- Posted by Marina
Tuesday (10) seems to be a recovery between commodities in international markets. After yesterday's widespread panic, soybean futures rose between 9 and 10.75 points in the main contracts traded on the Chicago Stock Exchange, followed by corn and wheat, around 7:50 am (Brasília time).
Oil, which gave up more than 20% in the previous trading day, was up more than 9% in New York and more than 8% on the London Stock Exchange. Natural gas, silver and copper are also rising, as well as sugar, coffee and cotton on the New York Stock Exchange. In the same way, gold worked in red, also in the opposite direction of the previous session.
Markets are recovering from what experts say was the worst financial day since 2008, the year of the last global financial crisis. And this resumption comes, according to analysts and market consultants, given the expectations of coordinated measures for a more effective control of the coronavirus epidemic, seeking to avoid a recession in the world economy.
Donald Trump's statements about also bringing consistent measures to contain the outbreak were well received by investors and are other information that contribute to the resumption observed on Tuesday.
Oil price rises 10% with hope of stimulus after collapsing the day before
LONDON (Reuters) - Oil prices rose on Tuesday, reaching as much as 10%, a day after registering the biggest drop in almost 30 years, with investors looking at possible economic stimuli and signs from Russia that talks with OPEC remain possible.
US President Donald Trump said on Monday that he will take important steps to protect the U.S. economy from the impacts of the spread of coronavirus, while the Japanese government plans to spend more than $ 4 billion on a second package of actions to deal with with the virus.
Brent crude rose $ 2.99, or 8.7%, to $ 37.35 a barrel at 8:28 am (GMT). United States oil advanced $ 2.78, or 8.93%, to $ 33.91 a barrel.
Earlier, Brent touched the session high of $ 37.75 a barrel, while WTI reached $ 34.42, both with gains of more than 10%.
Both benchmark contracts had dropped 25% on Monday, to the lowest levels since February 2016, the biggest daily percentage drop since 17 January 1991, when prices fell with the start of the Gulf War.
The downfall came after the Organization of the Petroleum Exporting Countries (OPEC) and Russia failed on Friday in talks for a production reduction deal, leading to a price war for market share.
But Russian Energy Minister Alexander Novak said he did not rule out joint measures with OPEC to stabilize the market and added that the next meeting of the OPEC + alliance is planned for between May and June.
Saudi energy minister Prince Abdulaziz bin Salman, however, told Reuters that he sees no need for an OPEC + meeting in May or June if there is no agreement on steps to be taken to offset the impact of coronavirus on demand and the prices.
(By Ahmad Ghaddar)
European stocks recoup some losses as oil prices rise
(Reuters) - European stocks were recovering part of their brutal losses from the previous session on Tuesday, with gains in oil prices and expectations of further stimulus easing some of the anxiety surrounding the global economic impact of the coronavirus outbreak.
At 8:03 am (Brasília time), the FTSEEurofirst 300 index rose 4.16%, to 1,379 points, while the pan-European STOXX 600 index gained 3.99%, to 353 points, but was far from compensating for the fall of 7% recorded on Monday that took the index to bearish territory - a drop of more than 20% compared to recent highs.
Europe's oil index was up 3.6% as oil prices advanced about 5% after the biggest daily drop in nearly 30 years, which caused extreme volatility in global financial markets. [O / R]
The recovery was gaining momentum as investors pinned their hopes on coordinated actions by governments and central banks around the world to ease the impact of the outbreak. United States President Donald Trump promised an "important" step on Monday and said he would discuss a cut in wage taxes with Congressional Republicans.
. In LONDON, the Financial Times index advanced 4.30% to 6,222 points.
. In FRANKFURT, the DAX index rose 3.65% to 11,013 points.
. In PARIS, the CAC-40 index gained 4.49%, at 4,919 points.
. In MILAN, the Ftse / Mib index appreciated by 3.63%, to 19,146 points.
. In MADRI, the Ibex-35 index registered an increase of 3.76%, to 7,998 points.
. In LISBOA, the PSI20 index appreciated 5.20%, at 4,488 points.