Milan – European shares bounce after a volatile session, after two days of losses that marked the transition from August to September, showing how fragile the market now. Remain weak also lists in Asia, where it dominates the uncertainty with the list of Shanghai that has fluctuated throughout the day between 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 survival of the euro. Milan closes in recovery of 0.75%, with Fca out after the registration data. The other EU bags are slightly higher: London salt of 0.41%, Frankfurt 0.3% and Paris advances of 0 , 32%. Wall Street goes back after the slip of the vigil, which was the worst way to inaugurate 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. Today, at the close of the European markets, the Dow Jones added 0.8% as the S & amp; P 500, while the Nasdaq advancing by 0.9%. Analysts raking in the US the creation of 190 thousand new jobs in the private sector (ADP data) in August, below the estimates for 200 thousand new places but in acceleration compared to July. Above expectations, however, the revision of productivity in the second quarter: the figure was raised to 3.3% from 1.3% prior. Also disappointing factory orders, which rose by only 0.4% in July. In the evening Italian expects the beige book Fed.
Yesterday, in China, had spread rumors of a possible return to the field of ‘national team’, the team of brokers financial and state-sponsored able to move the market by starting major purchase orders, in view of the feast to celebrate the victory in World War II (tomorrow and Friday the stock markets will be closed): The press writes an order to 50 companies brokerage to invest up to 100 billion yuan in blue chips in order to stem the bleeding markets. Beijing has gone up while the pressure with 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 -0.2%, 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%.
‘ € closed down at $ 1.1228, near the lows of the session. Driven by the excellent data on productivity in the US, the dollar confirms the recovery phase and progresses to share 120.05 yen. 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. Trend slightly higher for the spread between BTP and Bund to 123 basis points with a yield of around 2%. In Spain, in August, the unemployment rose slightly: the jobless are 4.07 million, 21,679 more people, linked to the end of seasonal contracts summer.
oil It is recovering from a steep fall after three days at + 25%, to fall back to below $ 45: WTI reflects the increase in US stocks of 4.66 million barrels, against expectations for a timid increase of 100 thousand units. 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.
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