At + 1.3% the European markets with ‘energy’ boost

European stocks closed higher on Friday, pushing the Stoxx 600 into positive territory for 5 days in a week of sharp fluctuations, as investors continue to evaluate the central banks’ plans for inflation and developments in Ukraine.

The United States and Europe have also announced new sanctions against Moscow following alleged atrocities committed by Russian forces in Ukrainian cities. The deadliest Russian blow came today in Kramatorsk at a train station used to evacuate trapped civilians from Lugansk, with a tragic death toll of 50.

Meanwhile, the US Congress voted to revoke Russia’s trade regime and ban oil and gas imports, along with ending all new investment in the country.

Members of the Group of Seven (G7) condemned the atrocities of Russian troops, while in a historic vote, the UN expelled Russia from the Human Rights Council at a time when NATO leaders are considering new arms shipments to Ukraine.

The EU It also sanctioned sanctions against Russia and said that war crimes perpetrators in Ukraine would be held accountable. The Union has announced that it is now banning the purchase, import or transport of coal and other solid fossil fuels, as well as banning access to European ports on Russian-flagged ships. The European Parliament has called for additional sanctions, including an “immediate and complete ban on Russian imports of oil, coal, nuclear fuel and natural gas”.

At the same time, investors are awaiting the tightening of monetary policy on both sides of the Atlantic by the European Central Bank and the US Federal Reserve in the shadow of the decades-long inflation rally.

With the rally in energy and food prices continuing to fuel inflation, the ECB is expected to complete bond purchases in July to make its first rate hike in more than 10 years in December, analysts say. .

For its part, the Fed does not rule out a further increase in interest rates by 50 basis points in the coming months, while at the same time it will shrink its balance sheet by $ 95 billion a month.

In this climate, the pan-European Stoxx 600 strengthened by 1.31% to 460.97 points after two consecutive negative sessions. The shares of oil and gas led the gains with an increase of 3.2%. In the week The index closed with gains of 0.5%, boosted by shares of the health sector.

In the individual dashboard, the German DAX gained 1.46%, to 14,283.67 points, the French CAC 40 rose 1.34% to 6,548.22 points, while the British FTSE 100 strengthened by 1.56% to 7,669.56 points.

In the periphery, the Italian FTSE MIB recorded a “jump” of 2.13% to 24,819.15 points, while the Spanish IBEX 35 gained 1.64% to 8,606.40 points.

In the individual sharesthe German digital sales company Scout24 jumped by 14% after a publication about a possible takeover bid.

At the bottom of the Stoxx 600, Malta-based online gambling company Kindred Group plunged more than 13% in the wake of the announcement that its revenue fell by 30% in the first quarter of 2022.

Source: Capital

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