War has broken out in Ukraine and the consequences are already being felt in all markets worldwide.
In its opening, the Spanish stock market has collapsed and, although minutes later it has slightly reduced its fall, the IBEX 35 has lost 3.06% after the attack ordered by Vladimir Putin.
In the IBEX 35, IAG is the value that falls the most, 4.35%, followed by Banco Santander, with 4.02%, and BBVA, with 3.82%. Only two IBEX stocks are trading higher: Indra, up 3.94%, and Almirall, up 1.37%. Telefónica is the value that falls the least within the selective, 0.51% after presenting today some good results for the year 2021.
Right now the price of cereals in Spain is suspended pending clarification of the situation. However, the international reference wheat is setting a historical record above 300 euros per ton. Never before has the price skyrocketed so much.
the european bags
All European stock markets have fallen sharply at their opening. Frankfurt leaves 3.84%, Paris 3.59%, London 2.70% and Milan 1.99%. The Euro Stoxx 50, which brings together the European companies with the largest capitalization, fell 2.88%.
In addition, the markets of Southeast Asia have closed their sessions with losses. The biggest decline was recorded by Singapore, which although it began the session with profits, it left 3.45% -its biggest loss in ten months-, after plummeting with the announcement of the president of Russia, Vladimir Putin, on the start of a “military operation” in eastern Ukraine.
In the Moscow stock market there has been a temporary stoppage prompted by the announcement of the start of Putin’s military operation. This morning, the Russian MOEX stock index suspended all trading on the floor until further notice. In its resumption, the values that have fallen the most are Rosneft (58.5%, EN+ (58.3%) and Sberbank (57%).
Due to military tensions between Russia and Ukraine in recent weeks, the MOEX index lost 52.13% in the last month and 55.37% in the last year. The Russian Central Bank has announced that it will take additional measures to stabilize the financial market after the 10% fall in the ruble, the national currency, after the announcement about the Russian military operation in eastern Ukraine. “The Bank of Russia will ensure financial stability and uninterrupted continuity of operations of financial organizations,” the Russian entity said.
The price of Brent barrel futures contracts, of reference for Europe, has shot up 6.5%, thus reaching 103.15 dollars, its highest level recorded since August 2014. Meanwhile, the price of the West Texas Intermediate (WTI) barrel has risen 6.17%, reaching 97.78 dollars. Like its European counterpart, the price of a barrel has reached its highest level since August 2014.
The impact of the worsening of the crisis between Russia and Ukraine has also been felt in the price of natural gas futures markets, which has shot up 20.78%, to its highest since the end of December last year. Thus, the natural gas futures that are traded on the Dutch platform TTF have reached 107.36 euros per megawatt hour (MWh), compared to just over 87 euros where it settled on Wednesday.
Source: Lasexta
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
