May 21, 2022

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Ukraine: Europe is accelerating upwards. Oil is flowing, gas is falling – the world

The Milan Stock Exchange is working, in line with other European price lists. The Ftse Mib Index rose 2.2% to 25,432 points. In Piazza Afari, the facilities with Enel (+4.7%), Terna (+4.6%), Italgas (+4.5%) were highlighted. Banks are on the rise. Spread between BTP and Bund drops to 160 pips, with Italian 10-year yield at 1.81%

European stock exchanges continue the session in good harmony on the path to the upside. The Stoxx 600 is accelerating 2%, with analysts estimating the impact of sanctions on Russia to be less than initial expectations. In particular, the operators’ ratings relate to the energy sector. Meanwhile, gas suffered a sharp contraction (-24%) in Europe and oil reversed course after the overnight jump. On the Old Continent, London (+2.1%), Paris (+1.7%), Frankfurt and Madrid (+1.6%) continue to be on positive ground. The decline in gas gave utility companies wings (+ 4.8%).

The price of oil continues to rise. West Texas Intermediate crude rose to $94.16 a barrel (+1.4%) and Brent crude to $100.86 (+1.8%). Among commodities, gold was down 3% to $1,911 an ounce. On the currency front, the Euro is down to 1.1186 in London.

The Moscow Stock Exchange indexes raise their heads Leap forward, after the collapse on the eve of the start of military operations in Ukraine and the announcement of sanctions by the international community. The benchmark Moex is up 14.44% after yesterday’s 33% drop. The RTS dollar index is up 25.38% after dropping 38% last night. On the currency front, the ruble is recovering against the dollar and the euro. The exchange rate between the dollar and the ruble fell to 83.05, after yesterday’s high, reaching 90. Trading between the euro and the ruble fell to 93.02, after yesterday’s high of 101.03.
European stock exchanges start the session sharply higherAfter the collapse on the eve of the Russian invasion of Ukraine. Investors are assessing the sanctions decided by the international community against Russia, which are considered to be less strong than expected. The spotlight also focused on raw materials with gas and oil prices.

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The Ukraine crisis continues to drive oil prices showing a new upward trend, albeit less robust than last night’s turmoil. West Texas Intermediate crude gains 1.92% It rises again around $95 a barrel to $94.54. Brent crude also rose, trading at $101.15 a barrel (+2.09%). Yesterday, the price of North Sea oil reached a record price of $105.79 per barrel since August 2014; WTI in Texas hit $100.

start negotiations Down for gas in Europe, after the jump on the eve of that with fears of the impact of Russia’s invasion of Ukraine and the sanctions of the international community in Moscow. In Amsterdam, prices fell 16.6% to 112 euros per megawatt-hour, compared to 134 euros at yesterday’s close.

The Wheat prices jumped to their highest levels since 2008 on the Chicago Stock Exchange In the aftermath of the crisis in Ukraine. According to data reported by Bloomberg, the futures contract rose to $9.60 a bushel and then fell slightly again.

The Asian stock exchanges closed sharply higher After the collapse on the eve of the Russian attack on Ukraine. Investors are assessing the impact of the conflict globally and the international community’s sanctions on Russia. Tokyo closed sharply higher (+1.95%). In the foreign exchange market, the yen continues to revalue against the dollar at 115.20, and is little changed against the euro at 129.20. As negotiations continue, Shanghai (+0.61%), Shenzhen (+1.26%), Seoul (+1.06%) and Mumbai (+2.62%) are on the rise. In contrast, Hong Kong (-0.59%). The lists are backed by the performance of the technology sector. On the macroeconomic front, data on business and consumer confidence from Italy and the Eurozone is on the way. Final GDP for the fourth quarter is expected from Germany and France. Inflation and consumption figures are also expected from France. From the US, durable goods orders, consumption data and consumer confidence.

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The Central Bank of China (PBOC) achieved the largest weekly liquidity injection since January 2020 to keep liquidity in the markets at an appropriate level in light of the month-end maturities. Today’s intervention was 300 billion yuan ($47.41 billion) in the form of a 7-day reverse repurchase, compared to 10 billion on the due date, a note said. For the whole week, the net cash injected amounted to 760 billion yuan (about 120 billion dollars).