Petroleum and ruble return to scare the financial markets. European stocks had tried to rebound after strong sales last week (in which the Milan Stock sold 7.4%). In the morning the FTSE MIB has gone up to earn 1%. In the afternoon, however, the new fall in prices of oil and the ruble have brought investors to tune in a climate of risk aversion.
Yesterday Piazza Affari ended in negative (-2, 81%), as well as the stock exchanges in London (-1.8%), Paris (-2.5%), and Frankfurt (-2.7%). The sectors with greatest losses were the energy and banking: decline due to the choice of the Minister of Energy of the United Arab Emirates to defend the OPEC decision not to reduce oil production.
Taken from Il Sole 24 Ore, Tuesday, December 16, 2014 p.5
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