Weak start on this last trading day of the week for European stock exchanges. Milan slightly positive at + 0.14%; Paris is on the same level, while Frankfurt stops just below par. Meanwhile, the Chinese stock exchanges reopen after a week of hiatus for the October national holiday. And they start again with the plus sign, pulling the other Asian markets up as well. Not so much, analysts underline, because worries about the Chinese economy have passed, between the crisis in the real estate sector and difficulties in energy supplies, but for technical reasons. After weeks of sharp drops, in fact, the shares of large Chinese companies have very low prices, lower than the real value of the companies, and this pushes many operators to return to purchases waiting for the rebound.On the commodity markets, the price of oil is rising again, with Brent oil reaching 83 dollars a barrel this morning after the slight slowdown in mid-week. Effect of the choice of many companies not to fuel their production processes with methane, which has become too expensive, and to switch to petroleum products. But above all, the announcement by the US Department of Energy that it has no intention, for the moment, of making use of strategic crude oil reserves to bring prices down.and to switch to petroleum products. But above all, the announcement by the US Department of Energy that it has no intention, for the moment, of making use of strategic crude oil reserves to bring prices down.and to switch to petroleum products. But above all, the announcement by the US Department of Energy that it has no intention, for the moment, of making use of strategic crude oil reserves to bring prices down.
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by Chiara Rancati
08 October 2021
Weak start on this last trading day of the week for the European stock exchanges.
Milan slightly positive at + 0.14%;
Paris is on the same level, while Frankfurt stops just below par.
Meanwhile, the Chinese stock exchanges reopen after a week of hiatus for the October national holiday. And they start again with the plus sign, pulling the other Asian markets up as well. Not so much, analysts underline, because worries about the Chinese economy have passed, between the crisis in the real estate sector and difficulties in energy supplies, but for technical reasons. After weeks of sharp drops, in fact, the shares of large Chinese companies have very low prices, lower than the real value of the companies, and this pushes many operators to return to purchases waiting for the rebound.
On the commodity markets, the price of oil is rising again, with Brent oil reaching 83 dollars a barrel this morning after the slight slowdown in mid-week.
Effect of the choice of many companies to stop fueling their production processes with methane, which has become too expensive, and to switch to petroleum products.
But above all, the announcement by the US Department of Energy that it has no intention, for the moment, of making use of strategic crude oil reserves to bring prices down.
