Europe is in the red, weak hump after the plan
The sharp slowdown that Wall Street blamed yesterday puts to the test the European stock markets’ early year rally. Concerns about the slowdown in the global economy and the tightening of monetary policy by central banks suggest caution to investors who sell above all stocks that recorded the highest prices in the last period. Piazza Affari, which yesterday consolidated its pre-war highs in Ukraine and closed above 26,000 points for the first time since February 21 of last year, lost 0.4%. Frankfurt fell by 0.42%, Paris by 0.47% and Amsterdam by 0.44%. Among Milan’s major stocks, Eni lost 1.16% after JP Morgan analysts downgraded the stock’s recommendation to “neutral” from a previous overweight. The hump slips by 1% after the introduction of the new plan through 2026.
In the currency market, the euro is worth $1.0819 from $1.0817 at yesterday’s close. The single currency is also indicated at 138.79 yen (up from 139.07), while the dollar/yen ratio is 128.29 (128.58). Oil is falling in anticipation of the release of US inventory data: Brent crude futures for March are down 0.56%, to $84.5 a barrel, while the same contract on WTI is losing 0.79%, to $79.17. The price of natural gas in Amsterdam rose 4.6% to 64.6 euros per MWh.
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