Milan – Signs of rebound for the European stock exchanges and, judging by futures for Wall Street, after two days of losses that marked the transition from August to September, showing how fragile the market now . Instead remain weak markets in Asia, dominated by the volatility and the list of Shanghai fluctuates throughout the day in heavy losses and signs of recovery. “Investors are concerned about global economic growth, starting with concerns about China, just at a time when the Fed is considering raising interest rates,” said Shane Oliver from Sydney to Bloomberg . “This mix makes investors restless.”
The Stoxx Europe 600, representative basket of securities of the old continent, is recovering from a slip of 2.7%, after having filed August with a 8.5% collapse, the worst since 2011, when it seemed the strength of the euro at stake. Milan today marks a recovery of 0.5%, with Fca out after the registration data. The other European markets have recovered slightly: London is in line with the Milan Stock Exchange at + 0.5%, Frankfurt and Paris rise of 0.4%.
Yesterday, in China, had spread rumors of a possible return to the field of ‘national team’, the team of brokers and financial state-sponsored able to move the market by starting important purchase orders, in view of the feast to celebrate the victory in World War II. Meanwhile, the pressure on Beijing halls abroad: the United States are pushing for better communication of its policies. The request comes in light of concerns about slowing growth in doubt the opacity of the answers that the government is able to give. According to an analysis of Rabobank reported by Bloomberg , the Chinese central bank would spare cartridges to spend up to December, to withstand the course of the yuan after the recent devaluation considered other financial commitments, must maintain reserves for at least 2.7 trillion dollars. Shanghai closed weaker at -0.6%, but despite the collapse of about 40 percentage points from the peak in June, the shares on the mainland market yet deal at twice the price compared to Hong Kong. Not enough outflows to 4.9 trillion dollars by the Shanghai market to make up the difference and the premium to the special region was 115%. The Tokyo Stock Exchange closed slightly lower in a session by the high turnover that has followed the trend of the currency market. Eventually the Nikkei lost 0.39%.
Opening up slightly of ‘ € on the dollar above 1.12 share. The single currency is changing hands at $ 1.1274 while yields against the yen to 135.38. Investors reason on the board of the European Central Bank tomorrow and bet that Mario Draghi will take the field in support of the economy. Six months after the launch of the plan to purchase bonds, investors – shows the Wall Street Journal – believe that with China’s slowdown, the strong euro and low inflation will push the ECB to loosen monetary policy further. Stable trend for the spread between BTP and Bund to 120 basis points with a yield of 2%.
oil , recovering from a steep fall after three days at + 25%, comes down with oil prices returning to below 45 dollars a barrel on the New York market after hour: the WTI contracts maturing in October change hands at $ 44.3 per barrel. Brent back below $ 50 to $ 48.4 per barrel. L ‘ Gold is again falling on Asian markets after the rise in recent days: the bullion for immediate delivery yields 0.2% to $ 1,138 an ounce.
Wall Street reopens after a session still negative: was the third worst of 2015 and the worst way to usher in September for 13 years now. For another, just in September it is historically the weakest month of the year, during which the US stocks lost an average 1.1% from 1927 to the present. The Dow Jones closed yesterday down 2.48% with all 30 blue chips in red, the Nasdaq has filed the 2.94%. The macro agenda today foresees the trend of new jobs ADP, labor costs and productivity, factory orders and the beige book Fed.
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