Markets Down Due to Negative Political Events

February 17, 2015

Yesterday world financial markets closed with a decline despite a slight rise in oil prices. In Europe, all eyes were on the Eurogroup’s meeting about the situation in Greece. At the previous meeting 11 February, the Eurogroup wasn’t able to make any conclusive decisions.   

As a result of Monday’s trading, indices closed in the red zone – the British FTSE 100 fell 0.24 percent down to 6,857.05 points, the French CAC 40 shed 0.16 percent down to 4,751.95 points, and the German DAX dropped 0.37 percent down to 10,923.23 points.

On the Russian equity market, the mood was also downbeat due to the conflict in Ukraine and noncompliance with the Minsk agreement from 12 February. On top of that, the European Union expanded its sanctions list.  Trading resulted in the MICEX index falling 2.04 percent down to 1,800.59 points and the RTS index – 1.83 percent down to 897.35 points.

On London’s ICE, the price of the Brent oil future for April went down by $0.12 and reached $61.40 a barrel. US exchanges were closed yesterday as the country celebrated Presidents’ Day.  

On the global Forex market, EUR/USD is still holding within the same correction range.

Anna Gorenkova, NordFX Analyst

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