia is heavy. Danone (-3.5%). Renault It fell another 0.5%, down more than 18% in a week.

Schneider electric It will increase by 3%. HSBC has raised its stock recommendations from “hold” to “purchase”.

BioMérieux 10% reduction. The invitro diagnostics specialist has released an account for 2021 that exceeded the goals and analysts’ expectations, but warned that results will decline this year as demand associated with the coronavirus pandemic coronavirus is expected to decline. did.

Finally, seed Vilmorin The day after sales were announced at the end of December, it plummeted 12% and had the opportunity to issue a “profit warning” about profits from 2021 to 2022.