Mixed openings on Asian stock markets; all eyes on US inflation figures
Traders are awaiting data on inflation and retail sales in the United States, due to be released this week, as well as the latest quarterly financial results from the major US banks
Le ultime da Radiocor
*** Eni: due accordi per cessione partecipazioni in asset upstream in Indonesia
***Ucraina: Zelensky, non a corrente di cessate fuoco su energia, ma pronti a farlo
***Ucraina: Trump, in vigore cessate il fuoco su energia, 'non infrangetelo!'
Mixed openings for Asian stock markets: with the Tokyo Stock Exchange closed for a public holiday, South Korea’s Kospi index fell by 3.1 per cent to 6,416.17. The HANG SENG index in Hong Kong gained 0.2 per cent, rising to 24,253.70, whilst the Shanghai Composite Index fell by 0.1 per cent to 3,809.08. In Australia, the S&P/ASX 200 jumped 0.9% to 8,790.70. Taiwan’s Taiex fell by 0.2 per cent, whilst India’s Sensex rose by 0.1 per cent.
Oil prices have fallen by around $1.50 a barrel, with prices fluctuating due to uncertainty over when the war with Iran will allow the global energy sector to return to normal. US share futures, meanwhile, gained over 0.3 per cent after Wall Street closed a record-breaking week of gains: traders are awaiting US inflation and retail sales figures due to be released this week, as well as the latest quarterly financial results from major US banks.
Trump’s row over Russian diesel
Trump shocked lawmakers when, on Friday 9 October, he announced on social media that he had reached an agreement with Russian President Vladimir Putin, during a telephone call, to purchase Russian diesel, with the aim of curbing soaring fuel prices ahead of the US mid-term elections on 3 November.
The president stated that Russia would immediately supply over 300,000 tonnes of diesel to the US and global markets, followed by a further 500,000 tonnes in November and 1 million tonnes ‘shortly afterwards’. Russia would deliver a further three million tonnes ‘shortly’ thereafter, he wrote.
The plan runs counter to US efforts to reduce the flow of money that Russia derives from oil and gas sales – money that could be used to fund its war against Ukraine. Trump’s announcement came just a few weeks after Congress passed a law requiring Trump to impose substantial tariffs on major importers of Russian oil or natural gas, with an exception for countries that import less than 15 per cent of Russia’s natural gas exports and have taken significant steps to reduce those imports.
