Stock markets in the red, gas prices are collapsing

A decidedly negative session for European stock markets, weighed down by China's economic performance (with GDP at its lowest level in three decades) and by the uncertainties surrounding the next cut in European interest rates. The ECB's number one, Christine Lagarde, believes a split next summer is possible, but not all members of the ECB Executive Board agree.

Milan falls below 30,000 points – for the first time since the beginning of December – losing 1.23%. London is the heaviest at -1.80%, followed by Paris at -1.35%, while Frankfurt loses just over a point.

The opening of Wall Street does not help the markets: the Nasdaq immediately loses 0.94% and the Dow Jones a quarter point.

Despite strong tensions on the Red Sea, the price of oil is falling today. Brent costs $76.5 per barrel and WTI costs $70.6.

The price of natural gas in Amsterdam also falls sharply to 27.8 euros per megawatt hour (-6%), practically at the level of October 2021. Operators are considering storage that is above the average of other years. Also in focus are the cold wave in Europe and the geopolitical tensions in the Middle East, especially in Yemen.

Since the beginning of the year, the price has recorded a total decline of 13 percent.

Leave a Reply

Your email address will not be published. Required fields are marked *