Home Business Bags in search of redemption, Milan stands out. Still in the sprint oil and gas

Bags in search of redemption, Milan stands out. Still in the sprint oil and gas

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Bags in search of redemption, Milan stands out.  Still in the sprint oil and gas

(Il Sole 24 Ore Radiocor) – In the aftermath of a high-tension session, with Milan which came to yield 6 percentage points, and then turned upwards and closed down by 1.3%, the European indices attempted redemption, with some uncertainty. The FTSE MIB stands out, the best among the indices, and while in Europe a European bond is being studied to cope with the fallout of the crisis, on the energy and defense front. According to Bloomberg reports, the proposal could be presented after the summit in Versailles on 10 and 11 March.

Meanwhile, eyes remain on the war, with the new truce attempt to evacuate Ukrainian civilians and negotiations moving towards a fourth round. Meanwhile, the clashes continue and, during the night, Russian planes bombed several cities in central and eastern Ukraine. Tension on raw materials remains high, following the US ban on exporting oil from Russia

Oil at the top for 14 years, the gold rush continues

Oil prices hit a 14-year high, following the Biden administration’s hypothesis to impose a ban on oil exports from Russia as the war in Ukraine continues and deepens. After having slowed the pace during trading in Asia, gold returns to rise and is back above level $ 2,000 an ounce, passed for the first time since August 2020 in the session of Monday 7 March. Platinum and palladium also rose just below the all-time high of $ 3,440.76 on Monday. Silver and iron also grow. «There is not only the issue of possible new sanctions on Russia and the hypothesis of a halt to exports of Russian oil. The markets readjust, absorbing all the information, ”say City Index analysts.

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New record for nickel over 100 thousand dollars per ton

The price of nickel continues its run and reaches new records, climbing even if for just over 100,000 dollars per ton. Investors are worried that Russia will no longer be able to export its production. The all-time record of $ 101,365 per ton was hit shortly after 06:00 GMT, after breaking an all-time record the day before.

Exchange rates: the ruble rebounds, euro / dollar in the 1.08 area

Partial rebound of the ruble after the collapse and new recovery of the dollar, while Europe discusses the possible sanctions on the import of crude oil from Russia and with the temporary ceasefire in Ukraine for the evacuation of civilians from the areas under attack. After falling to area 150, the ruble bounced back to 123 and then returned to area 130. At the moment, 128 rubles are needed for one dollar (-7.4%). Meanwhile, the euro remains under pressure with concerns about the effects of the war on economic recovery and the wait for the indications of the ECB tomorrow. The single currency is trading at 1.0856 as it closed yesterday and at 125.3 yen.

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