The Paris Bourse benefited from a technical rebound on Friday, supported by comments from the Russian president that discussions would move in a positive direction with Ukraine, but the geostrategic and economic context remains very uncertain.
In Paris, the CAC 40 index gained 0.85%, or 53.05 points at 6,260.25 euros, allowing it to end a week with a gain of more than 3%, but its losses have risen more than 12% since then. the beginning of the year.
The week was still turbulent, marked by strong variations, such as a drop of more than 5% in trading on Monday and a spectacular rebound of more than 7% on Wednesday.
“All it takes is a clearing in a very dark environment for investors to buy back what they have sold” according to developments in the conflict in Ukraine, explains AFP Daniel Larrouturou, equity manager Dm Finance.
“The markets are very active with very large volumes”, going from a relatively optimistic view to thinking that there is a place for negotiations” “the reality of images that are still just as terrible” on the ground, observes the expert .
In addition to the difficulty of assessing the military situation, investors are also faced with assessing the economic situation with the impact of commodity prices, such as energy or wheat, on inflation.
Investors fear a shock of stagflation, in other words a reduction in growth caused by a rise in prices which reduces the purchasing power of households.
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Witness to this concern about inflation, US consumer confidence deteriorated further in March, now at its lowest level in more than 10 years.
Russia weighs in on Renault
Biggest drop in the CAC 40, Renault (-1.85% to 22.31 euros) continued to suffer from its exposure to Russia. Over the week, its losses amounted to more than 3%.