Tensions in China help weigh down European markets: Ftse Mib -0.86%. London -0.1%, Frankfurt -0.74%, Paris -0.60%.
Markets are affected by protests against the excesses of anti-Covid restrictions in China. Reflections have been negative on the area’s stock exchanges. Hong Kong’s had opened down -4 percent, then closed down -1.57 percent. The Hang Seng index in November had seen especially in the first week a strong recovery, on expectations of an easing of lockdowns. The tally for the month is still +17%, since the beginning of the year the decline is 26%. The Milan stock exchange, by comparison, is down only 10% since the beginning of the year.
These tensions in China also help weigh down European markets: for Milan’s Ftse Mib -0.86%. Other European stock markets also fall, even more slightly: London -0.1%, Frankfurt -0.74%, Paris -0.60%. In the United States -0.48% for the Dow Jones index, -0.35% for the Nasdaq of technology stocks.
Among the effects of fears over a Chinese slowdown is the drop in oil: Brent is trading at $82 a barrel. Two weeks ago it was at $96. Also down today is gas, with the December futures trading at 117 euros per megawatt hour, down 5 percent from Friday.
At Piazza Affari major rises for Leonardo (+2.27%) and Iveco Group (+0.88%), major declines for Tenaris (3.15%), Saipem (2.55%) and Eni (-1.86%), all three in the energy sector.