Stock Exchange: the new variant of the virus scares the markets, down the oil – Economy

Stock Exchange: the new variant of the virus scares the markets, down the oil – Economy
Stock Exchange: the new variant of the virus scares the markets, down the oil – Economy

Black Friday for the markets with the new variant of the coronavirus that scares investors. Fears about the effects on the economic recovery have triggered a wave of pessimism on all the main equity markets but it is also involving commodities with oil in decline.

After the sharp decline in Asian markets, the stoxx 600 area index in Europe dropped 3.1%.

In red, Paris (-3.4%), Frankfurt (-3.1%), Madrid (-3.2%), London (-2.9%).

The Milan Stock Exchange (-3.1%) continues to heavily, in line with the other price lists of the Old Continent. Fear has been unleashed on the markets for the new variant of the coronavirus identified in Africa and the effects on the economic recovery. In this scenario, the spread between BTP and Bund rises to 129 basis points, compared to 125 at the start of the session. The yield of the Italian ten-year declined to 0.99%. In Piazza Affari, banks suffer with Unicredit (-5.4%), Banco Bpm (-4.5%), Intesa (-4%), Bper (-3.4%) and Mps (-0.7%) . Equities linked to oil are also heavy with the price of crude oil falling. Sales on Eni (-4.6%), Tenaris (-4.8%) and Saipem (-4.1%). On the black Friday of the markets, Ariston’s debut was down (-3.6%). The car sector was also bad with Stellantis and Cnh (-3.5%). Luxury also slipped with Moncler (-2.7%), Cucinelli (-2.2%), Ferragamo (-3.1%) and Tod’s (-4.3%). In contrast to the price list, there is Tim (+ 1%) at 0.49 euros, on the day of the board of directors after the proposal advances from the American fund Kkr at 0.50 euros. Savings shares were flat (-0.02%) at € 0.46. In Piazza Affari toned Diasorin (+ 6.3%).

The drop in energy weighs heavily on the price lists (-5.5%), with oil suffering a new sharp decline and in fact returning to the levels of last July, eliminating the autumn rally.
In Texas, the WTI fell to 74.56 dollars, to then settle around 75.03 dollars (-4.26%). Brent also fell, leaving over 3.8% on the field at 79 dollars a barrel. The price of gas is down. In Amsterdam the price drops by 2.5% to 90.87 euros per Mwh. On the commodities front, gold rose at 1,804 dollars an ounce.
In the Old Continent also banks (-4.5%) and cars (-4%) are down. On the currency side, the euro against the dollar continues to rise slightly to 1.1273 in London.

Source

Stock Exchange variant virus scares markets oil Economy

NEXT Here’s what it is