Home Business European stock exchanges at the window. Oil stocks fell with oil in the red

European stock exchanges at the window. Oil stocks fell with oil in the red

by admin

(Il Sole 24 Ore Radiocor) – Another weak session for the European stock exchanges, after the flat calm of the eve and despite the explosion of infections from Covid-19 in some countries such as Germany and Austria giving cause for concern. At the same time, the increase in infections could be a guarantee monetary policy still accommodating, in spite of the rise in inflation, which in the Old Continent reached 4.1% in October. The drop in the price of oil remains in focus, with stocks in the sector under pressure. In the session of Wednesday 17 November, Wall Street also closed lower, even if now the futures on the US market are slightly up.

FTSE Mib stock market trend

Loading…

More purchases on Prysmian, weak oil stocks

At Piazza Affari with the FTSE MIB not very moved, Prysmian continues to rise, while rumors are racing that Europe could impose tariffs on fiber for tlc from China.Moncler reaches new records by now within a whisker of 70 euros per share . Very positive indications for the sector have emerged from the latest conferences on luxury. Cnh Industrial also run. The rumors about the possible exit from the capital of Generali by De Agostini, who holds 1.4% of the shares, did not shake the company’s quotations. Mediobanca, on the other hand, is on the rise, with the market questioning the moves of Leonardo Del Vecchio, who according to press rumors could ask the ECB for the ok to increase more than 20% of the share capital. Finally, oil shares are doing badly, affected by the sharp drop in crude oil: Eni, Saipem and Tenaris in the red.

See also  Full investigation!This big province took the lead and the National Development and Reform Commission said: "eliminate"_Sina News

Down with crude oil, China releases part of its strategic reserves

Still a minus sign for oil prices. «The movement of crude oil – say the analysts of Mps Capital Services – is due to fears of a release of strategic reserves by the major countries (China and the USA). A first signal in this direction came tonight from China which announced that it will release part of the strategic reserves, but without providing more details at the moment ”. The impact on prices, in addition toad effect that you are already seeing, it will depend a lot onextent of the transaction. «The dynamics of prices
of oil – they continue – will be important, as if prices were to remain contained (below 80 dollars a barrel) even in the coming weeks, this should lead to less upward pressure on inflation in the data for November and especially December ».

The dollar falls again, always eyes on the Fed

The dollar folds back against the main currencies and the euro rises to 1.135. «The current weakness of the American currency could however dissolve towards the last weeks of the year – say the analysts of ActivTrades – given the expectations that the Fed will increase the pace of tapering and establish more solid prospects for rate hikes in 2022». According to analysts, the likelihood of a Fed easing of stimulus measures increased following US inflation data last week and Tuesday’s retail sales, both of which surprised to the upside.

0 comment
0

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy