Milan However, it was the worst among the major stock exchanges in Europe with a final drop of 4%, influenced by groups like Unicredit (-13%) instead in the Russian market, with Piazza Affari burning 30 billion of capital.
Old Continent and Russia – List prices in Frankfurt recorded a decrease of 3.9% and in Paris and London by 3.8%. Bad day, with a “loss” of 331 billion euros from the ancient continent’s first 600 titles. It was much worse for the Moscow Stock Exchange, which collapsed by more than 30%. And it was a panic day for Russian and Ukrainian government bonds: 10-year Moscow bonds grew by more than 400 points to 15.2%, while Kiev bonds jumped by as much as 778 basis points. A final average of 22.1. %. Too bad also for the ruble, which lost more than 5% against the euro and about 7% against the dollar.
Gas, oil and gold – However, what matters most to Europe is the strong current of natural gas purchases. The price of methane, after larger intraday spikes, ended up jumping 51% to 134 euros per megawatt-hour, even if it stayed a long way from the record 166 reached just before Christmas. Much less robust was the rally in oil, which at the end of the session in New York rose about 4% at $96 a barrel, while European Brent crude remained above $100. And gold, which tried during the day, is calmer. Moderate increases, before returning to nearly $1,930 an ounce. Corn (+3%) and wheat prices, up about 5%, did not show dramatic increases on the global lists.
European Central Bank decisions The conflict in Ukraine may delay the European Central Bank’s exit from monetary stimulus programmes. Austrian Bank Governor Robert Holzmann, a member of the European Central Bank’s board of directors, and the other member, Isabel Schnabel, both speculated, explaining that the uncertainty over the Russian invasion required a piecemeal, data-driven approach. Thus, the spread between 10-year BTPs and German bonds closed sharply at 164 points, with a yield on the Treasury product at 1.81%.
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