The Limited Times

Stock market: oil drags Europe along and weakens bonds

4/3/2023, 4:10:16 PM


European stock markets rise cautiously after OPEC+'s decision to cut oil production by one million barrels, with the run of energy stocks (+3.9% the sector's Stoxx index) decisive in orienting the lists. (HANDLE)

(ANSA) - MILAN, 03 APR - European stock markets rise cautiously after OPEC+'s decision to cut oil production by one million barrels, with the race in energy stocks (+3.9% the Stoxx sector index) decisive in orienting the lists.


    London rose by 0.5%, Milan by 0.3%, Paris by 0.2% while Frankfurt was unchanged.

WallStreet futures were mixed, with those on the Nasdaq and Dow Jones down slightly and those on the S&P 500 up 0.2%.


    The rush of oil - which rounds up to 5.3%, with WTI at 79.7 dollars a barrel and Brent at 84.1 dollars - weighs on government bonds, which fear the effects on inflation from the increase in the price of raw.

Eurozone bonds rise by an average of 5-6 basis points, with the black-shirted Italian BTP (+7 points to 4.16%) and the spread with the Bund opening slightly to 181 basis points.


    In Piazza Affari, Saipem (+5.1%), Tenaris (+4.6%) and Eni (+4.2%) stand out.

Galp (+5.4%), BP (+4.2%) and Shell (+3.7%) fly to Europe.

(HANDLE).