Home » The stock exchanges today, February 22nd. Russia scares the markets: down the lists. Oil, gas and safe haven assets are on the rise

The stock exchanges today, February 22nd. Russia scares the markets: down the lists. Oil, gas and safe haven assets are on the rise

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The stock exchanges today, February 22nd.  Russia scares the markets: down the lists.  Oil, gas and safe haven assets are on the rise

MILANO – 9:30 am. Opening with all the classic ingredients of moments of great concern, on the financial markets: the escalation in Ukraine weighs with the recognition of the Donbass and the dispatch of troops by Moscow. Strong discounts on the squares of the old continent with Frankfurt which loses 2.5%, Paris 2.3%, London l’1,2%. Milano he did not escape the situation and the Ftse Mib lost 2.5%, with sales concentrated on the banking sector (Unicredit above all, the most exposed in Russia) and on Tim. Even the indices that anticipate the trend of Wall Streetclosed yesterday for holidays, they are aiming low as the price of Treasuries rises and therefore their yield falls, which falls below 1.9%.

Already in the morning there was the thud of the Asian stock exchanges with the index of the area which reached the minimum of the month: the MSCI Asia Pacific marks the worst day of February, down 2.1%, dragged down by the squares of Hong Kong and mainland China. After losing 2% at the start of the session, the Nikkei index of the Tokyo Stock Exchange closed at -1.7%, Hong Kong meanwhile falls by 2.9% e Shanghai 0.9%.

The geopolitical tension has strong repercussions on the raw materials and energy sector, given the role of Russia in the global supply chessboard. Oil, nickel and aluminum all rallied as analysts count on what it would mean to impose tough sanctions on Moscow that would hold back these global trading chains. In fact, the surge in prices does not stop Petroleum: Brent rose to $ 99 a barrel, while WTI rose 3.16% to $ 93.95. Even the price of the gas flies to Europe: the Dutch TTF contract is trading at 78.25 euros per megawatt hour, up by 7.8% compared to the last session.

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“The main market impact of the recent tensions in Ukraine which will turn into a real war will lead to the prices of raw materials – they recalled yesterday afternoon. Alberto Gallo and Gabriele Foà of Algebris in a note – The worst-case scenario would force the US and Europe to impose heavy sanctions on Russia, further squeezing the supply of raw materials. The ultimate impact would be a further spike in the price of natural gas and oil. In the US and Europe, a further 20% price increase could add around 1 percentage point to inflation. Energy inflation would hurt consumer expectations and spending, especially in Europe “since” since they don’t import anything from Russia, the United States is likely not to be very affected. “

On the currency front, theeuro loses ground on the greenback. The single currency returns below 1.13 dollars and is trading at 1.1293 dollars and 129.54 yen. Down dollar / yen to 114.68. Start of the day on the rise for the spread between BTPs and German Bunds which, after the first few bars, scores 171.9 points compared to 170 at yesterday’s closing. However, the yield of the Italian ten-year bond falls to 1.88%.

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