Oil has crossed the $ 100, which he had not known since the beginning of 2014. The price of aluminum, essential for the automotive and building sectors, approach a new historic record .
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The European scholarships fell sharply at the opening, Thursday, February 24, a few hours after the launch by Russia of a military offensive in eastern Ukraine. At the opening, Paris returned from 4.19%, Frankfurt of 4.39% and London 2.55%. Eurostoxx 50, European reference index, lost 3.52% in a very high volume of exchanges. Asian places also accused Hong Kong (-3.24%) in Shanghai (-1.70%) to Tokyo (-1.81% at closing). In Moscow, the market plunged more than 30% while the ruble fell to a historically low level facing the dollar.
On the commodity side, the oil has crossed the $ 100 (90 euros), which he had not known since the beginning of 2014. And the Dutch reference futures contracts have gained up to 41 % in the Nederlands. All major analysts in the energy sector (Goldman Sachs, Wood Mackenzie, Rystad Energy …) expect very high prices during the year due to a resource deficit for electricity generation, Industry and heating.
Metals will also flamber. The price of aluminum, essential for the automotive and building sectors, approaches $ 3,400 per tonne, a new historic record. One of the largest global producers, Russia could curb or stop its exports in retaliation with severe sanctions from Westerners, which may also be deprived of rare metals essential to the ecological transition. The concern also focuses on wheat, including Russia and Ukraine are the first and fifth world exporters: the price of the cereal had earned 10% in two days, before the Russian intervention, at $ 16.71 the bushel for Delivery in May – never seen since September 2012.
Tobacco for some French companies
No business has escaped massive sales on CAC 40. But some French companies, very established in Russia, have suffered a stronger tobacco. Present through its subsidiary Avtovaz, Renault crumbled 8.31% at the opening. Russia is its second market, with 482,000 vehicles sold in 2021, just after France (522,000). The company is in a delicate position: if the Renault-Nissan-Mitsubishi alliance is the majority in Avtovaz, Rostec, the agency managing the participations of the Russian state still holds 32%. And Russia is one of the few countries in which the manufacturer wins money (operating margin of 8.6% in 2021).
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