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The main European stock markets fell at the opening of this Friday after the news that the president of the United States, Donald trump, and his wife Melania gave positive for covid-19.
In early exchanges, London’s benchmark FTSE-100 fell 1.1%, Frankfurt’s DAX-30 1.4% and Paris’s CAC-40 also lost 1.4%.
In Madrid the Ibex-35 started the day with losses of 1.12%.
On the other hand, the Tokyo stock market closed lower and the benchmark Nikkei 225 index ended the session with losses of 0.67%.
Petroleum
The prices of the Petroleum fell sharply this Friday, in a context of imbalance between supply and demand which remains poorly conducive to price recovery.
To this, there was also the confirmation that the US president suffers from covid-19.
He barrel of North Sea Brent for delivery in December it was worth $ 39.34 in London, 3.88% less than on Thursday at the close.
In New York, the wti barrel for November it fell 4.18% to $ 37.10.
On Thursday, the two benchmark prices had already fallen more than 3% at the close, having crossed the -5% mark during the session.
“Oil prices experienced a very turbulent session yesterday (Thursday) and declines continued to accelerate this morning on the news that US President Donald Trump tested positive for coronavirus,” commented JBC analysts.
Investors
Trump, 74, said in a tweet Thursday night that he tested positive, as did his wife Melania, and that he was going to enter quarantine.
The announcement caused oil prices to fall, which at the time they only lost 1%.
Investors remain concerned “by the fact that the oil production of the Organization of the Petroleum Exporting Countries (OPEC) is increasing while the rebound in demand is wearing off,” JBC analysts added.
And the absence of a new recovery plan American doesn’t help, according to Oanda’s Jeffrey Halley.
“The combination of tepid demand, increased global supply, and political uncertainty in the United States are causing a powerful cocktail that drives prices down “said Stephen Brennock, an analyst at PVM.
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