Oil price increase and stock markets revisited
Volume 34, Issue 5SeptemberPages — Applying sector stock prices and oil prices in However, stock price changes in Germany, the UK and the US were found to lead oil price changes. As for the interaction between oil price changes and sector stock price changes, we find short-run negative causal relationships: In particular, stock returns of information technology and consumer staples sectors were found to be impacted most by oil price shocks, followed by financial, utilities and transportation sectors.
In terms of causality from sector stock price changes to oil price changes, we find stock price changes lead oil price changes in 8 of 9 sectors in Germany, most in the G7 countries followed by the UK, Italy, France, Canada and the US. No such a causal relationship, however, is make money lineage 2 god for Japan.
With respect to specific sectors, stock price changes in consumer oil price increase and stock markets revisited and materials sectors were impacted most significantly by oil price changes followed by transportation, financial, energy, health care, industrials, utilities, information technology and telecommunication sectors with the exception of consumer discretionary sector. In addition, short term stock price changes are found to lead positively oil price changes.
OIL PRICES AND STOCK MARKETS IN GCC COUNTRIES: EMPIRICAL EVIDENCE FROM PANEL ANALYSIS - Arouri - - International Journal of Finance & Economics - Wiley Online Library
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Oil price movements and stock markets revisited: A case of sector stock price indexes in the G-7 countries
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Oil shocks and stock markets revisited: Measuring connectedness from a global perspective
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