In Europe, however, a quieter start
The financial week started with a positive reaction of Chinese markets to the easing of some anti-Covid restrictions in many cities in China. This led to a +4.3% rise in the Hong Kong index, with strong rises in stocks in all sectors, from tech (+9%) to tourism, from cars to Macau’s arcades. Shanghai (+1.76%) and Shenzhen (+0.92%) indices also rose.
In Europe, instead, a quieter start. In Milan +0.08% for the Ftse Mib index, after a start in slight decline. London was unchanged, the Paris index fell by 0.23% and Frankfurt by 0.38%. The Milan stock exchange last week (-0.39%) interrupted a series of rises that had lasted eight weeks.
Under observation was oil: +0.70%, with Brent at $86.2 per barrel. Over the weekend, Opec+ countries confirmed the path already mapped out of cutting global production by 2 million barrels per day. Today sees the start of the European Union embargo on Russian oil and the G7 countries’ common ceiling of USD 60 per barrel, again for Russian oil.
Gas rose: the January futures traded at 143.5 euros per megawatt hour (+5.8%), up from 135 on Friday. At the opening, the price had touched 148, the highest since 21 October.
At Piazza Affari, among the securities of the Ftse Mib, Saipem (+3.04%, oil sector) rose the most, followed by Moncler (+1.37%, luxury sector, sensitive to Chinese openings) and Telecom Italia (+1.34%). The largest declines were for Amplifon (-0.74%) and Pirelli (-0.68%).