Rising oil and unstable markets due to close US election

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Rising oil and unstable markets due to close US election. Conflict between Trump and Biden has several stock markets on edge.

The main world stock markets were unstable this Wednesday due to the uncertainty in the vote count of the presidential elections in the United States and the claimed victory of Donald Trump, despite the fact that the final results have not yet been published.

After having opened with losses, some European markets were recovering and, around 9 in the morning in London, the Paris stock market gained 0.27 percent and London, 0.05 percent. However, Frankfurt lost 0.45 percent; Madrid, 1.05 percent and Milan, 0.98 percent.

In Asia, the Nikkei index of the Tokyo stock market closed with a strong rise of 1.72 percent, in the wake of Wall Street, which had closed in the green. Hong Kong’s Hang Seng ended 0.21 percent down, the Shanghai index gained 0.19 percent and Shenzhen’s 0.31 percent.

In addition to the US election, Chinese markets suffered the blow of the announcement on the eve of the postponement of the Ant Group, the Chinese online payment behemoth, from the IPO, which weighed down the stock of Alibaba, the former parent company.

Donald Trump claimed victory in the elections on Wednesday against Joe Biden, although the counting of the votes is still ongoing, especially in several key states.

“There is great uncertainty around what Trump says” about the fraud in the elections and his intention to appeal to the Supreme Court, analyst Naeem Aslam told AFP.

Oil starts on the rise

Meanwhile, the price of a barrel of Brent oil (the European reference to which Colombian exports are linked) for delivery in January started on Wednesday on the rise in the London futures market, with a strong revaluation of 2.44 percent. cent, with which it exceeds 40 dollars (40.68 dollars). In the previous day, the Brent rose 1.85 percent.

See Also
US Election Results: Why It Is Still Not Known Who Won

The price of crude oil is trading one more day on the rise after it was learned that Saudi Arabia and other member countries of the Organization of Petroleum Exporting Countries (OPEC) are considering increasing production cuts due to the growing cases of covid-19 in the world , and the new confinements of the population decreed in Europe. A fact that could further reduce the demand for crude.


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