The Athens Stock Exchange reopens after a month and collapses: -20% – The Republic

Milan – Hours 24:05. From Asia to Greece the market crashes do not scare – for the moment – the European markets. Athens has reopened trading after five weeks of forced stop with a vertical drop of 18% conditioned mainly by financial stocks sunk by the National Bank of Greece: on the other hand the outcome of the referendum held on 5 July, the European markets were in altelena between collapse and sudden increases by Athens which remained immune. Somehow the list Athenian must then realign. Financial stocks, in particular, weigh the uncertainty of the outcome of negotiations for the green light to the new aid plan by 86 billion.

In China, however, fell more than forecast in the manufacturing sector in July, marking the lowest level since November 2011. The PMI Caixin calculated by Markit stops 47.8 share, down compared to the flash of 23 July, to 48.2, and far below the 50 mark, the threshold divide a shrinking market by an expanding. To affect the decline, according to analysts, the market crash last month, which would cool the productive activity: the effect may be transient, for the most optimistic, if the measures taken by the Chinese government to save the markets will show effectiveness in the coming weeks.

The sell-off that has engulfed Shanghai again (-2.1% after the session, but -30% from the levels of mid-June) has not yet hit Tokyo (-0, 18%) than by macroeconomic data braking Americans last week. Evil, however, Shenzhen who left the parterre 3.7%. Take, for the moment, the markets of the Old Continent. Milan Stock salt 0.3% as Paris and Frankfurt salt 0.4% and London yields 0.1%.

Stable spread in range of 110 basis points in the ten-year BTPs that market Secondary make the 1.77% the lowest level since mid-May and still less of the Spanish and Slovenian counterparts who have long represented to investors a safer haven of Italian debt. The euro trades below $ 1.10 share: the single currency is changing hands at $ 1.0989 and 136.28 yen.

On the macroeconomic front attention shines manufacturing index in Italy, while the US Waiting for household income in June (previous + 0.50%) and their spending (+ 0.90%). Also coming, the ISM manufacturing, in July (53.5) (the agenda of the markets). Among commodities gold is down by 0.3% to $ 1,092.14 an ounce. Downhill even crude: $ 46.35 a barrel WTI share, more than 70 cents less than the day before while Brent down 1.4% at $ 51.50.