In Europe, the German stock markets lead the markets with a rise of 2.7%, followed by the Euro Stoxx 50 (2%), the Italian stock market (1.6%) and the IBEX 35 (1.4%). Dim hopes of progress in Ukraine-Russia peace talks buoyed European stocks and Wall Street stock futures on Monday, despite China’s stocks falling sharply on new infection restrictions. of COVID-19.
On Sunday, a round of Russian missiles hit a major Ukrainian base near the Polish border, but both sides offered their most optimistic stance on ceasefire talks since the start of the war. A Russian envoy said there could be drafts of a deal soon, according to media reports. “If the fighting stops, it will be a step in the right direction as it will remove more negative consequences,” Mizuho senior economist Colin Asher said.
However, “for equity markets, the downward path is the path of least resistance, at least in the short term,” due to the scenario of geopolitical conflicts and expectations of interest rate hikes by the major central banks. But the initial signs were enough to lift sentiment in equities, boosting a pan-European stock index 0.7%, while German stocks jumped more than 2%.
The mood was more subdued in Asia. Tokyo’s Nikkei rose 0.6%, but an MSCI index of Asia-Pacific shares outside of Japan was dragged down 2% on heavy losses from China. The Chinese stocks plunged 4% after a surge in coronavirus cases prompted the southern Chinese city of Shenzhen to tighten restrictions.
Petroleum
the barrel of Petroleum Crude oil was quoted today with low values in the international markets of New York and London.
West Texas Intermediate (WTI) crude oil, which operates on the New York futures market (Nymex), fell 4.83% this morning and was trading at US$104.05 a barrel in contracts with delivery in April.
Similarly, Brent oil from the North Sea, which does so on the London electronic market (ICE), fell 3.85% and the barrel was agreed at US$108.33 but in the contracts for May, according to with what was reported by the Bloomberg agency.
Meanwhile, the Organization of Petroleum Exporting Countries (OPEC) reported that its crude oil basket closed last Friday at US$113.29 a barrel, compared to US$117.23 the previous day, which represented a drop of 3.36%.
Source: Ambito
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