Milan – The stock exchanges are continuing the positive tone that has characterized the last sessions, started from the idea that the Federal Reserve will postpone the rate hike Use missing since 2006. The minutes of the meeting held on 16 and 17 September last, when the central bank decided to leave rates unchanged, they showed that that decision was also linked to the concerns of the governors on the progress of inflation, far from the 2% target set by the Fed. And so the market is inclined to think that this year there may be an increase in the cost of money, still at historically low levels equal to 0-0.25% since December 2008. The governors, it must be said, have done everything to make it clear that a scenario is not ruled out, noting that by the end of December it will create the conditions for the close.
The president of the Atlanta Fed, Dennis Lockhart, today reiterated that he sees an “increasing downside risks “for the US economy in recent weeks but, despite this, he considers” the US economy started to walk in a satisfactory manner “. For this, according to Lockhart the “ liftoff ” and that the rate hike could be “decided in the year.” The feeling of the markets, however, is that the outlook is a supplement of ultra-accommodative policy also due to uncertainty about the emerging economies, as well as the shaky financial situation of China, which some demand now to put pen to paper. And ‘the case of the Nobel laureate Joseph Stiglitz, according to which the US central bank would remove the uncertainty on interest rates, saying “not raise interest rates until next year. To me that’s the right answer,” he explained adding: “The fact is that we now know that the US economy will not be strong in the coming years.”
The European markets closed so modest increases: Milan marks +0 , 46%, in line with the other: London + 0.65%, Frankfurt + 1.04% and Paris +0.54 %. At the Milan stock remains weak RCS, following the official release of Scott Jovane. Sales also on Mediaset, despite the increase of subscribers of premium. The prudence of the Fed pushing up interest rates and the price of imports as the US showing further signs of deflation, weaken the dollar still trades at the end of the day down slightly against the euro: the European currency after peaking three weeks, changing hands at 1,365 on the greenback. The spread between BTP and German Bund goes below the threshold of 110 points, but the return on ten-year Italian remains stable at 1.68%. Wall Street closed slightly higher, with the Dow Jones gained 0.20% and the Nasdaq rising 0.41% while the S & amp; P500 is advancing 0.07%. Alcoa opened last night, the season of disappointing quarterly expectations.
Even in Asia has not stopped the wave of optimism of the last sessions. An alert on the new configuration of markets, after the bubble burst this summer, comes from Commerzbank analysts said the German bank, investors (who have sold shares for 5 thousand billion dollars during the fall in price lists) have actually moved China’s bond to the segment. But they may have chosen to leave a bubble to generate a new one. The symptoms are the same as that anticipated the collapse of the shares: the highest valuations, trading positions built on huge debt leverage and industrial profits shrinking. Anyway, today is the record of another day of recovery: Shanghai has risen 1.27%, Hong Kong has gained 0.46%. The Tokyo Stock Exchange has closed a session particularly active rising: is back in positive range, after the drop yesterday, the optimism in the wake of Wall Street. The Nikkei index of leading securities ended the session gaining 1.6% (+297.50 points) to 18,438.67 points. Overall, gained 4.03% in the week.
The findings tell of a macroeconomic recovery of French industrial production , which rose 1.6% in August . Setback, however, for Italy with a -0.5% monthly in August. According to Confindustria, however, in September there was an increase of 0.9%. Also in September, the US, import prices fell 0.1%, outperforming the expectations that were for a 0.5% decline. Wholesale inventories in August marked a rise of 0.1% from the previous month, when it had dropped by 0.3% (revised from -0.1%). G20 Lima it’s support to the OECD plan on tax evasion, which Pier Carlo Padoan welcomed as a milestone. ECB President, Mario dragons , an intervention in the proposed meeting of the IMF in Lima reiterated that the European Central Bank is always ready to expand the plan purchase of securities.
The price of the oil has picked up again, on the wings of a double expectation: a strengthening of global demand and a drop in US production. In New York it is trading at $ 50 a barrel in the area in the closing of European markets. Gold Up: when in Europe the completion of their exchange, the spot metal rises to $ 1,160 per ounce (+ 1.5%).
No comments:
Post a Comment