MILANO – European stock exchanges closed down, weakened by fears about the spread of the variante Omicron and on the possible repercussions on the economies of the countries. The United States yesterday confirmed the first case in the country. On the markets, however, there are also those who take positive elements from the diffusion of the new variant. This is the case with the analysts of JpMorgan Marko Kolanovic and Bram Kaplan, according to which the fact that Omicron is currently more transmissible but less lethal can be interpreted as a signal of evolution of the virus towards less serious forms. The virus would thus be destined to become more similar to seasonal forms of flu and the end of the pandemic could be closer.
In Europe, the price lists confirmed their negative value at the end of the session and the Eurostoxx50 basket dropped by 1.7%. Milano yields 1.39% at the end, London marks -0.55%, Frankfurt gives l’1.36% and Paris 1.25%. Instead, change your mood to Wall Street which turns sharply higher after yesterday’s thud following the first case in the United States of the Omicron variant. In detail, the Dow Jones gained 1.63% to 34,576 points and the S&P 500 advanced by 1.24% to 4,569. The Nasdaq is more cautious, rising 0.56% to 15,339 points. The decline of Apple weighs on the technological list, which drops 1.84% after that Bloomberg reported slowing demand for the iPhone 13: a case that is also affecting St.
Closing in no particular order for the Asian stock exchanges, which, like the other markets, are affected by fears due to the spread of the Omicron variant of Covid. The United States yesterday confirmed the first case of the new variant, upsetting the world financial markets, already anxious about its potential impact on the recovery. There Tokyo Stock Exchange closed down 0.65% at 27,753.37 points, Shanghai filed a 0.09% to 3,573.84 points while Hong Kong it rose by 0.55% to 23,788.93 points. Very good Alone which gains 1.57% at 2,945.27.
Spotlight on Petroleum today with the meeting of the Opec + countries. The cartel has decided not to touch the production increase plan, after the events of the last few weeks. On the one hand, in fact, the US and other large economies have freed up reserves to lower prices. And then there was the uncertainty about the resumption of the new Covid variant, which brought down the prices of crude oil. Opec + has decided that despite everything it will continue with the current policy of increasing supply: this is 400,000 barrels a day every month, reducing the record cuts agreed in 2020 when demand collapsed due to Covid. The agreement reached today is to stick to the increase of 400,000 barrels per day also in January. The news sent crude oil prices down, but only at first. With the resumption of optimism on Wall Street, in fact, the WTI rose and at the close of the European stock exchanges it changed hands at 66.8 dollars (+ 1.9%) and Brent at a step of 70 dollars (+1, 6%).
On the foreign exchange front, theeuro closed weak in the 1.1310 dollar zone. However, the single European currency advances against the yen at around 127.90. The greenback also gains ground against the Japanese currency above 113. The story of the Turkish lira with the news of yet another round of seats at the top of the financial figures: the president Recep Tayyip Erdogan has appointed a new treasury minister and finance, after the resignation of Lutfi Elvan, while the value of the Turkish lira fell to an all-time low. Erdogan has appointed Deputy Minister Nureddin Nebati to lead the dicastery, according to an announcement published in the Official Gazette. According to what was reported in the Gazzetta, Elvan asked to be “exonerated from office” and the request was granted. His resignation comes as the Turkish lira it is plunging to all-time lows on concerns over the government’s economic policy, following a series of loan cost cuts despite rising inflation. The Turkish currency has lost around 40% of its value since the beginning of the year.
Closing down for it spread between ten-year BTPs and German Bund counterparts. The differential ended the session at 132 points, against 135 on Wednesday. The yield on Italian bonds returns below 1%, to 0.952%.
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