Cac 40’s volatile session between soaring oil prices and economic concerns, market news

The session hit the Paris Stock Exchange, and soaring commodity prices and western sanctions on Russia fueled concerns about the economic implications of the war in Ukraine. Consumer prices also reached a new record of 5.8% in the euro area in a year at the first estimate in February. TotalEnergies Nonetheless, oil prices can help markets reduce their losses. The group gave up new investment in Russia without considering the withdrawal from the country.

Around 11:00 am Bedroom 40 With a trading volume of € 1.82 billion, it resumed from 0.22% to 6410.60 points. For companies that focus on raw materials, Footsie Londoner will increase by 0.94%.

OPEC + should not change its plan

Brent’s barrel was $ 113.02 due to the intensification of Russian artillery fire on major Ukrainian cities. It hit a new high in seven years, even though IEA members have decided to withdraw 60 million barrels from their strategy. Stocks trying to stop soaring prices. In this context, OPEC +, which counts Russia in its rank, must determine its quota. Experts estimate that the expanded cartel should not deviate from plans to increase production by 400,000 barrels a day next month.

Westerners have spared Gazprom’s banking subsidiary and decided to reduce access to the Swift international payment system by seven Russian banks. Meanwhile, Sberbank has decided to withdraw from the European market due to the significant withdrawal of its subsidiary in the Old World.

In the United States, ExxonMobil has announced that it will end its gas and oil activities in Russia. Bloomberg also reports traders and shipowners’ resistance to Russian oil, which can affect the flow. In addition, the agency said that historically low prices oil offerings from the Urals could not find a buyer.

In the bond market, US Treasury yields stabilized at around 1.72%, while German American Bund yields at the same maturity remained in the negative territory of -0.0370%.

“” The conflict between Russia and Ukraine should continue to dominate the market in the short termRobert Carnell, Head of Asia Pacific Research at ING, said. Yesterday’s announcement that Russia will not pay foreign holders of government bonds should push investors further towards safe investment “, He adds.

Jerome Powell in a delicate position facing Congress

The market will monitor the February ADP survey on job creation in the US private sector in the early afternoon. Then, at 4 pm, Jerome Powell will attend the House of Representatives Financial Services Commission as part of the first part of the biannual hearing in Parliament. 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.

State is putting pressure on companies doing business in Russia

French state pressure on companies in Russia is also weighing heavily Alstom (-1%) and Danone (-3%).in the meantime Renault Recovers 1% after a loss of 18% or more in a week

Easily booked for the downside of the opening, BNP Paribas It increased by 0.4%, Societe Generale When Agricultural credit It oscillates between equilibrium and a gain of 1.7%.

ArcelorMittal 6% increase during contract period future Iron ore exceeded $ 150 per ton, an increase of about 10% over three days.

Schneider electric It will increase by 2.1%. HSBC has raised its stock recommendations from “hold” to “purchase”.

BioMérieux In-vitro diagnostics experts have released an account for 2021 that exceeds its purpose and analysts’ expectations, but expects results to decline this year as demand associated with the coronavirus pandemic is expected to decline. I warned you.

Albioma It will decrease by 8.5%. Energy producers have announced their cautious forecasts for 2022 after recording results at the top of last year’s forecast range, especially thanks to the strong performance of assets in Brazil and Turkey.

Engie Yield of 1.1%. Energy companies that participated in financing the Nord Stream 2 gas pipeline project, which is subject to US sanctions against Russia after the attack in Ukraine, said they are analyzing the consequences of this situation for the group.