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This article was published on 15 January 2016 at 09:18.
The last change is the January 15, 2016 at 19:25.
Bags and oil do not give truce. The new crash this morning Asian markets (with a decline of over 3% for the Shanghai and Shenzhen) and the price of oil is reflected in the sentiment of European stock exchanges, which store another seat and another week in heavy red. Which were depressed also forget that Wall Street so the rebound yesterday.
Sales to the New York Stock Exchange continues to expand so as to bring the S & amp; P 500 at the low end of last August, when financial markets were hit by fears of a slowdown worse than the estimates of China. In mid sitting indexes extend losses with the Nasdaq that gives 4.10% and the Dow Jones 3.11%. Down sharply even the S & amp; P 500 -3.26%. In the US, industrial production in December fell by 0.4%, worse than expected. Producer prices fell by 0.2% in. Net voice food and energy, prices rose 0.1%. The figure ‘in line with analysts’ expectations.
Among the worst is the Milan Stock Exchange with the FTSE MIB, penalized by energy and banking and with widespread declines in all sectors, which closes dive: -3.07 percent to 19,195 points. Congelatedagli exchanges in the day Exor, Mps and Finmeccanica. Previously they had gone into a volatility auction also Fca and Bper. Heavy with the other banks and Ubi Banca Mps. The big bad: UniCredit sells 2.9% and Intesa 2 percent.
Negative well as other European markets. It is frustrated after a few minutes trying to bounce Fca that had opened in positive after good data on car registrations in Europe and as a technical session following the sharp falls yesterday of the entire sector after the Volkswagen scandal, he joined the the French Renault, under investigation by the French authorities for emissions. The title has started to fall sharply and closed down 3.2 percent.
The euro travels under $ 1.09. While the bond market, the spread BTP-Bund remained stable slightly above the threshold of 100 basis points.
Even pressure on the crude oil and after a slow start to the day with a minus accelerates still downward with Brent back again below 30 dollars a barrel. In detail, the contracts on Brent March delivery mark $ 29.5 per barrel with a drop of 4.4%, while those on the WTI come to give even 6% to $ 29.28 per barrel. Behind yet another slip there is the imminent end of international sanctions on Iran, which should be announced at the weekend: the first consequence will be the increase in exports of Iranian crude oil, which will be issued on a world market already plagued by an excess of supply.
To weight the picture on the crude is likely to re-entry of Iran into the market with an end to sanctions. The prospect of the 3 million barrels a day promised by Tehran is increasingly taking hold in the markets, with oil prices returning to fall to new lows than a decade, ending again to below $ 30. The barrel of Brent, the benchmark crude from the North Sea, gives $ 1.36 reaching a total of $ 29.52. In New York, West Texas Intermediate drops $ 1.73 to $ 29.47. Values that represent the minimum respectively from the beginning of 2004 and the end of 2003.
For many months, the black gold is influenced by the context oversupply that, between what economists consider the end of a “Supercycle” of raw materials, and the related slowdown in many emerging economies, has seen prices lose more than 70 percent from their peaks of mid 2014. At this time you add the seasonal recovery of stocks, which in the United States tend to increase in the first four months of the year. However this time takes place in a context in which it was already near saturation of the reserves. In practice, we risk a situation where you do not know where to store the oil problem that is evidenced nell’accentuamento of “contango”. It is the phenomenon whereby an individual item with a futures contract, it costs more later with the passing of months, usually when the opposite should happen. WTI which costs $ 29.47 in the first deadline for delivery in January 2017 requires more than $ 37. And this is largely a reflection of the growing cost of storage.
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