The Stock Exchanges of today 21 July. Weak prices, markets fear a new Fed tightening
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MILAN – Weak start for European stock exchanges. The resilience of the US labor market has cast a shadow on the possible next moves of the Fed, with fears that the monetary tightening could continue beyond expectations, with investors who today agree on the possibility that the next increase of 25 points could be the last.
The Asian stock exchanges closed the session in a contrasting way with inflation in Japan which marks a slight increase. In Tokyo, the NIkkei closed down -0.57%.
European stock markets open weak and mixed
European stock exchanges open weak and mixed, after the mixed closure of Wall Street, where the Nasdaq lost 2% yesterday due to the sharp declines of Netflix and Tesla.
Looking to corporate results and ahead of next week’s US and European central bank meetings, traders are being cautious. Thus, just a few minutes after the start of trading, the Dax index of Frankfurt lost 0.54% to 16,116.15 points while the FTSE index of London gained 0.16% to 7,658.14 points. The Cac of Paris scores +0.13% to 7,394.66 points, the Ibex of Madrid +0.21% to 7,394.66 points. Just above parity Milan.
The heat pushes gas prices
The price of gas opens higher with operators assessing the impact of the heat and the increase in energy consumption to power refrigeration systems. The trend of liquefied natural gas flows and the evolution of the war in Ukraine are also in the spotlight.
In Amsterdam, prices rose by 1.4% to 28.4 euros per megawatt hour.
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