Brent rose above $ 130 a barrel
The conflict in Ukraine over the financial markets is rapidly turning into one sort of energy warwith the USA and Russia ready to play the oil and natural gas card respectively to hit the opponent. THE European lists, which deflated at the endremained in suspense until the end of the session pending the speech of the US president Joe Biden which announced the import ban on Russian oil and natural gas.
Moscow in turn threatens to respond to European sanctions by cutting gas supplywhile the giant Shell has already announced that it will stop stocking up on Russian raw materials and also the UK will phase out crude imports by the end of the year.
The warm front thus remains that of raw materials, with the Brent above $ 130 a barrel and gas – volatile as never before – traded towards the end of the session at 211 euros per megawatt hour (-7%) after yesterday’s record at 345 euros and gold now steadily above $ 2,000 an ounce. Waiting for news from Washington, the Stock exchanges from the Old Continent throughout the session attempted a strong rebound from the diplomatic opening of the Ukrainian president Zelensky to a compromise on Crimea and Donbass and indiscretions related to a Eurobond to the study of EU countries to finance energy expenditure and thus stem the fallout of the conflict.
The enthusiasm then faded after the words of the vice president of the EU Commission, Frans Timmersmann, who explained how “in the Commission there is no plan in this regard”, while Brussels for its part presented the plan REPowerEU with the aim of reducing dependence on Russian gas by two thirds within the year.
Now investors await the next key date (Thursday) when the Russian and Ukrainian foreign ministers should meet in Turkey. In this tense climate, the Ftse Mib index gained 1.4% at the end of the session (after having risen even double) thanks to the tear of Saipem (+ 13.2%), the rebound of Tim (+5, 9%) struggling with the Kkr offer and the expected redemption of the bankers, from UniCredit (+ 6.1%) to Bper (+ 5.4%).
At the bottom of the list Amplifon (-4.7%), Diasorin (-4.1%) and other more defensive stocks. On the currency front, the euro remains under pressure, trading at 1.0887 dollars (from 1.0856 yesterday at the close) and at 125.91 yen (125.55). Dollar-yen at 115.69. Finally, the oil rally continues with WTI in April worth $ 127.2 per barrel (+ 6.6%) and Brent in May at $ 131.6 (+ 6.8 per cent).
A brilliant session also for the insurance company Unipol, which gained 6.8% at the end of the day, together with Banco Bpm (+ 5.1%) and Poste Italiane (+ 4.6%). Among the oil companies also Tenaris (+ 3.2%), Enel among energy (+ 2.9%) and the holding Exor (+ 2.9%) did well. Reverse sales on Interpump (-4.1%), Recordati (-3.6%) and Ferrari (-3.1%). In the spotlight throughout the session, as mentioned, Tim after the indiscretions that would see a part of the board, an expression of the independent directors, intending not to close the Kkr proposal, provided that it still proves valid.
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