European stocks weak. China’s PMI manufacturing to the lowest since 2009 – Il Sole 24 Ore

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This article was published September 23, 2015 at 9:35.

The European markets attempt rebound after bad session yesterday. At the start, it should be remembered, however, there are often related positions closed the last session. So, after a few minutes, the stock exchanges have become weaker.

Investors, of course, look at the data publication PMI (Purchase Managers’ Index). It is a marker indicating the mood of purchasing managers of companies and is used by economists to groped to understand what could possibly be the eveluzione economy in the near future. Well what about Chinese manufacturing in September, announced during the night, stood at stake 47. It is a minimum value since March 2009, and lower than estimated deggli analysts predicted that the level of 47.5.

In mattinana, however, I am expected SMEs in the Old Continent. In France, for example, there are some “signs of life”. After months of torpor, the Purchase Managers’ Index (always in September) came in first reading at an altitude of 50.4. That is to say a given higher than the fifth threshold that separates the threshold of the expansion phase from that of the contraction.

That said of SMEs, a look at the world of fixed income. The yield on ten-year BTP travels around 1.74%. A very low value which, inevitably, is the expression of the intervention of the ECB through Qe. The spread between Rome and Berlin is around 115 basis points.

In terms of currencies, the euro against the dollar is slightly higher at about 1.11.

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