The Paris Stock Exchange folds pending a change in the geopolitical situation

In Europe, no clear trend emerged, with London and Milan rising 0.51% and 0.45% respectively, while Frankfurt and Madrid ended down 0.60% and 0.25%.

In New York, the markets followed the same trend, the Dow Jones retreating 0.47% at the open, while the Nasdaq, the index of the main technology stocks, lost 1.05% and the S&P 500 0, 34%.

In a context of moderate trading, the Paris market remained close to equilibrium for more than half of the session before falling back.

"Several big meetings are planned from Thursday, including that of the G7, and they will necessarily revolve around Russia and a potential embargo on Russian oil, the market is paying attention to it," explained to AFP Alexandre Baradez. , analyst at IG France.

Added to this risk of embargo are tensions in the Middle East: Saudi Arabia announced on Sunday a "temporary reduction" in its oil production after an attack by Yemeni Houthi rebels on some of its facilities, causing a rise in oil prices which heightens uncertainty about the evolution of inflation in the medium term.

At the same time, bond rates continue to rise.

"The markets are generally showing themselves to be optimistic, perhaps a little too much. The bet is that we are not in an escalation, even if the question of the embargo is not ruled out. And the positions of the central banks remain still seen as headwinds," Baradez added.

In Washington, Fed boss Jerome Powell spoke at a conference on "sustainable and inclusive growth" on Monday, days after he began raising interest rates to fight inflation.

He assured that the US central bank was ready to accelerate this rate hike in 2022 if necessary.

The President of the European Central Bank (ECB), Christine Lagarde, for her part affirmed that economic activity in the euro zone did not show any signs of "stagnation" today.

ArcelorMittal in great shape

The steel group ArcelorMittal has largely benefited from the persistent tensions on raw materials, in particular aluminum, its title appreciating by 5.48% to 29.93 euros.

New boss at Vallourec

Seamless tube manufacturer Vallourec announced on Monday that it has appointed Philippe Guillemot as CEO to "accelerate the company's transformation and growth trajectory".

The action of the group ended up 4.32% to 10.62 euros.

© 2022 AFP