La Jornada – Bags collapse due to invasion of Ukraine; losses up to 6%

Paris. World stock markets fell sharply again this Friday due to fears caused by the war in Ukraine, aggravated by the bombing of the largest atomic power plant in Europe.

Paris closed down 4.97 percent, Frankfurt lost 4.41 and Milan -6.24.

The losses were somewhat lower in the London and Madrid markets, with decreases of 3.48 percent and 3.63, respectively.

The New York Stock Exchange opened lower, despite a strong US employment report for February. At 5:10 p.m., the Dow Jones Industrial Average was down 0.83 percent after midday and the Nasdaq 1.54 percent.

In Asia, Tokyo ended down 2.23 percent, Hong Kong 2.54 and Shanghai 0.96.

Ukrainian President Volodymir Zelensky accused Moscow of resorting to “nuclear terror” after the fire caused by a Russian attack on the Zaporizhia nuclear power plant, the largest in Europe, which caused a fire but without an increase in radiation levels.

There is “no desire” to take risks in financial markets, said Ipek Ozkardeskaya, an analyst at Swissquote bank. Investors are mostly trying to protect themselves from losses, he says.

The safest investments, used as refuge values ​​by operators in times of uncertainty, remained at high levels: an ounce of gold was worth 1,953 dollars (+0.88 percent).

New rise raw material prices

Oil prices rose again but remained below their high the day before.

A WTI barrel for April delivery was trading at $113.36 by 15:20 GMT, up 5.24 percent.

London North Sea Brent rose 4.72 percent to $115.67 by the same time, after hovering around $120 on Thursday.

The war in Ukraine sent the price of natural gas skyrocketing to a new all-time high.

Fears of export disruptions from Russia, which supplies 40 percent of gas imports on the continent, caused the European market benchmark, the Dutch TTF, to hit a new record of 213,895 euros per megawatt-hour (Mwh). ).

Nickel, a mineral that Russia produces in large quantities, exceeded 30,000 dollars per ton, a price not reached since 2008.

In another sign of weakness in Europe, the euro fell below the symbolic threshold of $1.10, a level not seen since the early months of the covid-19 pandemic. The depreciation was 1.44 percent, to 1.0908 dollars per euro.

Bitcoin gave up a small part of its gains for the week (-3.39 percent), at $40,680.

On the other hand, shares of Telecom Italia plunged again on the Milan Stock Exchange, down more than 15 percent, due to concerns about poor results in 2021 and the gloomy outlook for 2022.

In Frankfurt, Uniper, which participated in the construction of the Nord Stream 2 gas pipeline, fell 11.39 percent. Banks, including Deutsche Bank (-7.12 percent) and the automobile sector, such as Volkswagen (-5.96), were also affected.

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