Around 10:40 a.m., the CAC 40 index fell 1.15% to 6,713.85 points after rising 3.08% the day before.
"The situation remains fragile, which is hampering further growth," observes Andreas Lipkow, analyst at Comdirect.
And "as long as no contract is signed between Russia and Ukraine, the subject should continue to cause strong variations" on the markets.
The city of Cherniguiv, in northern Ukraine, was the victim of shelling "all night long", the governor of the region announced on Wednesday, despite Moscow's announcement the day before of a reduction in its military activity in this zone.
News on the economic front was no more positive in Germany where the influential group of economists who advise the government slashed their 2022 growth forecast for Europe's biggest economy, revised from 4.6% to 1.8 % due to the war in Ukraine.
The committee, commonly referred to as 'the sages', also expects inflation to peak at 6.1% this year before falling to 3.4% in 2023, when GDP growth is expected to rebound to 3.6%. , according to a press release.
On Tuesday, investors were reassured by hopes for peace which reduce fears of shortages of raw materials, and therefore inflation.
The struggling industry
The industry sector, the first to suffer from supply cuts in the event of a stoppage of Russian deliveries, suffered, like car stocks Renault (-5.23%), Stellantis (-2.26%), Faurecia (-6.40%), Valeo (-4.83%) and Michelin (-2.56%).
Saint-Gobain (-3.45%), Safran (-2.71%) and Airbus (-2.50%) were also affected.
URW relies on data analysis
Shopping center giant Unibail Rodamco Westfield (URW) will focus on targeted advertising and data mining to generate more revenue.
The action yielded 0.36% to 68.34 euros.
© 2022 AFP