(Il Sole 24 ore Radiocor) – In the aftermath of a declining session, European stock exchanges move modestly higher, with eyes on the extraordinary summit of NATO and the G7 and on the European Council, in which American President Joe Biden will also participate. All appointments during which the war in Ukraine will be discussed and the way forward, even after Kiev accused Moscow of using white phosphorus bombs on Hostomel and Irpin.
Meanwhile, the bond sell-offwith US Treasuries falling as investors weigh the risks of rising inflation and possible more aggressive moves by the Federal Reserve.
Partial reopening for the Moscow Stock Exchange, Moex index rises
Partial reopening for the Moscow Stock Exchange, even if trading is limited, from 9.50 am to 2.00 pm local time. The stock market had been closed since February 25th, after the Moex benchmark index, denominated in rubles, had lost 33% the day before (the day the invasion of Ukraine began, ed.). When it reopened it went up by more than 10%. The exchanges concern 33 of the 50 stocks that are part of the Moex benchmark index, among these are giants such as Gazprom, Rosneft, and Lukoil, which rose sharply, while Aeroflot loses ground. On the other hand, the RTS index, denominated in dollars, fell by 5%. The capitalization of the Russian market is very limited compared to that of the main European and Asian stock exchanges. Foreign investors cannot sell shares on the market and short selling has generally been prohibited.
Little oil moved, eyes on hypothesis agreement with Iran
After the rally in recent days, with the WTI closing 5.1% up, a breath away from $ 115 a barrel, crude oil slows down, but the session promises to be volatile. Investors on the one hand evaluate the impact of the war in Ukraine on supplies, on the other they look at the possibility of an agreement with Iran, as hypothesized by the American national security adviser, Jake Sullivan. “If Iranian export restrictions were lifted, it would be an immense help to alleviate the current tensions on the oil market,” Jbc Energy analysts explain. However, an agreement still seems to be yet to come. Meanwhile, WTI futures maturing in May fell by 0.55% to $ 114.3 a barrel, after losing 1.3%, while Brent futures of the same maturity are barely moved at $ 121.62. .
At the opening, on the other hand, natural gas contracts expiring in April traded in Amsterdam decreased (-3.4% to 112.98 euros per megawatt hour), which are not affected by the announcement of Russian President Vladimir Putin, who said he will not accept more euros and dollars, but only rubles, for Russian gas payments.