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The gas slows down, crude oil always rallies.
(Il Sole 24 Ore Radiocor Plus) – Milan, 08 Mar – At the mid-day threshold, the European stock exchanges continue to rise well, albeit below the highs reached in the previous hours (Milan + 2.5%, Paris +1.1 %, Frankfurt + 0.8%, Madrid + 2.8% and London on par). While eyes continue to be on military updates coming from Ukraine, two main factors are supporting the markets, Ukrainian President Zelensky’s openness to a compromise on Crimea and Donbass and rumors of a “full-scale” Eurobond. which would be studied to finance energy and defense expenses and, therefore, to stem the fallout from the conflict. The European authorities are in fact working to develop a plan to be presented after the next Versailles summit scheduled for 10-11 March. Among other things, to cope with the energy emergency, the EU should publish today the Energy Compact, which contains a series of measures, ranging from gas to the development of green sources, with the aim of reducing as much as possible the dependence on Russia. This prospect is causing gas prices to drop (-9.7% to 205 dolars per megawatt hour on the European market, after yesterday’s record of 345 dolars), while the race towards safe-haven assets continues, with gold above 2,000. dollars an ounce. On the other hand, the price of nickel continues to rise, reaching a record of 101,365 dollars a ton, and above all of oil (Wti April futures + 2.3% to 122.16 dollars a barrel, the highest since 2008, and Brent in May +. 3% at $ 126.88), after Russian Deputy Prime Minister Alexander Novak threatened to cut off natural gas supplies through the Nord Stream 1 pipeline and warned of a possible flare-up in oil prices to $ 300 a day. barrel if Western countries introduced a ban on Russian energy exports.
As for the securities, Telecom takes off in Piazza Affari (+ 7.6%, after reaching + 10.8%), while there are hypotheses of maneuvers towards Kkr, and the banks are flying (Unicredit + 7.19%, Bper + 6.8%, Banco Bpm + 6.3% and Intesa Sanpaolo + 5%).
In general, all the sectors that had been particularly affected in previous sessions, such as cars, technology and industry, are recovering, while energy continues to run. On the Ftse Mib there are few stocks in decline, with those of the healthcare sector at the bottom (Diasorin -3.1%, Recordati -2%). On the currency, the single currency is trading at 1.089 dollars (1.0856 at the start and yesterday closing) and at 125.94 yen (from 125.3). Recovery for the Russian currency, with the dolar / ruble exchange rate at 149.18. Finally, the spread is down to 150 points, from 159 at the start and 160 yesterday.
(RADIOCOR) 08-03-22 13:06:07 (0331) NEWS, ENE 3 NNNN