EU stock exchanges closed positive despite the slowdown of Chinese GDP – The Republic

Milan – The markets opened the week of doubt on US interest rates, but the answer will have to wait for September 17 when the Federal Reserve will announce its decisions. Before communicate when to start tightening monetary policy (the cost of money does not increase since 2006), the American bankers will try to understand how the markets react to the slowdown in the GDP of China after Beijing has corrected to 7.3% from 7.4% growth in 2014: “This is the lowest annual growth rate of the last 24 years,” says the government attributes the drop in “to a building slowdown, weakening domestic demand and difficulties in exports.”

With Wall Street closed for the Labour Day , the lists of the Old Continent manage to snatch a positive day despite new uncertainties raised by Beijing. Milan marks a rise of 0.7%, in line with Frankfurt . London ends exchanges at + 0.52% and Paris to + 0.59%. L ‘ € closed up slightly at $ 1.1164 and 133.22 yen in a session characterized by restricted trade due to the closure of the US markets. Stable dollar / yen, at an altitude of 119.33. Even the spread ends just moved into the area 120 basis points, while the BTP make 1.87%.

The first reactions to the Chinese data had come from Asia, where Tokyo closed up 0.38% at the end of a session wavering, while in China the volatility has remained high: Hong Kong closed down 1, 23%, Shanghai has lost 2.5% final. In the absence of significant macroeconomic data Europe looks to German industrial production rose in July by 0.7% and 0.5% cyclical trend. It ‘was also revised the figure for industrial production in June from -1.4% to -0.9%. The data are worse than expected, confirming the fact that the slowdown in China’s influence on manufacturing and German – cascade – Italian exports. That may adversely affect growth in the latter part of the year.

On Friday, Wall Street closed the second worst week of the year. The August employment report did not provide clarity on the timing of the Fed could start raising interest rates. The jobs created were lower than estimated but the unemployment rate fell to its lowest in April 2008 and hourly wages rose more than forecast. Salt therefore waiting for the meeting of 16 and 17 September. Only then you will understand whether the US central bank has preferred to focus on the domestic economy or on the risks coming from abroad as a slowdown in China. The Dow Jones lost 1.7%, ending the week down 3.3%. The S & amp; P 500 left on the ground 1.5%, the Nasdaq lost 1.1% during the week and posted a -3.55%.

Starting the week down for quotations oil : after losing over ten percentage points in the last five sessions, the Brent folds back almost 2% to $ 48.7 per barrel while WTI crude trades on the box 45 dollars barrel, down 1.5%. Quotes of ‘ Gold at least for two weeks on Asian markets: bullion, with immediate delivery, is trading at $ 1117.89 an ounce.

Arguments:

China

growth

Beijing

European shares

Wall Street

gold

oil

spread

btp

Federal Reserve

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