The markets fly with the Opec agreement to cut oil production – The Republic

the MILAN - 14:45. The price lists of european treat in the sharp rise even if the oil price retrace below the level of 47 dollars (for the Wti) after the leap seen yesterday in the wake of the Opec agreement to cut production quotas. An agreement that does not leave operators in no doubt.

Milan swap in progress dell’1%, with the titles of the energy industry, such as Saipem and Eni in the big sweep. Well also the other european stock Exchanges: Frankfurt add 0.45 per cent, London rises of 0.9%, while Paris adds 0.8%. Crude oil Wti is traded to 46.9 us dollars per barrel, slightly down from yesterday evening when he was jumped by 6%. Brent North sea flexes in the 48,45 usd. That arrived from Algiers, where they met the producers, it was a decision all in all unexpected: already since the last G20 the chinese had arrived for a rapprochement between the great powers (Russia and Saudi Arabia, in that case), but analysts – haunted by the many “did nothing” of the recent past – they did not believe that the agreement arrived already during these hours. A cut agreed at the time of production, on the other hand, was missing since 2008.

The growth of the petroleum in conjunction with the news coming in from Algiers

Already in the morning the effects of the announcement of the Opec have made the fly the index Nikkei of the Tokyo Stock exchange, which closed in the rise of’1,39%, reversing a first part of the session in the negative. Gains between 7 and 10% were recorded by titles such as Inpex and Japan Petroleum Exploration. Strong growth In the shares of Tepco, the utility of the Fukushima nuclear plant, after the news that Hitachi, Toshiba and Mitsubishi Heavy are in an advanced stage of negotiations to merge their activities in the nuclear sector. In general, stresses, Bloomberg, were obviously the actions of the energy sector to the rise in the index Msci Asia Pacific. “The energy sector will be the leading advocate in the rally stock that we expect after the announcement of the Opec,” explained the agency Uses the strategist Tony Farnham of Patersons Securities in Sydney, who then warned: “what we have so far is a statement of intent, but I would like to see something more concrete: they must follow this plan, but it’s still something.”

READ more. The Opec agreement could be worth $ 10 per barrel. Risk increases at the pump

The Treasury auction of Ccteu and Btps was completed with the placement total $ 8.5 billion of Btp in 5 and 10 years, and Arrears to 7 years, with rates on the rise. In detail, were placed 4 billion of Btp 5 years, with a yield to +0,28%, up 10 points. The demand, amounting to 5.2 billion, is found to 1,30 times the offer. Placed 2.5 billion of the Btp to 10 years with a rate of 1,21%, up 7 points. The demand, amounting to 3.6 billion, was as high as 1.43 times the offer. Finally sold 2 billion of Arrears to 7 years with a yield of 0.33% (the anointed one more than the previous auction). Trends little moved on the face of the bond: the yield of the Btp to 10 years is stable at 1.18% and the spreads with the German Bund was unchanged at 131 points.

From Germany come in from the data on unemployment (stable at 6,1% in September), while the economic institutes to improve the estimate of Gdp by 2016 from the +1,6 +1,9%. The German inflation reported a growth of 0.1% monthly in September, up +0.7% per annum. In Europe, the index of economic confidence improves in September from 103,5 to 104,9 points, the consumer registers a small ascent to -8,2 points. In Usa toward the end of the positive trend of the economy, rose in the second quarter of 1.4% (according to the revisiione final) after +0.8% in the first period of the year and against expectations for a rise to 1.3%. An indication that planerà on the table of the Fed, faced with the choice of raising rates by the end of the year. The best of the estimates that also the initial requirements of unemployment benefits, which fell by 3 thousand units in the last week surveyed. In Japan, in the morning, the retail sales recorded in August a decline of 1.1% compared to July. L’euro: is the recovery on the dollar in the area 1,222, while against the yen is close to quota 114.

positive Close yesterday for Wall Street - to the Opec agreement acquired – with the Dow Jones index up 0.6% to 18.337 points, the Nasdaq gained 0.24% to 5.318 and the S&P 500 has finished the trade in the rise of 0.53%. Also the price of thegold is in the growth of the asian markets: the metal with immediate delivery, salt 0.3%, to 1325 dollars per ounce, hand in hand with the weakening of the us currency, influenced in turn by the Opec agreement on oil production.