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    EUROSTOXX50: upward momentum is failing on 16.02.2016

    Yesterday, at the meeting of European Parliament in Brussels Mario Draghi said that if necessary, the European Central bank can loosen monetary policy even more. It seems that investors were pleased with the prospects of possible revision of the monetary policy in March.

    Investors in the financial markets showed increased risk appetite in the past two days. They withdraw funds from safe-haven currencies, such as gold and the Yen and buy risky assets, such as European and American equities.

    Within 2 days European stock index EUROSTOXX50 has regained half of the losses taken since the beginning of this month, and reached the lows of January.

    Growth in the global stock indices has intensified today in Asian trading session amid sharp rise in oil prices and releasing concerns about instability of the Chinese financial markets.

    At the end of trading session the indices of Shanghai Composite have grown by 3.3%, Hang Seng Index – by 1.1%, Australian index ASX 200 – by 1.4%, Japanese Nikkei Stock Average rose by 0.2%.

    The price of crude oil Brent increased by 6.2% reaching almost 35.50 USD per barrel. The largest oil producing countries Saudi Arabia, Russia and Venezuela agreed to freeze oil production at the level of January.

    However, European stock indices, which have risen at the opening European session, are now losing upward momentum.

    The effect from the sharp decline of the world stock indices, which took place last week because of the concerns about the state of the global economy and large banks, still continues. We still cannot say that general situation in the global financial markets has stabilized.


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