MILANO – Oil prices hold positions after the eve’s gains, when the Opec + crude oil cartel has, surprisingly, postponed the decision on increasing production for the next few months. The expectation was for an increase of 400,000 barrels per day from August to the end of the year, but it ran aground on the opposition of the Arab Emirates, which contest the method of calculating quotas. For the moment it is only a postponement to today, but according to observers a lack of agreement would be a very significant event. First for the cartel itself, as he points out Bloomberg, which would remain crystallized in the previous position which expects not to touch production until next April; Moreover, it would again suffer a blow to credibility, which it is trying to recover after the recent internal disagreements between Saudi Arabia and Russia (which is outside the OPEC core). The consequences would then be important on a global level: without an increase in production it is probable that crude oil will continue to strengthen in price, with the consequent inflationary repercussions. For now, prices remain above $ 75 after the postponement of the OPEC + decision: the WTI changes hands at $ 75.18 per barrel (75.23 last night in New York); Brent is at $ 75.74 a barrel.
European equity markets are starting slightly, waiting for the data on employment in the USA. According to Unicredit’s expectations, payrolls should have accelerated to 750,000 new jobs from 559,000 in May while the unemployment rate should drop by only 0.1 points to 5.7%, also due to an increase in market participation. of work. Milano it marks a 0.2% gain in start-up, with the headlights on Mediobanca after Del Vecchio’s (new) rise in the share capital now at 19 per cent.
Yesterday, Wall Street set yet another record: the S&P 500 index closed at a new high for the sixth consecutive session, climbing by 22.44 points (+ 0.52%), to 4,319.94 points. The Nasdaq recorded a rise of 18.42 points (+ 0.13%), to 14,522.38 points; the Dow industrial average advanced by 131.02 points (+ 0.38%), to 34,633.53 points. Numbers that have had their positive impact on Tokyo Stock Exchange with the Nikkei recovering 0.27%, breaking a streak of four negative sessions. On the other hand, the day was negative Chinese bags after President Xi Jinping declared that China’s rebirth is an “irreversible historical process”, during a speech at the celebrations of the centenary of the founding of the Communist Party. “The Chinese people stood up. The time when the Chinese people could be trampled, where they suffered and were oppressed is gone forever!” Said Xi. While the session is still in progress, Hong Kong (-1.8%), Shanghai (-1.7%), Shenzhen (-1.5%) and Mumbai (-0.1%) are down.
It spread between ten-year BTPs and German Bund counterparts, it opens at 100 points, in line with yesterday’s closing. The yield on Italian bonds fell to 0.8%. For the Treasury, he calculated the Sole 24 Ore, the emissions of this first half of the year have reached even more advantageous conditions than in 2020 with an estimated saving in the order of one billion per year.
Start of the day without significant changes for the prices oforo: the bar with immediate delivery changes hands at 1,777 dollars an ounce.
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