Turmoil sweeps the financial, commodity and energy markets as the noose tightens on Russia

The financial markets around the world are witnessing a state of turmoil and fluctuation in their performance, amid the escalation of Russian tension, and the rise in commodity prices, especially oil, but the Russian market, which is trying to disrupt the manifestation of its collapse, remains the biggest loser.

Today, the Moscow Stock Exchange suspended trading due to the Russian invasion of Ukraine, and the violent fall of the ruble.

At a time when most European markets are witnessing declines of up to 4% in some markets, the Gulf markets have weathered the storm, supported by the rise in oil and gas prices.

Oil futures contracts for April delivery rose by regarding 5% during today’s trading, as Brent crude reached $102.75 a barrel, trimming some of the gains it made in the morning, while US NYMEX crude rose 5.14% to $96.3 a barrel.

Natural gas contracts in Europe jumped by 36% during trading today, Monday, and US natural gas contracts rose by 1.99% today, and American heating gas contracts rose by 3.97%.

Europe

With this rise, the discrepancy between markets in the world came mainly due to energy prices in addition to the tensions that escalate every moment, as European oil-importing countries witnessed declines, as the Euro Stoxx 30 Pro index fell by 3.15%, and the British FTSE index fell by 1.44%, as well. The DAX Index decreased by 2.63%, the French CAC Index decreased by 3%, and the Spanish EPEX 35 Index decreased by 1.55%, while the Athens Composite Stock Index decreased by 4.56%.

On the other hand, Norway’s OSE rose by 0.45%, Poland’s index rose by 0.34%, and Denmark’s by 0.93%.

Gulf

Turn off Gulf region stock exchanges An increase in today’s trading, following witnessing slight declines at the beginning of trading, as the Dubai market index rose by 1.15% to reach 3350.7 points, and the FTSE Abu Dhabi index rose by 2.04%.

And the Saudi stock market index achieved an increase of 0.47%, while the main Kuwait market index witnessed a decline of 1.21%.

The main Egyptian Stock Exchange index fell by 0.53% to 11,114.86 points.

Supported by the rise in natural gas prices, the Qatar Stock Exchange index rose today by 2.28% to 12,948.75 points.

Futures

Trading in the March futures contracts for US indices warns of a decline on Wall Street during today’s trading, as the Dow Jones index contracts fell by 427 points, the Standard & Poor’s 500 contracts fell by 63 points, and the Nasdaq 100 contracts fell by 180.25 points.

Asia

Although Asia will not be directly affected by the war in Ukraine, high energy prices are not welcome for countries such as Japan that import oil, especially at a time when they are trying to recover from the effects of the Corona pandemic.

However, the Nikkei 225 was up 0.19% and the Topix was up 0.57%, while the Chinese Hang Seng was down 0.24%.

coins

Concerns in the currency market were not limited to the ruble, which fell today by 30%, but extended to the euro, which fell 0.8% to 1.11745 dollars, and to 129.2 yen, and it fell 0.9% once morest the Swiss franc.

The dollar’s rise receded, and its index, which measures its value once morest six major currencies, settled at 97.128.