On Thursday, European stock indexes strengthened slightly against the background of rising oil prices. At the same time, investor activity declined after the UK officially began the process of leaving the European Union. Oil prices strengthened significantly this week, although they retreated from a three-week high during today’s trading. Yesterday’s data on a significant drop in stocks of petroleum products in the United States and a halt in production at two oil fields in Libya, pushed oil quotations to the top. The Brexit process started from the moment when the EU leadership received an application letter for withdrawal from the EU from the UK authorities. The negotiations are given 2 years and one of the main questions may be the compensation which the leadership of the European Union requires. In Brussels, they believe that London must pay 60 billion euros in financial obligations. Yesterday the BBC TV presenter talked about the payoffs with British Prime Minister Teresa May. “Now we are discussing the compensation required by the EU, but there is a lot of speculation around this topic. This is not an official requirement, and negotiations have not yet begun. I understand the expectations of the British, but I clearly realize that we are a law-abiding nation that fulfills its obligations, ”said May. In addition, during the interview, May confirmed the desire of the UK to preserve duty-free cross-border trade with the European Union. At the same time, German Chancellor Angela Merkel said she was against simultaneous negotiations on the terms of Brexit and the new trade agreement between the UK and the EU. In her opinion, new relationships can be built only after the process of divorce is completed.
The presidential race in France, presented another surprise. Last night, a representative of the socialist party, former Prime Minister Manuel Wals, said he would not support his single party member Benoit Amon. Instead, Wals intends to vote for the independent candidate Emmanuel Macron, so he intends to help voters unite against Marin Le Pen and the National Front. The index of leading economic indicators of Switzerland from KOF in March was 107.6, while the forecast was 106.0. The consumer price index in Spain in March did not change from the previous month, while analysts predicted a growth of 0.2%. Consumer Confidence Index (Euro-zone in March: -5.0, with a forecast of -5.0. Index of expectations in the service sector of the Euro-zone in March: 13.0, with a forecast of 14.0.
FTSE 100 7,378.56 4.84 0.07% DAX 12.222.48 19.48 0.16% CAC 40 5.070.72 1.68 0.03% FTSE MIB 20.286.48 9.68 0.05% IBEX 35 10.370.30 2.70 0.03% Stoxx 600 378.86 0.33 0.09%
Review prepared by Fort Financial Services Research Department. Follow our publications!