The Paris Stock Exchange should pause under the weight of rising oil prices in anticipation of new Western sanctions against Russia.
The Cac 40 exposed to the rise in oil amid tensions with Russia
After a gain of 0.7% on Monday, the Paris Stock Exchange is on the way to stabilizing at the opening. Wall Street certainly rose last night, driven in particular by technology stocks, but oil prices continue to rise amid fears of shortages in anticipation of new Western sanctions against Russia. The barrel of Brent from the North Sea rose 1.5% to 108.98 dollars.
The United States and the European Union are preparing to adopt a new package of measures against Moscow in response to accusations of massacres in the town of Boutcha, northwest of kyiv. The U.S. Treasury blocked dollar payments from the Russian government as part of its bond repayments with U.S. banks. A decision intended in particular to force Moscow to draw on its own dollar reserves. Ambassadors from the 27 European Union countries are expected to meet on Wednesday and the sanctions being considered are expected to target Russian oligarchs and energy products.
Zelensky before the UN Security Council
President Zelensky is due to speak to the UN Security Council on Tuesday. This meeting should focus on the accusations of war crimes formulated by Ukraine against the Russian army. Moscow, which denies being responsible for these massacres, has announced that it will present evidence to the Security Council that the Russian army is not involved.
On the macroeconomic front, the market will watch the final S&P Global PMI indices in the services sector in the euro zone for the month of March, as well as their ISM equivalent in the United States.
On the value side, Casino announced that it had sold the balance of its stake in the shopping center operator Mercialys, ie 10.3% of the capital, for 87 million euros.
Societe Generale announced that its online bank Boursorama had signed a definitive agreement with ING allowing it to offer preferential offers to take over the Dutch establishment’s retail banking customers in France.
Among the analyst notes, JPMorgan took over the coverage of LVMH to “outperformance”, as well as those of Kering and Hermes to “neutral”.