Home » The stock exchanges of today, 1 December 2021. Price lists oriented towards recovery. Erdogan does not give up on rates, Turkish lira at peak

The stock exchanges of today, 1 December 2021. Price lists oriented towards recovery. Erdogan does not give up on rates, Turkish lira at peak

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MILANO – The price lists seem to be oriented towards a rebound, while investors weigh the different elements on the table: on the one hand, concerns about Omicron and the impact that the new variant of Covid may have on the current economic recovery. On the other hand, the problem of inflation, now well present both in Europe and in the United States: the president of the Fed, Jerome Powell, raised the tone with his latest public release by admitting that it is now out of place to talk about a “temporary” figure “and opening up to the possibility of an acceleration in the withdrawal of stimuli, precisely to cool prices.

Futures on European stock exchanges are moving higher after yesterday’s negative session on which these scenarios of possible acceleration of the pace of the tapering. The contract on the Eurostoxx 50 rises by 1.03%, the one on the Frankfurt Dax by 0.91% and the one on the London FTSE by 0.76%. Futures on Wall Street are also positive: the one on the Dow Jones advanced by 0.58%, the one on the S&P 500 by 1.03% and the one on the Nasdaq by 1.56%.

Already in the morning, the mood on Asian stock exchanges was positive. There Tokyo Stock Exchange it closed higher, ending a streak of three consecutive negative sessions. The market was supported by the rebound of futures on US markets after the thud recorded last night by Wall Street. The Nikkei Index gained 0.41% to 27,935.62 points, while the Topix rose 0.44% to 1,936.74. As a note Bloomberg, the MSCI Asia-Pacific Index posted the largest gain since mid-October. Meanwhile, the Treasury yield curve flattened again with the ten-year yield, recovering slightly, however below 1.5%.

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The prices of the Petroleum, which in recent days have moved in a manner strictly correlated to the generalized concerns for the economic recovery and the variants of the virus, are trying to rebound on the Asian markets after the thud triggered yesterday. In Singapore, Brent futures contracts advanced 2.7% to $ 71.13 a barrel, while WTI futures rose 2.6% to $ 67.89. In the afternoon, the OPEC countries will meet in view of the OPEC + meeting scheduled for tomorrow. Some analysts expect that the organization, in the wake of the resurgence of Covid and the US decision to release part of its crude oil reserves, may decide to scale back the production increase plan in January which currently provides for an increase of 400,000 barrels per year. day every month. Saudi Arabia and Russia would seem to be pushing in this direction, but there is no shortage of countries, such as Iraq, which have officially expressed their opposition.

Off the main radar is the new thud of the Turkish lira, which yesterday lost 4% against the dollar and the euro, exceeding the level of 15 lire for one euro for the first time. The new lows were reached after the president Recep Tayyip Erdogan he reiterated that he was opposed to any “compromise” on the level of interest rates, despite the devaluation of the currency and the rush of inflation: the November figure will be announced on Friday and according to some experts it could be above 20%. At the moment the lira is trading at 13.44 for one dollar and 15.15 for one euro. The single currency, on the other hand, opens stable against the dollar in the 1.1335 zone and gains ground against the yen at around 128.55. The greenback also advanced against the Japanese currency around 113.45.

Among the raw materials,oro is on the rise this morning on the markets: it is gaining 0.7% to $ 1,788.1 an ounce.

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