Quotes of Brent crude trying to get back to around $50 per barrel, which is unable to cross after today’s expiry of the nearest oil futures. Support to oil quotations have concerns about further disruptions in oil supplies due to the threat of strikes by workers of oil drilling platforms in Norway. It is worth noting that recent disruptions in oil supplies have become the most widespread phenomenon over the last decade due to force majeure reduction of oil production in Nigeria, forest fires in Canada, the growth of political tensions in Libya and several countries in Latin America and the strikes in France, blockading key oil terminals of the country.
Futures for the leading stock indexes of USA today in the morning the last few days. Major Asian stock indices mostly show a positive trend. The pre-European session in the current time indicates a likely small change in the leading European stock markets in early afternoon trading.
Leading European stock indexes on Monday mainly increased despite the fact that the British stock market was closed in connection with a non-working day (Spring bank holiday). The French CAC stock index on Monday gained 0.32%, while the increase among his component was allocated shares of banks BNP Paribas (+1.0%), Societe Generale (+1.0%) and carmakers Renault (+1.4%), Peugeot (+1.5%). The German stock indicator DAX (+0.46%) also showed positive dynamics on the background of increase of stock quotes of the largest carmakers Volkswagen (+1.7%), Daimler (+1.5%) and BMW (+0.8%). The optimism among European investors has caused the published data on the composite index of business and consumer confidence in the Eurozone economy, which in may rose to its highest level since January, pointing to improved sentiment in the business community and among consumers, which is largely manifested in the field of trade, services and construction.
The US stock market yesterday was closed due to national holiday (Memorial Day). Speaking on Monday at an international conference in Seoul, the head of the Federal reserve Bank of St. Louis, James Bullard said that markets around the world, apparently, well prepared for a possible increase in U.S. interest rates this summer. While a specific date for the rate increase, he did not name, saying that the decision will be taken depending on the incoming data. Currently, the market most likely believes the fed rate hike either in June or in July. However, in our view, the stakes can be raised on any of the four remaining until the US presidential elections of meetings of the fed.