Stock Exchange: the new virus variant scares markets, down oil

MILAN, 26 NOV – Black Friday for the markets with the new variant of the coronavirus that scares investors. The fears about the effects on the economic recovery have triggered a wave of pessimism on all the main stock markets but it is also involving commodities with oil in decline. After the sharp decline in Asian markets, the stoxx 600 area index in Europe dropped 3.1%. In red, Paris (-3.4%), Frankfurt (-3.1%), Madrid (-3.2%), London (-2.9%) and Milan (-3.7%). The drop in energy weighs on the lists (-5.5%), with oil suffering a new sharp decline and in fact returning to the levels of last July, eliminating the autumn rally. In Texas, the WTI fell to 74.56 dollars, to then settle around 75.03 dollars (-4.26%). Brent also fell, leaving over 3.8% on the field at 79 dollars a barrel. The price of gas is down. In Amsterdam the price drops by 2.5% to 90.87 euros per Mwh. On the commodities front, gold rose at 1,804 dollars an ounce. In the Old Continent also banks (-4.5%) and cars (-4%) are down. On the currency side, the euro against the dollar continues to rise slightly to 1.1273 in London. (HANDLE).


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