European Stocks Rise as Oil Prices Fall
European stock markets are trending upward around midday, while oil prices are declining. The Dax is up 2.55%, the FTSE 100 has gained 1.73% and the CAC40 is up 2.08%. Milan’s FTSE Mib is leading the gains, rising 2.71% to 45,219 points.
Leading the increases on the main index are MPS, up 5.15%, and Mediobanca, up 5.36%. Other banking stocks are also showing strong performance, with Unicredit rising 5.07%, BPER Banca up 4.78%, Banca Mediolanum gaining 4.27%, Popolare di Sondrio increasing 4.23%, and BPM up 4.09%. Prysmian has also seen significant gains, rising 4.67%, as has STM, up 4.3%. The only stock showing a decline is Eni, down 1.52% in line with falling crude oil prices.
In commodity markets, oil prices are falling, with U.S. Crude trading at $87.90 a barrel, down 7.66%, while Brent crude is fluctuating around $90 (currently at $90.70), a decrease of 8.35%.
