MILANO – Spotlight on Russia and Ukraine also in the last session of the week. European stock exchanges recovered after a declining start, only partially discounting Moscow’s acceleration on gas, with President Putin yesterday signing a decree requiring the payment of supplies in rubles. The effects are felt, however, on the price of gas, which jumped this morning in Amsterdam to 132 euros per MWh, up by 4.8% compared to yesterday’s closing. In London, on the other hand, the price rises to 305 pence per Mmbtu, an increase of 1.9%. Milano salt of 0.4%, London 0.35%, Frankfurt 0.21% e Paris 0.35%.
Inflation is still holding the ball in Europe, with Eurostat reporting a new record in March. Prices last month grew by 7.5% in a year compared to 5.9% in February, mainly driven by energy goods (+ 44.7% compared to the plus 32% in February). Worse than expected, the data on the manufacturing pmi index in Italy, which fell in March to 55.8 from 58.3 in March. THE
Asia contrasted
A mixed day in Asia. In Tokyo, the Nikkei closed down 0.56%, weakened by the strengthening of the yen against the dollar, to the detriment of exporting companies. While trading is still in progress, Hong Kong and Seoul are down (-0.6%), while Shanghai (+ 0.8%), Shenzhen (+ 0.48%) are in positive territory
Euro little moved
Between currencies, theeuro, traded at $ 1.1061, with a very slight decrease of 0.05% on yesterday’s prices. On the other hand, as mentioned, the yen strengthened, rising to 122.38 against the dollar after having touched the minimum levels for seven years, and against the euro at 135.34. On the other hand, the spread is decreasing: the spread between BTP and Bund opens down to 146 basis points, compared to 149 points at yesterday’s closing. The yield of the Italian 10-year is stable at 2.03%.
The effect of stocks on oil continues
The decision of the US administration to draw on strategic reserves continues today to deflate the price of Petroleum. After yesterday’s decline, contracts are also down today: the May future on the WTI drops another 1.33% and falls below the threshold of 100 dollars a barrel to 98.95 dollars, the one on Brent slips by the same expiry date. 1.11% to $ 103.55.