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Saturday, December 03, 2022

Doubts in stock markets due to recovery of Euro and fall of Brent

Doubts in stock markets due to recovery of Euro and fall of Brent

After yesterday’s mishaps, Bag Investors remain skeptical of a crucial week for the European Central Bank (ECB) under pressure from the energy crisis and uncontrollable inflation. Equity futures are expected to decline marginally, while the euro, which lost 99 cents barrier on the dollar yesterday, rebounded and Brent oil registered a marginal decline.

ibex 35 Yesterday it dropped to the level of 7,900, but managed to hold the 7,800 mark in the old continent affected by the decline in activity in the services sector. Selective fell 2% and touched year’s low. But as the session progressed, the losses narrowed.

On today’s agenda, stands out the monographic debate in the Senate between the President of the Government, Socialist Pedro Sánchez, and the leader of the PP, Alberto Nez Feiju, on the energy crisis and the economic context. In addition, the Council of Ministers will approve the domestic workers’ strike this Tuesday.

For its part, Russia has announced that the pumping of gas through the Nord Stream gas pipeline, which connects Russia to Germany under the Baltic Sea, will resume when the turbines are under “contractual work” by Siemens Energy. Repairs will be made, which must be done, said Russian Energy Minister Nikolai Shulginov. The Kremlin and Gazprom have emphasized that it is the restrictions that are causing problems at the compressor station, as there are no spare parts if the turbine fails and repairmen cannot return to Russia due to Western sanctions. Huh. In this sense, Moscow has insisted that the gas pipeline will continue to have problems under these circumstances and, given what happened with turbine repairs in Canada, the affected engine can no longer be repaired if the restrictions are not lifted. Huh.

Yesterday, OPEC+ decided to cut daily output by 100,000 barrels from October, with the price per barrel of brent oil It rose 4% and was close to $97. Today, it has dropped by more than half a percent to $95 a barrel.

for his part, euro, which dropped below 99 cents a day before losing parity with the dollar, a level unknown for 20 years, today the ground is recovering. It is up 0.25% to 0.9952 cents.

The Reserve Bank of Australia (RBA) on Tuesday raised interest rates by 0.5% – from 1.85 per cent to 2.35 per cent – in the fifth consecutive hike since May, to curb high inflation affecting the maritime country. happened.

Wall Street returned to activity today after being closed for the holiday (Labor Day) yesterday. Futures on the New York Stock Exchange are expected to rise moderately after losses on Friday.

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