الثلاثاء، 22 فبراير 2011

Unrest in Libya cast a shadow on the Italian stock market and oil prices skyrocketing to record highs


Cast a tragic unrest in Libya a shadow over the trading in the stock market because of the Italian financial relations strong between Tripoli and Italy. It is not surprising that the Italian stock market saw trading Monday
Frantic at the end of recorded its worst performance in Europe. Italy is considered the first trade partner of Libya since the sixties of the twentieth century, as Libya is the first trade partner of Italy in Africa and Arab countries.
The Italian market index lost 3.59% (the highest drop since June 2010). The decline in the market is higher than the Milan Madrid (2.33% -), Paris (1.44% -), London (1.21% -), Frankfurt (1.41% -).
Investors sold shares of companies that strongly deal with Tripoli on a daily basis, led by ENI of energy. Libya has been responsible for 14% of the total production of the Italian company of hydrocarbons, which is also the first foreign operator in Libya. And Eni shares lost 5.21% yesterday.
And experts to the site, "my money. Com" to the most catastrophic scenario for Eni will be the termination of contracts by the Libyan party. In any case, Eni said that currently there are no problems for its operations in Libya.
However, it believes that the Italian financial views of the Italian companies in the Libyan market will not evaporate at the same time. It is also expected that even in the case of the fall of the Gaddafi regime will abide by the rules of the new infrastructure deals worth about 1 billion euros.
On the other hand, companies evacuated oil and gas, European staff from Libya, and stopped the preparation of the excavation there because of the widespread unrest across the country.
Pulled''''Statoil of Norway, and''or. M. In''the Austrian, and''Shell''a number of its employees after the killing of dozens of protesters opposed to the ruling regime in Libya's second largest city of the Libyan Arab Jamahiriya, and the spread of protests in the capital Tripoli.
Not affected by production field Murzuq''oil''occupied''''Spanish Repsol so far, as well as the production of''Company''Italian Eni in Libya.
But my company''. B''the British do not produce oil or gas in Libya, but it was in connection with processing platform ground to start excavations in the west of the country suspended operations because of the escalation of violence.
The price for a barrel of oil yesterday to over 105 dollars in London on a level not previously scored since the end of September (September 2008) driven by concerns about the supply of black gold fueled by turmoil in the Middle East, especially acts of violence taking place in Libya, during the trading price of a barrel Oil of reference for the North Sea (Brent) to 105.08 dollars in circulation in London, the highest price since September 25 (September 2008).
The price of gold in the spot market to about $ 1400 per ounce and total purchase price of $ 1399.60 during trading versus U.S. $ 1388.58 an ounce in late New York trading at the end of last week.

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