Launch of the Russian invasion on Ukraine is a top event in the markets today and will likely remain so in the coming days. Beginning of military action sent global stock markets sinking. Russian stocks are the most impacted as severe and unprecedented sanctions are expected to be levied on Russia by the West. However, some European stocks are also taking a big hit today. Below we present some of the most impacted stocks from the Euro Stoxx 600 index.
Polymetal International
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Open account Try demo Download mobile app Download mobile appPolymetal International (POLU.UK), an Anglo-Russian precious metals mining company, is plunging over 30% at London Stock Exchange today. Sanctions on Russia that will be announced by the Western countries later today are expected to be severe and may completely ban ties of Western companies with Russian companies. As a result, a UK-Russia precious metals mining company may have a hard time operating under such restrictions.
Shares of Polymetal International (POLY.UK) slumped over 30% so far today. Investors exit positions in UK-Russia precious metals mining company amid fear of severe sanctions on cooperation with Russian entities. Weekly chart. Source: xStation5
Wizz-Air
Wizz-Air (WIZZ.UK) is a UK airline and one of the most popular European low-cost carriers. This airline is the most exposed to Ukraine and Russia out of all European airlines. Airspace for civilian aircraft over Ukraine has been closed today in order not to endanger passengers. Stock is trading over 15% lower today.
Shares of Wizz-Air (WIZZ.UK) launched today's trading with a big bearish price gap. Ukraine is one of the most important markets for the company and closing of Ukrainian airspace to civilian aircraft will prove to be a hit to the company's business. However, bulls managed to defend the support zone at 30 GBP per share. Source: xStation5
Renault
Renault (RNO.FR) is a large European carmaker domiciled in France. The company is dropping over 7% today as Russia-Ukraine conflict and threat of sanctions on Russia poses a significant risk to its business. Russia is the second largest market for Renault, after France, and accounts for around 17% of global vehicle sales by Renault.
Renault (RNO.FR) also launched today's trading lower. Stock managed to defend the €27.80 support zone and started to recover some of the losses. Nevertheless, French carmaker continues to trade almost 8% lower on the day. Source: xStation5
Societe Generale
Societe Generale (GLE.FR), one of the largest French banks, is taking an over-9% hit today. The company has around $20 billion exposure-at-default to Russia. While this is a big amount, it is said to be manageable financially by the French lender. However, analysts expect the Bank to report big provisions on this exposure in Q1 2022 earnings report.
Societe Generale (GLE.FR) is one of the European banks said to have the biggest exposure to Russia. Share price of the company trades over 9% lower today and is making a break below a key mid-term support - 200-session moving average (purple line). Source: xStation5
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