Aurélien Fleurot, edited by Ugo Pascolo 4:17 p.m., February 24, 2022
Wheat, rapeseed, oil, CAC40 which is unscrewing... The economic consequences of the Russian invasion launched in Ukraine were not long in coming.
However, the variations remain fairly limited for the time being and panic has not taken hold of the markets.
The economic consequences are not long in coming.
Only a few hours after the start of the Russian offensive in Ukraine, the markets have already reacted.
The European stock markets thus fell very quickly at the opening on Thursday morning: a fall of 4% to 5% was observed on the CAC 40, while the price of oil rose.
For its part, the price of wheat soared, at the same time as that of rapeseed.
However, Stéphane Boujenah, CEO of Euronext, the main stock market in the euro zone, does not give in to panic.
“There is no panic in the markets”
"The GNP [gross national product, the wealth produced by a country, editor's note] of Russia is halfway between that of Spain and Italy", he recalls.
And "the dependence of most French and European companies on Russia is not central."
If there are, however, sectors where "real vulnerabilities are concentrated, it must be understood that at this stage, there is no panic on the markets", he nuances.
The main drop to report is at Société Générale, which fell by nearly 11%, even if its Russian subsidiary Rosbank only represents 2% of its international activity.
As for Renault, it lost 9%, as did Saint-Gobain and BNP Paribas.
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+21% for natural gas
The Russian invasion also has serious consequences on the price of oil, since the barrel of crude has exceeded 100 dollars for the first time in seven years with a rise of 6%.
Natural gas, for its part, suffered a sharp rise of 21% in Europe, while the prices of aluminum and wheat reached record highs.