The Paris Stock Exchange fell again on Tuesday, despite the continued decline in oil prices. Brent oil from the North Sea fell back below $100 a barrel for the first time since March 1, in response to the prospect of slowing Chinese growth after the shutdown of major cities in the world. countries in the face of the resurgence of the Covid pandemic. China is the world’s largest oil importer.
TotalEnergies dropped up to 3% before ending on a stable note.
the Bedroom 40 closed down 0.23%, at 6,355 points, after losing up to 2.5% in session, with luxury stocks which are among the largest declines. China is the biggest customer ofHermes, Kering and LVMH.
While crude oil prices are down, gas prices are up, while the manager of the German gas network Gascade warned this morning that he no longer saw Russian gas passing through the Yamal gas pipeline, one of the three that supply Europe.
The European Union has adopted new sanctions against Moscow by prohibiting major rating agencies from evaluating the sovereign debt of Russia and the country’s companies. “These sanctions will further increase economic pressure on the Kremlin and weaken its ability to finance its invasion of Ukraine”the Commission said in a press release.
The fourth round of talks between Russia and Ukraine resumed today, but the likelihood of an agreement on a ceasefire remains low, if any in the immediate future. kyiv has declared a 36-hour curfew starting at 8 p.m. local time, following Russian missile fire against several apartment buildings.
The United States, on the basis of its intelligence services, informed its allies that China was willing to provide assistance to Russia in the field of armaments, reports the FinancialTimes citing officials familiar with diplomatic cables on the subject.
In New York, the Dow Jones and the S&P 500 recovered around 1.5%. In the United States, producer prices rose by 0.8% last month, a slight slowdown of 0.1 point compared to January, against +0.9% expected by the market. Excluding food and energy, the rise is limited to 0.2%, against +0.6% expected. Investors are limiting initiatives, however, on the eve of the Fed’s monetary decision, which is expected to raise interest rates for the first time since the end of 2018.