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The Paris Stock Exchange drops 4% at the opening after the Russian attack in Ukraine

2022-02-24T08:16:22.450Z


The trend is not unique to France. The military operation worries the world's financial markets and drives up the price of raw materials.


"

Demilitarization

" for Vladimir Putin, "

large-scale invasion

" for Ukrainian President Volodymyr Zelensky, whatever the words, the military operation ordered overnight by the head of the Kremlin is also spreading panic on the financial markets.

Starting with Paris, which lost more than 4% at the opening.

LiveUkraine: Putin announces 'military operation', Kiev denounces 'large-scale invasion'

But the movement is global.

Asian stock markets were the first to be affected.

That of Tokyo ended Thursday sharply lower and that of Hong Kong lost more than 3% in the afternoon after the outbreak of the Russian attack on Ukraine.

The day before, the American indices had already been strongly shaken by the risk of invasion.

At the close, the Dow Jones index dropped 1.38% to 33,131.76 points, its fifth session of decline in a row.

The technology-dominated Nasdaq lost 2.57% to 13,037.49 points.

The S&P 500 confirmed its correction of more than 10% since its January peak, falling 1.84% to 4,225.50 points.

In an attempt to avoid a collapse in prices, the Russian stock exchanges in Moscow and Saint Petersburg, closed at that time, have for their part announced that they will suspend trading on their platforms.

Finally, the latter reopened around 8 a.m. (Paris time), down nearly 14%.

The Moex index (in roubles) was down 13.97%, while the RTS (denominated in dollars) plunged 20.16%, according to figures from the financial platform.

The barrel of oil crosses 100 dollars

The geopolitical situation sowed a wind of panic on raw materials - oil, European natural gas, or even aluminum being on the rise.

Brent oil from the North Sea rose above $100 and aluminum hit a new high of $3,382.50 a ton at $3,382.50 a ton.

The ruble, for its part, temporarily fell by 9%.

Read alsoTokyo and Hong Kong stock markets slip after Russian attack on Ukraine, oil soars

The Russian Central Bank announced Thursday to begin "

interventions

" in the foreign exchange market in order to "

stabilize the situation

" after the fall of the ruble.

These measures are intended to "

provide additional liquidity to the

Russian banking sector", threatened by Western sanctions.

"

The Bank of Russia will ensure the maintenance of financial stability and the continuity of operations of financial institutions, using all the necessary tools

", she further indicated, ensuring that it has "

clear action plans for any scenario

" .

.

Source: lefigaro

All news articles on 2022-02-24

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