The Ftse Mib goes positive after the first few exchanges below par and scores + 0.18% at 24.266 points. Investors remain cautious as they await developments in the negotiations between Russia and Ukraine. In Piazza Affari Eni rises by 0.9%. The group and Sonatrach have announced a major oil and associated gas discovery in the Zemlet el Arbi concession, in the North Berkine basin in the Algerian desert. In general, stocks in the oil and oil service sector did well on the rise in oil prices. Tenaris advanced by 2.73%, Saipem by 1.24%.
Chinese exchanges closed trading higher, extending a recovery that began last week in the wake of easing tensions between the US and China over the Russian invasion of Ukraine. The Shanghai Composite closed up 0.1% to 3,253.69 points, while the Shenzhen Composite was up 0.7% to 2,160.54 points. The Shenzhen ChiNext index, on the other hand, advanced by 0.5% to 2,726.18 points. Leading the turnaround was the pharmaceutical sector, after several Chinese companies obtained licenses to develop generic versions of Pfizer’s anti-Covid drug nirmatrelvir. The Class A shares of Fosun Pharmaceutical, one of the companies to obtain the licenses, jumped 10%.
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