Stock exchanges in Europe. WSE – quotes. Significant declines in European indices and on WIG20. Gold, gas and oil are more expensive and the euro is weakening
Stock exchanges in Europe. WSE – quotes. Significant declines in European indices and on WIG20. Gold, gas and oil are more expensive and the euro is weakening
On Thursday, we are witnessing significant declines in European stock exchanges. At around 2 p.m., the WIG20 index in Warsaw was down about 10 percent, and the major indices in Germany and France also lost nearly 5 percent. In contrast, the Russian RTS fell by about 38 percent. On the other hand, crude oil and gold are much more expensive.
And local indicators recorded, Thursday, the largest drop since the beginning of the epidemic, i.e. mid-March 2020. After Russia’s attack on Ukraine, WIG20 at 9.10 am WIG20 fell by 8.2%, WIG lost 6%, sWIG80 fell by 6.6%, and mWIG40 decreased by 2.4 %. The declines on the Warsaw Stock Exchange deepened in the following trading hours. At about 2 p.m., WIG20 is down 9.55%, WIG is down 9.92%, sWIG80 is down 9.76%, and mWIG40 is down 11.15%.
Quotes from last month’s WIG20 index stooq.pl
Among the companies belonging to WIG20, LPP was the company that lost the most. Shares fell by 22.48 percent. A discount of twelve percent or so applies to CCC, Allegro and Mercator companies.
In connection with the open Russian attack on Ukraine, analysts expected very large falls on the Warsaw Stock Exchange. They noted that the 1,900 point defense level in WIG20 could become a challenge. At about two o’clock in the afternoon, the index was at the level of 1,829.29 points.
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It is located on the European stock exchanges
The German DAX and the French CAC40 are down more than 4 percent. In contrast, approximately 3 percent. Britain’s FTSE100 is losing, and Spain’s IBEX35 is close to 4 percent. under the dash. The leader of the decline is the Russian RTS, which is losing nearly 38 percent.
According to Marek Rogalsky, an analyst at BOŚ Brokerage House, Russia’s attack on Ukraine “not only opens a new chapter in modern history.” “It also promises a major change in financial markets – the dominant bull market in recent years may give way to a bear market. The Russians have included Western sanctions in their crazy project to revitalize the former Soviet Union. So we don’t expect that further economic restrictions will stop Putin quickly. May Russia will be unpredictable. In their actions this will create constant tension in the markets “- assessment of Rogalsky.
Kamel Sisovsky, director of the investment advisory and analytics team at DI Xelion, noted in the morning comment that “we should expect further increases in oil and gold prices, and perhaps also another strong drop in US Treasury yields.” – It is practically impossible to assess the possible effects of today’s events, but we have certainly crossed the point where the annexation of Crimea was an analogy – he added.
The Ukraine crisis is the main “latest” concern for investors who have long been concerned about the increasingly aggressive measures of central banks and the impact of rising inflation on economic growth. Stock markets take a serious hit, further military escalation in Ukraine is estimated. Norbert Frey, portfolio manager at Fuest Fugger Privatbank, said the sell-off would continue.
Falling contracts on Wall Street
Contracts for the S&P 500 fell 2.77 percent, for the Dow Jones Industrial Average by 2.59 percent and for the Nasdaq. by 3.44 percent.
The S&P 500 is entering a correction phase more and more, and the Nasdaq is hovering around the bear market.
Oil and gold become more expensive
Crude oil is more expensive. The price of a barrel of WTI crude oil is around $100 (up around 8%), and a barrel of Brent crude oil has to be paid above $100 (up around 7%).
The price of gold jumped to more than 1963 dollars an ounce. This is the highest level since November 2020.
Natural gas contracts are on the rise.
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