Oil Prices Rise, European Stocks Fall

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Econolodgestocktonca.com – European stock exchanges compacted down with the US futures index this afternoon, Monday (1/20), as investors await the release of a series of corporate financial performance reports.

Based on a reliable media, the S&P 500 futures index and the Stoxx Europe 600 index both fell 0.1 percent at 8:07 a.m London Time or 3:00 p.m Jakarta Time.

At the same time, the MSCI Asia Pacific index moved volatile and the MSCI emerging market index slipped 0.1 percent.

Reporting from a reliable source, the Stoxx Europe 600 index was dragged lower by media and utilities. While the US futures index was slightly corrected when US stock market trading activity was closed due to a holiday commemorating Martin Luther King Jr.

Meanwhile, although most stock indexes in Asia strengthened, some indexes experienced a decrease in trading volume due to holidays in the US.

On the other hand, the price of Brent crude oil jumped back above the level of US$ 65 per barrel in line with rising tensions in the Middle East and North Africa which caused production and exports from major OPEC producers, Iraq and Libya, to halt.

The oil market was again confronted by the sentiment of geopolitical uncertainty that threatened to disrupt global crude supplies.

In North Africa, prolonged conflict in Libya, where two rival factions claiming the right to rule the country for more than 5 years have caused two crude oil production bases in Libya to be closed by Khalifa HList’s forces.

Meanwhile, in Iraq, OPEC’s second-largest crude oil producer temporarily stopped production in one of its oil fields on Sunday (1/19) in line with widespread demonstrations.

Also Read: Analysts Remain Aware of Chinese Trade Direction

Despite the unrest in the oil market, traders began the week relatively calm. The signing of a US-China phase one trade agreement, following the release of economic indicators from China and the US last week, gave signs that the global outlook was improving.

Investors are now turning their attention back to corporate performance reports after solid results from a number of the biggest banks on Wall Street boosted sentiment.

A number of companies that will release their reports include Netflix, IBM, UBS, Procter & Gamble, and Hyundai.

The market will certainly also await the monetary policy decisions of the central banks in Japan, Canada, Indonesia and the European Central Bank (ECB).

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