Upward start for Oil exchanges at 21-year low
2020-04-22T07:47:26.233Z
European stocks came from a thump yesterday, -3 and a half percent for the Milan Ftse Mib. Today upward opening: Milan marks + 1.40%, London and Frankfurt + 1%, Paris + 0.40%. Stock developments are still affected by the collapse of oil. In recent days, the price of the May futures on American crude oil, WTI, had gone below zero, down to -37 dollars a barrel. A dynamic generated by a steady world demand, by overflowing deposits and by the cut in production decided by OPEC and Russia deemed insufficient by investors. The negative price, however, had been strongly influenced by financial dynamics, starting from the postponement of the US Oil Fund investments from the futures of May to those of June. However, even the June future, the one closest to the real oil values, shows a very low price: $ 10.70 per barrel for American WTI (-7%) and $ 16.8 for the North Sea Brent (- 13%), on the lowest values for 21 years. In early January, the price was over $ 65 a barrel. During the night, Asian stock exchanges performed differently. The initial drop was marked, then mitigated by rising American index futures. The Nikkei 225 index in Tokyo fell by 0.80%, the Hong Kong, Shanghai and Seoul indices slightly positive. Oil remains at very low prices. The June futures, less influenced by financial dynamics than in May, show an American crude oil, the WTI, at 10 and a half dollars a barrel. The North Sea Brent is at $ 16.5. Today the BTP / Bund spread is under observation: yesterday it rose by 24 basis points, to 268, 60 more than eight days ago. At the start it is slightly down, at 264 points. In the background are the European Council of tomorrow and Friday Standard & Poor's opinion on the Italian debt. In Piazza Affari, the technological (+ 3.8%) and banking (+ 1.68%) sectors performed well, while the industrial sector (+ 0.90%) was less brilliant. The oil sector also rose after yesterday's sharp drop: + 1.20%. Among the individual stocks, the highest increases for StMicroelectronics and Finecobank (+ 4%). Above + 2% also UnipolSai, Diasorin, Mediobanca, Azimut, Exor, Snam. Greater reductions for Salvatore Ferragamo (-2.37%) and Moncler (-0.88%). 09.20 am
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by Fabrizio Patti 22 April 2020European stock exchanges came from a thump yesterday, -3 and a half percent for the Milan Ftse Mib. Today upward opening: Milan marks + 1.40%, London and Frankfurt + 1%, Paris + 0.40%. Stock developments are still affected by the collapse of oil. In recent days, the price of the May futures on American crude oil, WTI, had gone below zero, down to -37 dollars a barrel. A dynamic generated by a steady world demand, by overflowing deposits and by the cut in production decided by OPEC and Russia deemed insufficient by investors. The negative price, however, had been strongly influenced by financial dynamics, starting from the postponement of the US Oil Fund investments from the futures of May to those of June. However, even the June future, the one closest to the real oil values, shows a very low price: $ 10.70 per barrel for American WTI (-7%) and $ 16.8 for the North Sea Brent (- 13%), on the lowest values for 21 years. In early January, the price was over $ 65 a barrel. During the night, Asian stock exchanges performed differently. The initial drop was marked, then mitigated by rising American index futures. The Nikkei 225 index in Tokyo fell by 0.80%, the Hong Kong, Shanghai and Seoul indices slightly positive. Oil remains at very low prices. The June futures, less influenced by financial dynamics than in May, show an American crude oil, the WTI, at 10 and a half dollars a barrel. The North Sea Brent is at $ 16.5. Today the BTP / Bund spread is under observation: yesterday it rose by 24 basis points, to 268, 60 more than eight days ago. At the start it is slightly down, at 264 points. In the background are the European Council of tomorrow and Friday Standard & Poor's opinion on the Italian debt. In Piazza Affari, the technological (+ 3.8%) and banking (+ 1.68%) sectors performed well, while the industrial sector (+ 0.90%) was less brilliant. The oil sector also rose after yesterday's sharp drop: + 1.20%. Among the individual stocks, the highest increases for StMicroelectronics and Finecobank (+ 4%). Above + 2% also UnipolSai, Diasorin, Mediobanca, Azimut, Exor, Snam. Greater reductions for Salvatore Ferragamo (-2.37%) and Moncler (-0.88%). 09.20 am
