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Analysts say that investors in Europe are being led by concerns that problems with natural gas supplies from Russia could have a negative impact on the economy. The mood was not improved by the European Commission’s proposal published on Wednesday for all EU member states to set mandatory gas saving targets in case supplies fall to crisis levels.
Meanwhile, across the ocean, optimism continued to reign among investors, fueled by good corporate earnings.
On Wednesday, the Dow Jones Industrial Average rose 0.2% to 31,874.84 points, the Standard & Poor’s 500 index rose 0.6% to 3,959.9 points and the index “Nasdaq Composite” increased by 1.6% to 11,897.65 points.
London’s FTSE 100 fell 0.4% to 7,267.97 on Wednesday, Frankfurt’s DAX 30 fell 0.2% to 13,281.98 points, while the Paris Stock Exchange’s CAC 40 index fell 0.3% to 6.84.66 points.
In electronic trading on the New York Stock Exchange, the price of WTI crude oil fell 1.5% to $102.61 a barrel on Wednesday. “Brent” crude oil price on the London exchange fell by 0.6% to 106.69 dollars per barrel.
The euro was down from $1.0226 to $1.0175 per euro on Wednesday, the British pound was down from $1.2002 to $1.1975 per pound, and the dollar was up against the Japanese yen from 138.21 to 138.26 yen per dollar. The euro fell against the British pound from 85.19 pence to 84.96 pence per euro.
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