Falling oil prices and ruble crisis make them very hot markets (AFP / File / Karen Bleier)
oil prices falling and the ruble crisis make them very febrile markets and passed Tuesday by the financial screens all shades from green to red.
Around 5:30 p.m. GMT, oil prices had recovered slightly slope, while remaining at very low levels. Brent fell by 2.44% to 59.67 dollars (it had dropped to 58.50 in mid-day) and WTI from 0.21% to 55.81 dollars (after getting off at 53.60 in the afternoon).
This rise, coupled with perceived as reassuring statements on the Russian front, had a multiplied effect on European stock who frantically accelerated in the last minutes of the session, also supported by European indicators rather positive.
In the end, the Paris Stock Exchange closed up 2.19%, the Frankfurt 2.46%, 2.41% London or Milan 3 ., 27%
In the US, the Dow Jones progressed from 0.87% Nasdaq 0.49% and the broader S & amp; P 0.84%
<. p> A sign of the great nervousness. trading volumes were very high, exceeding 7 billion euros on Euronext Paris
For a few hours earlier, it was a rout .dropoff window Stocks, bonds, foreign exchange, precious metals …. on every continent of the financial world, investors fled risk almost as fast as the ruble was slaughtered, yielding more than 20% in two days.
So, at the lowest of the day, the CAC 40 was just under 2%, and the actions of European groups vulnerable to Russian were being punished as Société Générale in Paris, Frankfurt and Adidas Heineken in Amsterdam.
In the late afternoon, statements perceived as reassuring from Moscow (ruble stabilization measures, no plan to limit capital movements) or the West (the Secretary of State American John Kerry saying that “Russia has made constructive progress in recent days” on the Ukrainian crisis), helped to calm investors, giving them an excuse to accelerate.
The market for sovereign debt Bond has also been affected by this nervousness. The 10-year rates of several emerging –Russie, Brazil, Mexico, Turkey … – increased as investors forsook them.
The trend was similar for fragile judged European countries (Greece, Portugal, Italy), while the demand was high for safe havens like the German bund, the French OAT or the US Treasury.
– From Jakarta to Istanbul –
This dithering is fueled by oil. Although he pointed nose Tuesday afternoon, he took a sharp downward trend and has sold nearly 50% since mid-June due to weak global demand and the inflexibility of the oil monarchies Gulf who keep the valve open, flooding the market, trying to maintain their control over other producing countries which have a cost higher per barrel.
If Russia is clearly the first victim, the other emerging countries did not come out unscathed. From Jakarta to Istanbul via Dubai, investors retreated
Scholarships Gulf oil producing countries have unscrewed. -7.3% In Dubai, -7.3% in Saudi Arabia -3.5% in Qatar.
In Turkey, where political tension is very strong, the book had a midday sudden bout of weakness and touched a record low before recovering .
The Indonesian rupiah had it reached its lowest level since Monday the Asian crisis of 1998 to 12,699 for a dollar. On Tuesday, the Central Bank intervened to stop the spiral and prevent overheating in the bond market, said a bank official, Perry Warjiyo, according to Bloomberg.
The tobacco out the Emerging is also fed by US monetary policy.
The Federal Reserve two-day meeting ends Wednesday of its Monetary Policy Committee and could send the market a signal possible rise in interest rates over early.
Such a decision, to accompany the US economic recovery, would be likely to result in capital flows away from emerging to be repatriated to the United States.
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