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« on: August 09, 2018, 08:12:13 PM »
The European Markets Are Staying Under the Pressure of Geopolitical Factors
The European stock market, which is still under the pressure of the developing trade conflict between China and the US, will continue to monitor the geopolitical situation, world oil prices and corporate news.
At the beginning of August, the government of the USA confirmed its plans to introduce import levy for Chinese goods and services of 200$ billion a year in total. In response, China declared that it is ready to introduce increased import levies up to 25% for 5207 names of goods from the USA with the delivery volume of about 60$ billion a year.
Alongside this, the USA have renewed the part of the sanctions against Iran. In its turn, the European Union has declared that it is going to block the implementation of these American sanctions in order to protect the interests of the EU companies.
In addition, the European traders will continue to monitor the publication of finance reports by the largest companies of this region. The reports that have been issued recently are ambiguous.
One more reference point for the European markets will be the world dynamics of the oil prices. Earlier it became known, that the US oil reserves have decreased by 6 million barrels in a week, whereas it was expected that they would decrease only by 3.1 million barrels. That being said, the petrol reserves have increased by 3.1 million barrels, and the distillation product reserves have increased by 1.8 million barrels.
The oil prices are also influenced by the change of the oil production forecast for the USA. The Energy Information Administration (EIA) of the US Department of Energy has cut the forecast of the US oil production in 2018 to 10.7 million barrels a day. In 2019 the EIA forecast of the US oil production is 11.7 million barrels, whereas before 11.8 million barrels were expected.
At the same time, the renewal of the sanctions against Iran is a positive factor for the oil prices, because the investor expect the decrease of the Iranian oil deliveries to the world markets. The rise of oil prices may lead to buying the stocks of such European companies as British BP and French Total.
Ivan Marchena, analyst at Libertex
The European stock market, which is still under the pressure of the developing trade conflict between China and the US, will continue to monitor the geopolitical situation, world oil prices and corporate news.
At the beginning of August, the government of the USA confirmed its plans to introduce import levy for Chinese goods and services of 200$ billion a year in total. In response, China declared that it is ready to introduce increased import levies up to 25% for 5207 names of goods from the USA with the delivery volume of about 60$ billion a year.
Alongside this, the USA have renewed the part of the sanctions against Iran. In its turn, the European Union has declared that it is going to block the implementation of these American sanctions in order to protect the interests of the EU companies.
In addition, the European traders will continue to monitor the publication of finance reports by the largest companies of this region. The reports that have been issued recently are ambiguous.
One more reference point for the European markets will be the world dynamics of the oil prices. Earlier it became known, that the US oil reserves have decreased by 6 million barrels in a week, whereas it was expected that they would decrease only by 3.1 million barrels. That being said, the petrol reserves have increased by 3.1 million barrels, and the distillation product reserves have increased by 1.8 million barrels.
The oil prices are also influenced by the change of the oil production forecast for the USA. The Energy Information Administration (EIA) of the US Department of Energy has cut the forecast of the US oil production in 2018 to 10.7 million barrels a day. In 2019 the EIA forecast of the US oil production is 11.7 million barrels, whereas before 11.8 million barrels were expected.
At the same time, the renewal of the sanctions against Iran is a positive factor for the oil prices, because the investor expect the decrease of the Iranian oil deliveries to the world markets. The rise of oil prices may lead to buying the stocks of such European companies as British BP and French Total.
Ivan Marchena, analyst at Libertex