May 23, 2022

Wire Service Canada

Complete Canadian News World

Ukraine: Milan is up, Moscow is flying. The price of oil is rising – the world

Milan Stock Exchange opens sharply, after yesterday’s uproar as a result of the Russian invasion of Ukraine. The first Ftse Mib index rose 1.03% to 25,136 points.

The Moscow Stock Exchange flies at the beginning of the session, After yesterday’s fuss with the invasion of Ukraine. The Micex Index advanced 9.87% to 2,261 points. On the currency front, the ruble rose against the dollar and the euro, after today’s collapse. At the current exchange rate of one dollar, it takes 83.66 rubles, after hitting its lowest level yesterday at 89.60. Against the euro, the Russian currency is trading at 93.50, after yesterday hitting an all-time low of 101.03.

European stock exchanges start the session sharply higherAfter the collapse on the eve of the Russian invasion of Ukraine. Investors are assessing the sanctions decided by the international community against Russia, which are considered to be less strong than expected. The session started on positive ground for Frankfurt (+1.27%), Paris (+0.78%), London (+1.02%) and Madrid (+0.54%)

Investors focus their attention On the impact of sanctions on Russia. The spotlight also focused on raw materials with gas and oil prices. The old continent main menu futures contracts are positive while US futures prices are falling.

The Ukraine crisis continues to drive oil prices showing a new upward trend, albeit less robust than last night’s turmoil. West Texas Intermediate crude gains 1.92% It rises again around $95 a barrel to $94.54. Brent crude also rose, trading at $101.15 a barrel (+2.09%). Yesterday, the price of North Sea oil reached a record price of $105.79 per barrel since August 2014; WTI in Texas hit $100.

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start negotiations Down for gas in Europe, after the jump on the eve of that with fears of the impact of Russia’s invasion of Ukraine and the sanctions of the international community in Moscow. In Amsterdam, prices fell 16.6% to 112 euros per megawatt-hour, compared to 134 euros at yesterday’s close.

The Wheat prices jumped to their highest levels since 2008 on the Chicago Stock Exchange In the aftermath of the crisis in Ukraine. According to data reported by Bloomberg, the futures contract rose to $9.60 a bushel and then fell slightly again.

The Asian stock exchanges closed sharply higher After the collapse on the eve of the Russian attack on Ukraine. Investors assess the impact of global conflict and international community sanctions on Russia. Tokyo closed sharply higher (+1.95%). In the foreign exchange market, the yen continues to revalue against the dollar at 115.20, and is little changed against the euro at 129.20. As negotiations continue, Shanghai (+0.61%), Shenzhen (+1.26%), Seoul (+1.06%) and Mumbai (+2.62%) are on the rise. In contrast, Hong Kong (-0.59%). The lists are backed by the performance of the technology sector. On the macroeconomic front, data on business and consumer confidence in Italy and the Eurozone is on the way. Final GDP for the fourth quarter is expected from Germany and France. Inflation and consumption figures are also expected from France. From the US, durable goods orders, consumption data and consumer confidence.

The Central Bank of China (PBOC) made the largest weekly injection of liquidity since January 2020 to keep liquidity in the markets at an appropriate level also in light of the month-end maturities. Today’s intervention was 300 billion yuan ($47.41 billion) in the form of a 7-day reverse repurchase, compared to 10 billion on the due date, a note said. For the whole week, the net cash injected amounted to 760 billion yuan (about 120 billion dollars).

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