Vibrations from Wall Street to Shanghai and Moscow yesterday provoked an invasion of Russian troops in Ukrainewith small and large stock indices recording losses and investors returning to safe havens for government bonds and gold.
Gold regained its luster once again, rising 0.52% to $ 1,919.14 an ounce. At the same time, the ten-year US government bonds rose with their yields falling by 4.8 basis points to 1.846%, while those of the bunds, the ten-year bonds of Germany, fell to the lowest level since March 2020.
The world’s strongest currency, the dollar, strengthened by more than 1% against major currencies, while the euro fell 1.8% against the dollar to $ 1.1106, hitting its lowest level since 2020. It also fell. , at the lowest levels of the last seven years against the Swiss franc.
Speaking to Bloomberg, Valentin Marinov, head of currency strategy at Credit Agricole SA, described the single currency’s decline, saying “investors believe the escalation of the crisis will exacerbate the risk of stagnant inflation threatening the EU and the Eurozone.” postpones the normalization of its monetary policy “.
Meanwhile, as European leaders meet to decide on sanctions against Russia, the pan-European index Eurostoxx 600 closed with a loss of 3.28% as well as the smaller pan-European Eurostoxx 50 which closed with a loss of 3.63%. All major European stock markets closed with a corresponding fall, with the FTSE 100 index in London closing with losses of 3.88% as well as the CAC 40 in Paris and the Xetra DAX in Frankfurt with losses of 3.96%.
The shocks of course reached the markets of Asia with the index Nikkei to fall by 1.8% and Hong Hang Seng to record the biggest losses recorded in a meeting in the last five months, closing with a fall of 3.2%.
The shocks, however, were tectonic in its stock market Moscow with the MOEX index initially in a free fall of 45%, which it later limited to close with a fall of 33%. Shares of Russian banks fell the most amid rumors that they could be excluded from the international Swift payment system, with Russia’s largest bank, Sberbank, falling 43%.
The same drop was recorded by the energy Rosneft, 19.75% of which belongs to BP, while the gas giant behind the controversial Nord Stream 2 pipeline, Gazprom, recorded losses of 35%.
The ruble finally fell 8% against the dollar and at night it was around 88 rubles to one dollar, while earlier its exchange rate had fallen to 89.60 rubles per dollar
kathimerini.gr
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