The star CAC 40 index ended at 6,061.66 points, returning to its level at the end of March 2021.

Over the week, the index sank by 10.23%, its worst weekly performance since the announcement of the first confinement in France to fight the Covid-19 epidemic.

The Russian army occupied the Ukrainian nuclear power plant in Zaporozhye (south), the largest in Europe, on Friday, where bombings during the night raised fears of a disaster.

Russian tank fire against the plant set fire to a building dedicated to training and a laboratory, but no radioactive leak was found, Ukrainian authorities said.

“The market has been integrating a geopolitical risk for a few days but there it is starting to integrate a risk of recession, of economic contraction in the first quarter”, notes Alexandre Baradez, analyst at IG France.

The war in Ukraine is pushing commodities, especially gas and oil, to highs and fueling already high inflation in the United States and Europe.

The repercussions of the conflict will be felt for "all companies, due to the rise in energy prices, even those which are not directly exposed to Russia in their activities", underlines Mr. Baradez.

The prices of agricultural raw materials were also at their highest.

Societe Generale and Alstom, the most penalized

Societe Generale, present in Russia via Rosbank, fell 10.03% to 20.81 euros.

Over the week the bank lost almost 27%.

Alstom, which has a 20% stake in the railway manufacturer Transmashholding, lost 9.04% to 19.11 euros and recorded a weekly loss of more than 17%.

Over the week, other highly exposed companies such as Renault (-24.29%), Engie (-25.55%) or Accor (-16.69%) experienced sharp declines.

ArcelorMittal, Michelin and Hermès suspend activities

ArcelorMittal (-8.06% to 26.74 euros) announced the suspension of all its steel production in Ukraine with the hibernation of its Kryvyi Rih plant, due to the conflict.

Michelin (-7.16% to 108.85 euros) will stop production at some of its factories in Europe because of "logistics" problems related to "the serious crisis currently unfolding in Ukraine".

Hermès (-4.01% to 1,160.50 euros) has decided to "temporarily close" its stores in Russia and to pause its commercial activities from Friday evening.

Decrease in Bonduelle's profit

The Bonduelle group posted consolidated net profit down sharply by 24.8% in the first half of its staggered fiscal year.

Its action fell 8.36% to 16.22 euros.

© 2022 AFP