CAC40: folds, risk of Russian default averted


(CercleFinance.com) – The Paris stock market lost nearly 0.8% this morning, around 6,560 points, the day after a day marked by significant gains on the other side of the Atlantic (+1.2 % for S&P500 and Dow Jones, +1.3% for Nasdaq).

In Ukraine, Russian troops continue their offensive, day after day, especially in Lviv, Mukolaiv and Mariupol. In this context, the European Commission has announced that its ‘freeze and seize’ task force will intensify its international action to ensure the implementation of sanctions against the Russian and Belarusian oligarchs.

While yesterday the markets were talking about a possible Russian default, it seems that Moscow was able to honor its debts by making its bond payments denominated in dollars. Several media are indeed reporting that JP Morgan Chase was able to receive the expected payments from the Russian Central Bank, thus removing the risk of default in the very short term.

“Nevertheless, investors remained cautious after the Kremlin refuted claims that major progress had been made in peace talks in Ukraine,” a Wells Fargo analyst said Thursday.

On the macroeconomic data front, the trade balance of the euro zone should appear in the morning, then the composite index of leading indicators from the Conference Board and sales of existing homes in the United States in the middle of the afternoon.

In the securities news in Paris, Wendel publishes an NAV per share at the end of 2021 very close to its historical high, at 188.1 euros, up 20.1% over one year, and announces an annual ordinary dividend of three euros per share, up 3.4%.

EDF announces the launch and the terms of a capital increase for an amount of more than 3.1 billion euros with maintenance of the PSR, an operation in which the French State will take part in the amount of its participation of 83.88 % in the capital.

EssilorLuxottica announces the finalization of its agreement with CooperCompanies for SightGlass Vision, a joint venture aimed at accelerating the commercialization of innovative ophthalmic lens technologies and myopia control solutions.

Finally, Air Liquide announces that it has launched a staggered investment of more than 300 million euros in four state-of-the-art production units in Japan, to produce more than 1.5 million Nm3 per year of nitrogen and other very high purity.

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