The companies most exposed to Russia, in particular the automobile or the banks, jumped on the Paris Bourse on Tuesday after the announcement of progress in the negotiations between Ukraine and Russia.
These companies were coming back into favor in the eyes of investors, after having been neglected since the beginning of the conflict.
The CAC 40 for its part took 3.41% shortly after 2:50 p.m.
LIVE - War in Ukraine: "
sufficient
" conditions for a Zelensky-Putin meeting, says the Ukrainian negotiator
Russia promised on Tuesday to "
drastically " reduce its military activity in the direction of Kiev and Cherniguiv in Ukraine, after "
substantial
" Russian-Ukrainian talks
in Istanbul.
The Ukrainian negotiator believes that the conditions for a first meeting between Ukrainian President Volodymyr Zelensky and his Russian counterpart Vladimir Putin since the start of the Russian invasion on February 24 are now "
sufficient
".
Thales in pain
Renault, whose Russia is the second market after Europe via the AvtoVAZ group, took 9.57% to 25.24 euros, after taking more than 10%.
Its competitor Stellantis, climbed 6.75% to 15.43 euros.
The entire automotive sector was at the party, Faurecia took 12.13% to 25.42 euros, Valeo 11.59% to 17.28 euros and Plastic Omnium 10.03% to 17.22 euros.
Read alsoWar in Ukraine: Renault draws a line under fifteen years of adventure in Russia
Banking stocks also took off, but Societe Generale, which indicated in early March that it was exposed to Russia to the tune of 18.6 billion euros, including 15.4 billion for Rosbank, benefited the most (+7.39% at €25.79).
Alstom, particularly exposed to Russia with its 20% stake in local rail builder Transmashholding, also accelerated with +7.87% to 22.34 euros.
Conversely, Thales, whose defense activities have been acclaimed by investors in the context of war, suffered and fell 5.81% to 111.20 euros.
