Market Updates
European Markets Fall 1%, Ural Oil Drops Below $60 Cap
Bridgette Randall
22 Dec, 2022
Frankfurt
European markets accelerated declines after rapid rate hike worries resurfaced.
Benchmark indexes opened higher on China optimism and after state controlled media reported a series of government initiatives in speeding up construction projects and accelerating spending in new equipment and systems.
Major indexes turned lower after the U.S. revised third quarter economic growth to 3.2% annual rate from the previous estimate of 2.6% according to the U.S. Bureau of Economic Analysis Thursday.
The sharp upward revision to the economic growth raised the fears of the Fed continuing its campaign of lifting rates and keeping the higher rates longer.
Rate sensitive stocks led the decliners in the region following sharp losses in New York trading.
The DAX index dropped 1.3% to 13,914.07, the CAC-40 index declined 1% to 6,517.97 and the FTSE index dropped 0.4% to 7,469.28.
Ural Oil Drops Below Price Cap $60 Level
Russian benchmark oil dropped below $55 a barrel and lower than the price cap imposed by the G7 member nations, the European Union and Australia since December 5.
The Russian oil price dropped to the level last seen in January 2021 and is trading at more than $24 a barrel discount to Brent crude oil price.
Russian oil flows to China, India and Turkey have also dried up in the recent months according to the data available from Turkey maritime authorities.
The price for immediate month delivery of Brent crude fell $1.36 to $80.83 a barrel and Dutch TTF natural gas dropped 4% to
Annual Returns
| Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|
Earnings
| Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|