Bag 5 June | Contrasted Europe, oil companies are running – Corriere.it
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Contrasted start to the session for the European stock exchanges. While awaiting Christine Lagarde’s testimony to the Economic and Monetary Affairs Committee of the European Parliament, oil stocks end up in the spotlight, after the cuts decided by OPEC+ for 2024. At the start, Paris recorded a +0.33% with the Cac 40 at odds 7,294 points. Frankfurt scores +0.18% with the Dax at 16,079 points. London at +0.35% with the Ftse 100 at 7,633 points. In Piazza Affari, after the first positive prices, the Ftse Mib index marks a -0.14% to 27,031 points (lists in real time). The spread between Btp and Bund rises to 175 points after starting at 169 (the trend of the spreads). The yield on the Italian 10-year bond also rose to 4.11%.
Business Square
As far as stocks are concerned, in Piazza Affari it is precisely the oil companies that immediately take the top of the Ftse Mib (Saipem +1.9%, Tenaris +1.54%, Eni +1%), while Moncler (-1 .37%) and utilities (Hera -1%, Italgas -0.45%, A2a -0.44%). In the spotlight Pirelli (-0.59%), after the press rumors circulated over the weekend, according to which the Italian management would be at risk due to interference by the Chinese shareholder Sinochem and the Government would evaluate recourse to the Golden Power.
Tokyo at its highest since 1990
Closing at the highest since spring 1990 for the Tokyo Stock Exchange, with the Nikkei index ending today’s trading session at +2.20% at 32,217.43 points, also in the wake of last week’s closing of the US Stock Exchanges , growing rapidly. The high of the day for Tokyo identical to the closing, while the low was 31,978.72 points. Among the other squares, Seoul gains 0.56% and Sydney 1%.
Oil on the rise
The price of oil rises again in New York after the new cuts decided by OPEC+ for 2024. WTI oil from Texas recorded a 5% increase before falling by +1.1% to 72.55 dollars per barrel. North Sea Brent rose to 76.9 dollars +1.01%. At the TTF market in Amsterdam, the price of gas rose slightly compared to Friday’s quotation. In fact, the quotation is 24.39 euros, with an increase of about 3%.
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