Giuseppe Sandro Mela.
«European stock markets slumped on Wednesday morning amid inflation fears as US crude oil hit a seven-year high»
«A barrel of US crude touched $79.40, while Brent crude hit a three-year high of $83 per barrel»
«Meanwhile, German industrial orders tumbled 7.7% in August»
«Car and car part manufacturers were the worst hit, with orders down 12% on the previous month»
* * * * * * *
Lagarde e von der Leyen sono troppo prese ad organizzare il COP26 per curarsi di codesti transitori sommovimenti.
In attesa che sorge il radioso sole dell’avvenire nel 2050, ad oggi saranno i Cittadini Contribuenti a pagare il conto, tutti contenti di poter contribuire al risanamento ecologico della Europa.
* * * * * * *
European stock markets slumped on Wednesday morning amid inflation fears as US crude oil hit a seven-year high.
In London, the FTSE 100 (^FTSE) fell more than 1.2% after opening, trading below the key 7,000 points mark, while the French CAC (^FCHI) tumbled more than 1.3% and the DAX (^GDAXI) was also almost 1.3% lower in Germany.
It came as US crude reached its highest level since 2014, extending its recent rally due to tight supplies, rising demand, and soaring gas prices. European natural gas climbed to fresh highs yet again on Wednesday.
A barrel of US crude touched $79.40, while Brent crude (BZ=F) hit a three-year high of $83 per barrel.
“I think rallying crude oil are driving stagflation concerns for a large part – especially for emerging market economies who are also net oil importers. India and China to name a couple,” Fawad Razaqzada, market analyst at Think Markets, said.
“Even in the more advanced economies, rising crude oil prices have raised fuel prices, directly impacting consumers’ disposable incomes.
“The other factors are driven by other energy prices – most notably gas, but also surging electricity prices – as well as supply-chain bottlenecks – the latter raising both inflation and hurting economic growth.”
Meanwhile, German industrial orders tumbled 7.7% in August, as supply bottlenecks and shortages hit factories.
Europe’s largest economy suffered during the month after two months of strong gains. The figures came in much worse than the 2.1% fall which analysts expected.
Car and car part manufacturers were the worst hit, with orders down 12% on the previous month.
Asian stocks moved mostly lower overnight on the back of higher energy prices and inflation concerns.
In Tokyo, the Nikkei (^N225) fell more than 1%, extending losses for an eighth consecutive session, while the Hang Seng (^HSI) dipped 0.4%. The Shanghai Composite (000001.SS) is closed until Friday due to a holiday.