European stock markets remain negative due to geopolitical risks in the Middle East and rising energy costs.
While statements that the agreement to ensure safe ship traffic in the Strait of Hormuz is nearing completion remain on the agenda, the possibility that the optimistic atmosphere in the region may change in a short time, as in the past, causes investors to act cautiously until a final agreement.
Despite the positive news flow regarding the agreement in question, it is noteworthy that oil prices increased following the developments that the Jizan oil facilities of the oil company Saudi Aramco were hit.
Analysts stated that inflation risks remain due to the fact that energy costs do not decrease and that the hawkish attitude of global central banks may continue in this context.
Oil prices continue to remain strong as concerns about energy supply have not been fully resolved. The barrel price of Brent oil for November delivery, which increased by 0.8 percent yesterday to 97 dollars, is at 98.7 dollars with an increase of 1.75 percent on the new day.
According to the data released in the region today, exports in Germany decreased by 0.8 percent monthly, contrary to expectations, while the country’s foreign sales decreased for the first time since January. Imports, on the other hand, decreased by 5.7 percent monthly, exceeding expectations.
The European Union (EU) Commission announced a 200 million euro investment package to support digital connectivity, clean energy and critical raw materials areas in Greenland.
Moreover, EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas, evaluated the Alternative for Germany (AfD) party’s victory in the Saxony-Anhalt state elections as “gaining ground for those who closed their eyes” to the hybrid attack threats against Europe, allegedly originating from Russia.
With these developments, as of 10.50 in the European markets, the Stoxx Europe 600 indicator index is at 648 points, with a decrease of 0.2 percent, and the FTSE 100 index in the UK is at 10,817 points, with a decrease of 0.1 percent.
In Germany, the DAX 40 index is at 25,928 points, with a 0.2 percent decrease compared to the previous close, in Italy, the FTSE MIB 30 index is at 51,977 points, 0.5 percent below the previous close, in France, the CAC 40 index is at 8,281 points, with a 0.3 percent loss, and in Spain, the IBEX 35 index is at 19,915 points, with a 0.5 percent decrease. is available.
Analysts stated that the data agenda in the Eurozone will be calm for the rest of the day.
