30/10/2026 – The ECB Leaves Rates Unchanged; Lagarde Announces Surprise Resignation – Read more news

GAS & POWER: Gas prices are rising again after yesterday’s slight dip—they are set to close the week well above the psychological threshold of 100 €/MWh—supported by the arrival of cold air over the continent and particularly low wind speeds in Northern Europe (the latest update to weather models has confirmed both factors). On the geopolitical front, the stalemate continues, with contradictory statements from both sides.

EQUITY: Alphabet’s (Google) disappointing quarterly results are driving a sell-off in tech stocks, a sentiment that adds to the recent rise in commodity prices. Meanwhile, the ECB left interest rates unchanged, following the two rate hikes decided this year in response to rising energy prices, the most recent of which occurred last September. President Christine Lagarde explained that the Governing Council discussed the possibility of another rate hike but unanimously opted for a measured approach in light of uncertainty and essentially stable core inflation, without ruling out future tightening. The meeting was marked by the announcement, just a few hours earlier, of Lagarde’s resignation; she will step down on February 7, 2027, about nine months before the end of her term.