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Euro zone stocks choppy as ECB starts rate hike with a big stride

Friday, July 22, 2022

By Susan Mathew and Devik Jain

(Reuters) - Euro zone stocks slipped in volatile trading on Thursday as investors assessed the impact of an aggressive 50 basis point interest-rate hike by the European Central Bank amid growing worries about a recession and a political turmoil in Italy.

Rate-sensitive euro banks fell 1.1% after gaining as much as 1.8% earlier in the session.

In its first rate hike in 11 years, the ECB lifted interest rates to zero percent, breaking its own guidance for a 25 basis point increase, as inflation stood at a record high of 8.6%, way above its 2% target.

"We have less visibility as to what the ECB's next move might be and the market will be dependent on inflation data coming through, any indication the euro zone economy is accelerating or slowing down, it's more likely to slow down," said Julien Lafargue, chief market strategist at Barclays (LON:BARC) Private Bank.

"That means we're going to go now from meeting-to-meeting without necessarily having a good indication what the ECB will be doing next. And that is probably going to bring more volatility."

A gauge of euro zone shares dropped 0.4%. The broader-pan European STOXX 600 index fell 0.4%. Both the indexes had turned higher following the ECB's decision.

In a bid to cushion the impact of the rise in borrowing costs, the ECB also unveiled a new tool, the Transmission Protection Instrument and limit financial fragmentation.

This resulted in Italian banks cutting a chunk of their session losses to trade down 4.6%. They had fallen up to 7.2% earlier in the day after Prime Minister Mario Draghi resigned, pushing the country into political turmoil.

An early election in September or October will be the most likely outcome. Italy's benchmark FTSE MIB index which had dropped almost 3% earlier in the day, was last down 1.9%.

Some relief on Thursday came from easing worries over an energy supply crunch, as Russian gas resumed flowing through Nord Stream 1, the biggest pipeline between Russia and Germany.

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17-08-2022 23:19:31 (UTC+7)

EUR/USD

1.0167

-0.0003 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

EUR/USD

1.0167

-0.0003 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

GBP/USD

1.2039

-0.0054 (-0.45%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (6)

Sell (3)

USD/JPY

135.45

+1.24 (+0.92%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (0)

AUD/USD

0.6920

-0.0103 (-1.46%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (2)

USD/CAD

1.2923

+0.0079 (+0.62%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

EUR/JPY

137.71

+1.22 (+0.89%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

EUR/CHF

0.9699

+0.0045 (+0.47%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

Gold Futures

1,775.45

-14.25 (-0.80%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (4)

Silver Futures

19.672

-0.413 (-2.06%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (4)

Copper Futures

3.5808

-0.0437 (-1.21%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Crude Oil WTI Futures

87.03

+0.50 (+0.58%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (1)

Brent Oil Futures

92.61

+0.27 (+0.29%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (4)

Natural Gas Futures

9.227

-0.102 (-1.09%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (1)

US Coffee C Futures

217.55

-1.80 (-0.82%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Euro Stoxx 50

3,756.06

-49.16 (-1.29%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (4)

S&P 500

4,262.80

-42.40 (-0.98%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (11)

Sell (0)

DAX

13,626.71

-283.41 (-2.04%)

Summary

Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (3)

FTSE 100

7,515.75

-20.31 (-0.27%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (4)

Hang Seng

19,922.45

+91.93 (+0.46%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (4)

US Small Cap 2000

1,977.50

-42.76 (-2.12%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (2)

IBEX 35

8,434.80

-77.10 (-0.91%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (4)

Sell (1)

BASF SE NA O.N.

42.685

-2.065 (-4.61%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

Bayer AG NA

53.37

-0.93 (-1.71%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (4)

Sell (3)

Allianz SE VNA O.N.

177.54

-2.40 (-1.33%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

Adidas AG

169.10

-4.26 (-2.46%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (8)

Deutsche Lufthansa AG

6.467

-0.280 (-4.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Siemens AG Class N

108.64

-3.40 (-3.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Bank AG

8.856

-0.108 (-1.20%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (3)

 EUR/USD1.0167↑ Sell
 GBP/USD1.2039Neutral
 USD/JPY135.45↑ Buy
 AUD/USD0.6920↑ Buy
 USD/CAD1.2923↑ Sell
 EUR/JPY137.71Neutral
 EUR/CHF0.9699Neutral
 Gold1,775.45Sell
 Silver19.672Sell
 Copper3.5808Sell
 Crude Oil WTI87.03↑ Buy
 Brent Oil92.61Neutral
 Natural Gas9.227Neutral
 US Coffee C217.55↑ Sell
 Euro Stoxx 503,756.06Sell
 S&P 5004,262.80↑ Buy
 DAX13,626.71Sell
 FTSE 1007,515.75Neutral
 Hang Seng19,922.45Neutral
 Small Cap 20001,977.50↑ Buy
 IBEX 358,434.80Neutral
 BASF42.685Neutral
 Bayer53.37Neutral
 Allianz177.54Buy
 Adidas169.10↑ Sell
 Lufthansa6.467↑ Sell
 Siemens AG108.64↑ Sell
 Deutsche Bank AG8.856Neutral
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Cập nhật 17-08-2022 23:19:33
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$1,762.17-13.51-0.76%
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Sản phẩmVùng 1Vùng 2
RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI$86.53+0.090.10%
Brent$92.12+0.280.31%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.235,0023.545,00
EUR23.186,9924.485,46
GBP27.597,2628.774,17
JPY169,51179,46
KRW15,4518,83
Cập nhật lúc 18:50:59 17/08/2022
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