MILANO – 12 noon European stock markets move downwards, weakened by fears about the spread of variante Omicron and on the possible repercussions on the economies of the countries. The United States yesterday confirmed the first case in the country, fueling concerns Wall Street which yesterday closed in decline. On the markets, however, there are also those who take positive elements from the diffusion of the new variant. This is the case with the analysts of JpMorgan Marko Kolanovic and Bram Kaplan, according to which the fact that Omicron is currently more transmissible but less lethal can be interpreted as a signal of evolution of the virus towards less serious forms. The virus would thus be destined to become more similar to seasonal forms of flu and the end of the pandemic could be closer.
In Europe, the lists are confirmed with the negative sign: Milano the 0.8% yields, London marks -0.63%, Frankfurt gives l’1.2% and Paris 0.9%.
Closing in no particular order for the Asian stock exchanges, which, like the other markets, are affected by fears due to the spread of the Omicron variant of Covid. The United States yesterday confirmed the first case of the new variant, upsetting the world financial markets, already anxious about its potential impact on the recovery. There Tokyo Stock Exchange closed down 0.65% at 27,753.37 points, Shanghai filed a 0.09% to 3,573.84 points while Hong Kong it rose by 0.55% to 23,788.93 points. Very good Alone which gains 1.57% at 2,945.27.
Spotlight on Petroleum today with the meeting of the Opec + countries. Some analysts expect the Organization of Exporting Countries and its allies to be able to suspend the 400,000 barrels per day increase in production starting in January due to the turmoil related to the spread of the new variant. WTI futures gained 1.30% to $ 66.42 a barrel while Brent rose 1.26% to $ 69.78 a barrel.
On the foreign exchange front, theeuro it was stable on the dollar and changed hands at 1.1316 with a variation of -0.04%. Single currency slightly up against the yen to 128.1 (+ 0.36%). The story of the Turkish lira is updated with the news of yet another round of seats at the top of the financial figures: the president Recep Tayyip Erdogan appointed a new Minister of Treasury and Finance after the resignation of Lutfi Elvan, while the value of the Turkish lira fell to an all-time low. Erdogan has appointed Deputy Minister Nureddin Nebati to lead the dicastery, according to an announcement published in the Official Gazette. According to what was reported in the Gazzetta, Elvan asked to be “exonerated from office” and the request was granted. His resignation comes as the Turkish lira it is plunging to all-time lows on concerns over the government’s economic policy, following a series of loan cost cuts despite rising inflation. The Turkish currency has lost around 40% of its value since the beginning of the year.
Little moved it spread German BTP and Bund: the differential marks 135 basis points, on the same line as yesterday’s closing. The yield on the Treasury product is 1%.