Michael hewson - Latest News Update, Information, Photos & Videos on Michael hewson at Lokmat Times

London, Sep 5 Financial markets are being rocked by the shutdown of Russias Nord Stream 1 pipeline, as the energy squeeze on European economies intensifies as winter approaches.The euro fell to a two-decade low during early trading on Monday morning, after Russian energy major Gazprom extended the shutdown of its gas pipeline to Germany on September 2, The Guardian reported.Fears over sky-high energy prices, and possible shortages, pushed the euro further below parity against the US dollar sending the single currency as low as $0.9879 against the US dollar for the first time in two decades.Nord Stream 1 was due to restart operations on Saturday morning, after a three-day shutdown for maintenance.But Gazprom dashed hopes of a resumption the previous day, blaming a leak.Analysts predict gas prices will soar, having fallen back from recent highs last week, The Guardian reported.Michael Hewson of CMC Markets said" "Russia's actions on Friday in indefinitely closing the pipeline could see renewed upward pressure on European and UK natural gas prices when markets reopen today, after seeing big falls in prices last week as UK natural gas prices fell 39 per cent, while European prices fell 33 per cent."European stock markets are heading for sharp losses at the open, with Germany's DAX down 2-3 per cent in the futures market, The Guardian reported.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Mega Block

Maharashtra Lok Sabha Election

T20 World Cup 2024

Michael HewsonFOLLOW

Michael hewson, Latest News

International :British pound slumps to a 37-year low

London, Sep 16 The British pound slumped to a 37-year low on Friday after new data showed that ... ...

International :Euro hits 20-yr low as Russian pipe shutdown rocks markets

London, Sep 5 Financial markets are being rocked by the shutdown of Russias Nord Stream 1 pipeline, as ... ...