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Stock market: Europe down, Fed pending, banks and oil down

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(ANSA) – MILAN, NOVEMBER 03 – The main European stock exchanges are down on the day in which the Fed meeting is expected, with analysts looking at news on tapering, or restrictions on the aid policy implemented with the pandemic, while fears of a spike in inflation seem to be easing. Meanwhile, the price of oil on the markets has fallen sharply, the day after the US president, Joe Biden, asked OPEC + to increase production to calm prices, after the pressures already put in place by the US at the G20. WTI crude from Texas lost 1.6% to 82.5 dollars a barrel, while Brent from the North Sea lost 1.3% to 83.5 dollars. The price of gas in Europe is rising again, with prices in Amsterdam marking almost + 8% to 73 euros per MWh, with the Kremlin announcing an increase in supplies from 8 November the day before. Gold fell (-0.6%) to $ 1,781 an ounce. In Europe, the worst is Madrid (-0.6%), followed by London (-0.3%), Paris (-0.1%) and Frankfurt (-0.09%).

The area index of the Old Continent, Stoxx 600, is almost flat (-0.01%). Heavy energy and utilities. Among the oil companies, the worst is Bp (-2%), despite the results of the quarter, and Total (-1.9%), with positive exceptions such as Neste (+ 1.9%). Edp (-4.3%) and Orsted (-2.7%) were worse off utilities. Almost all banks are negative, starting with Banco Bilbao (-1.3%) and Abn Amro (-1.1%).

The materials sector is up, especially with Antofagasta (+ 3.1% and Kghm (+ 2.7%). In IT, increases, especially for TeamViewer (+ 10.5%) and Nemetschek (+ 3.3%) In no particular order the cars, with Ferrari in rally (+ 4.8%) and drops like those of Volkswagen (-2.1%). (ANSA).

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Source From: Ansa

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