TREND
Downward momentum will continue on the CAC40, which is expected to be below 6,000 this morning after retracing -4.97% on Friday. The Paris index could open more than 100 points. The military situation in Ukraine shows no improvement in the ongoing conflict and investors prefer to flee risky assets. On the contrary, the price of a barrel of Brent crude rose to $138 a little earlier in the morning amid the threat of a potential ban on Russian oil imports. Commodities in general continue to rise. Nickel and copper are at all-time highs and gold is back to $2,000!
Moody’s Investors Service on Sunday downgraded Russia’s long-term issuer rating in national and foreign currency, as well as senior unsecured debt rating in national and foreign currency from “B3” to “This”. The prognosis is “negative”. Moody’s Investors Service also downgraded Ukraine’s long-term issuer rating in national and foreign currency from B3 to Caa2, as well as the senior unsecured debt rating in foreign currency.
WALL STREET
The war in Europe continues to put heavy pressure on financial markets… Despite higher-than-expected monthly employment figures across the Atlantic, Wall Street fell on Friday, also under pressure from falling European markets. The Dow finally added 0.53% to 33,614, the S&P 500 shed 0.79% to 4329 and the Nasdaq shed 1.66% to 13313. Concerns about the situation in Ukraine have intensified after the attack of the Russian army on the Zaporozhye nuclear power plant, where a fire broke out on the night of Thursday to Friday, which is now under control.
ECO AND CURRENCIES
United States :
– Consumer credit. (9:00 p.m.)
Europe:
– German industrial control. (08:00)
– House price index in Halifax in the UK. (08:00)
– Sentix Investor Confidence Index. (10:30)
This morning the euro/dollar parity reached $1.0893. A barrel of Brent is trading at $128.89. An ounce of gold is trading at $1974.
VALUES TO FOLLOW
Thales: The Polish Armed Forces have chosen Thales as the reference supplier for the French Navy’s MIECZNIK frigate program, which is of strategic importance to Poland. Thales offers its integrated combat system as part of a comprehensive and reliable solution that will meet the country’s operational and industrial expectations.
Danone announced on Sunday it was suspending its investment projects in Russia. “We have decided to suspend all investment projects in Russia. At the moment, we maintain the production and distribution of fresh dairy products and baby food in order to provide the basic needs of the civilian population for food,” the message says. Group Secretary General Laurent Sacchi on Twitter. “We are following the development of the situation in real time and will of course apply the decisions of the French authorities, with whom we remain in close coordination.” The group, which is due to present its new strategic plan next Tuesday, also said that one of its two factories in Ukraine has closed, while work has just resumed at the second…
Pierre et Vacances: Announces significant progress in discussions on the support process and the extension of the exclusive rights granted to Alcentra, Fidera and Atream until Wednesday March 9th in order to reach a final agreement.
THEY PUBLISHED THEIR TURNOVER/RESULTS…
Xilam, Forsee Power, Nextedia, Prodways, CBo Territoria, Selectirente, Carmila, DLSI, CNP Assurances, IGE+XAO
LATEST REKO FROM ANALYST…
Berenberg raises his SG hold recommendation to €25.50 and Jefferies remains a buy, but the adjusted target is lowered from €48 to €31.
Jefferies remains long BNP Paribas but with a target price reduced to €77 and remains long Crédit Agricole with a reduced target price of €14.80.
Jefferies cuts its price target for Valeo shares from €22 to €13.5.
JP Morgan raises Thales price target to 140 euros from 125 euros.
AlphaValue remains long Stellantis with an adjusted target of €20.25.
MARKET INFORMATION
Maisons du Monde: Majorelle Investments owns 16.02% of the capital.
IN BRIEF
Kering is reorganizing its new board of directors.
Carrefour opens a new home delivery logistics center in Aix-en-Provence.