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This article was published on September 4, 2015 at 9:11.
The last change is the September 4, 2015 at 22:17.
Closing heavy for European markets after US data on the job in a day of closing of the Stock Exchange Chinese. Bags accuse the heavy losses and have exacerbated the declines in the afternoon, web surfing has been published the monthly US employment. Milan was the worst with a decline of 3.18 percent final. Also hurt other European markets, with declines of more than 2% on all major financial centers. Frankfurt -2.53%, -2.64% Paris, London -2.4%). Negative even Wall Street, where the Dow Jones lost 1.66% to 16,102.58 points, the Nasdaq yields 1.05% to 4,683.92 points while the S & amp; P 500 leaves on the ground 1, 5% to 1921.2 points.
The US data actually are conflicting and do not say much more about the health of the US labor market, a key indicator to understand when the Fed will raise rates. The US economy has in fact created in August 173mila jobs, braking than 245mila of July, according to reports from the Department of Labor. Analysts had expected a greater increase, amounting to 220,000 units. The unemployment rate instead went better estimates: fell to 5.1% from 5.3% in July due to a smaller workforce. It is the lowest figure since April 2008.
The report of the Department of Labour in short, does not add much to the picture on the US economy and the outcome of the meeting of 16 and 17 September the Federal Reserve promises to be very uncertain: Analysts are divided about the possibility that already On that occasion Yellen and colleagues decide to raise interest rates, in what would be the first hike of the Fed since June 2006.
European stocks still have used these data to accentuate American losses at the end of a week that saw wild swings downward and upward. The sharp adjustment is partly technical in nature, in the light of yesterday’s rally, as investors had focused more on the possibility of an extension of the program of “quantitative easing” reaffirmed by the ECB President, Mario Draghi, rather than just encouraging downward revisions in estimates of GDP and Eurozone inflation. Black mesh on the Milan Stock, who comes to give fno 3%, hurt even Frankfurt, below 2% in the wake of the drop in factory orders, deeper than expected. Losses similar to Paris, London and Madrid.
At the Milan Stock bad banks
Heavy in Milan especially banks with Unicredit declining 5.3%, 4.9% and Intesa MPS 4.5%. Piazza Affari passes clearly negative also Mediaset (-1.3%) while holding Telecom (-0.6%). In the red for the other blue chips. Telecom Italy sells 0.9% on the day when the president Giuseppe Recchi, from the pages of Sole 24 Ore, reiterated that Brazil is strategic for the company and also threw cold water on the horizon of possible extraordinary transactions. The manager said it does not believe the synergies from the merger with operators in other countries. After the jump yesterday, holding back the Yoox (-1.9%).
Currency Euro / dollar
In terms of the euro exchange rate remains well below the level of 1.12: changing hands at $ 1.1131 (yesterday at 1, $ 1104). It is also 133 yen (133.44 yen), while the dollar stood at 119.47 yen (120.18). Finally, the WTI oil retreats by half a percent to $ 46.24 a barrel.
Yesterday the push to market the ECB
Yesterday, the number one of the Central Bank European, Mario Draghi, had given the charge to the price lists of the Old Continent by announcing a change in the operation of quantitative easing (has been raised from 25 to 33% share limit purchases of public and private securities), and reiterating that the institution is ready to fall again in the field to support the economy. The Eurotower has however given a scissor kick to the forecasts on GDP and has also revised down the inflation estimates, putting into account that in the coming months could also become negative.
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