Europa is drowning in the Red Sea. The rise in oil prices and the decline of the euro against the dollar – markets in one minute

Europe is optimistic about the start of the session. Shell is wasting energy in anticipation of margin losses

Europe was full of optimism and started the session in the green, after it ended Wednesday’s session in the negative. This week has been particularly volatile, as investors look for clues about the future of tight monetary policies by central banks.

Stoxx 600 added 0.39% to 400.45 points. Of the 20 sectors that make up the indicator, energy controls losses. European stocks in this sector were affected by the bad news from Shell.

Shares of the London-listed oil company fell 3.93% after the company this Thursday forecast a refining margin of $28 per barrel in the second quarter to $15 per barrel between July and September. On the other hand, travel, leisure and retail earnings lead.

In the remaining European markets, Madrid gained 0.33%, Frankfurt 0.52% and Paris 0.31%. Amsterdam is up 0.34% while London is up on the waterline (0.07%). Milan changes direction and loses 0.29%. Here, PSI follows the trend and is growing by 0.29%.

Among the major market moves, Credit Suisse rose 3.2% after JPMorgan Chase revised its “hold” recommendation higher. In contrast, Imperial Brands is growing by 4.3%, after announcing a share buyback program of up to £1 billion (about €1.14 billion at current exchange rates).

The European stock market is seeing a particularly volatile start to the fourth quarter, as investors assess central banks’ monetary policies and a slowdown in macroeconomic data, while short sellers pull back after boosting their bets on listed securities on the old continent. .

The banking sector – most sensitive to changes in interest rates – and technology, which consists mostly of growth stocks more sensitive to changes in monetary policy, will be the sectors most followed by the market during the session, as the European Central Bank publishes its latest reports. Monetary policy meeting, in which direct interest rates were raised by 75 basis points, as never before.