Paris: Decline has been curbed, but oil and gas are on fire again-March 23, 2022 20:10

( stock market fell 1.17% to 6,581 points, like Frankfurt (-1.4%) and E-Stoxx50 (-1.5%), with London playing a role in limiting damage. It plays (-0.2%).

Across the Atlantic, Red also dominated in the middle of the session, with the Dow Jones and S & P 500 down about -1% and the Nasdaq down -0.7%.

The CAC started the session slightly (+ 16% recovery from March 7) before being surprised by the announcement of Vladimir Putin, which bans payments of gas imported from Russia in dollars or euros. Russian authorities plan to implement a new ruble payment system within a week.

Not only do Western buyers not have rubles, but as long as the assets of the Central Bank of Russia are frozen, they will have a hard time getting rubles …

Immediate result? Gas prices soared (+ 15% to 115E worth of megawatts / hour), oil price “Brent” rose + 5.5% to $ 121, WTI (+ 5%) shattered to $ 115, We are approaching the peak of March. .. 2012.

The President of Russia has presented this initiative in response to the freeze on Russian assets in the West. As part of that, the EU plans to announce a section of additional sanctions against Moscow tomorrow …

In this context, the bond market remains close to the worst levels of the year. Our OAT was 0.9450% compared to 0.965% the day before, well above the “peak” of 0.8% before February (compared to -0.05)% (December 20, 2021). ). T-Bonds in the US posted 2.375% compared to 2.38% the day before, but “30 years” was still flirting at 2.500%.

“Although Jerome Powell warned of a 50 basis point hike, the two-day wave of fixed income assets accelerated, the stock market remained confident in economic growth,” Liberum said.

“Despite rising yield curves and further flattening of the yield curve in Germany and the UK, technology and finance have outperformed in Europe, while energy and materials have been delayed,” he continued. ..

In daily statistics, the Commerce Department announced a 2% decline in US new home sales in February. This represents 772,000 annual CVS volumes, compared to 788,000 in January (corrected from the original estimate of 801,000).

Median new home sales in the United States were $ 400,600 last month. With 407,000 units at the end of February, the inventory of new homes ready for sale is equivalent to 6.3 months at current flow rates.

This morning, operators learned of record inflation in February in the UK. According to the National Bureau of Statistics, consumer prices in the UK rose at an annual rate of 6.2% in February, a sharp rise of 0.7 points compared to that. Last month, it reached the highest price in 30 years.

In Parisian values, Worldline, Kering and Publicis are -3.5% red lanterns.

TotalEnergies announced on Tuesday evening that it would end its purchases of petroleum and petroleum products from Russia as soon as possible, at the latest by the end of 2022, and phased out its activities in Russia.

L’Oréal has announced that it has successfully launched its first bond issuance with a nominal total of € 3 billion. This issue received a total demand of 10.7 billion, more than 3.5 times the total amount of offers.

Stellantis has announced support for the Development Plan of the Automotive Cells Company (ACC), which will transform its Stellantis plant in Termoli, Italy, into a new battery production base. In this way, the Group signs an agreement to integrate Mercedes-Benz as a new equal partner with TotalEnergies / Saft and Stellantis.

Virbac increased its current net income in 2021 by 53.3% to € 117.8 million and its current operating income by 42.4% to € 168.9 million. A net dividend of € 1.25 per share has been proposed over the past year.

Seb, a small consumer electronics group, has announced its entry into capital for the Lac1 fund managed by Bpifrance on behalf of French and foreign investors. This is the fifth investment since its establishment in 2020.