European stock markets open higher on a day marked by the rise in the price of oil

The large European stock markets, except Madrid, open higher on a day marked by the rise in oil, which returns to levels prior to the start of the turbulence that sank the stock market value of banks after the announcement of cuts of production from several producing countries.

A few minutes after opening, London rises just over 0.6%, Paris and Milan, around 0.4%; Frankfurt, 0.06%, and the Euro Stoxx 50 index, which groups large listed companies, 0.1%, while Madrid fell 0.2%.

Oil rises around 5% when the stock markets open in Europe and stars at the beginning of this week, shorter than usual due to the Good Friday holiday.

The barrel, which this morning reached US$ 86, exceeds US$ 84 a barrel at this time, a level that it has not touched since before the fall of the Silicon Valley Bank (SVB) which led to a wave of falls in the stock markets for fear of a crisis in the financial sector.

In addition, in those days OPEC and the IEA announced a reduction in their forecasts for world oil consumption.

This Monday the final manufacturing and services PMI indices for several European countries will be released, which are expected to show some improvement, although they will continue to contract.

The euro loses 0.1% compared to Friday and changes to US$1,082, and gold 0.5%, up to $1,958 an ounce.

In the secondary debt market, the yield on benchmark bonds from the main euro area countries rose by around half a tenth.

Germany’s ten-year bond, considered the safest, advances 5.7 basis points and reaches 2.334%.