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This article was published on November 20, 2015 at 09:10.
The last change is the November 20, 2015 at 11:05.
Performance weakness for European equity markets, on a day-conditioning once the possible moves of central banks on interest rates, with many bankers ECB and Fed (beginning with Mario Draghi) engaged in public appearances. By mid-morning the FTSE Mib yields 0.9%, negative the other lists of the Old Continent remain the starting levels (follow indexes live). Previously Tokyo finished close to the values of Eve (-0.1%). Little blur the BTP-Bund spread at 101 basis points, with the return on ten-year Italian 1.49%. The euro remains weak little under $ 1.07 (euro / dollar rate and currency converter).
Flurry of activities between Frankfurt and Washington
Pending appointments crucial December (the day 3 for the ECB, on 15 and 16 for the Fed) rhetoric used by central bankers it is being followed more closely for clues useful to future rate moves. After the release of the minutes of the last Council of the ECB (yesterday) morning at the European Banking Congress in Frankfurt in 2015 are predicted from the 9 interventions Dragons, Peter Praet, Benoit Coeuré and Vice President Vitor Constancio. Also expected the speeches of German banker Jens Weidmann and Finance Minister Wolfgang Schaeuble. Use side will speak in the afternoon the President of the St. Louis Fed, James Bullard and the president of the New York Fed, William Dudley.
Dragons, “we will need to increase inflation as soon as possible.”
Draghi for the time reiterated the concepts of recent days, explaining that the ECB ” It will do what is necessary to increase inflation as quickly as possible “and naming possible means, including the adjustment of the level of repurchases of government securities (PSPP) and the level of interest rates on deposits. The euro, already weakened after data on producer prices in Germany (-2.3% in October), has further lost ground immediately after the words of the president of the ECB. The yield on German government bonds to two years (Schatz) has updated the lows at -0.39%.
Focus Square Business
The list Milan Meanwhile, there is a weak trend especially for banks (Banco Popolare and Unicredit in particular). Eni also down (-0.8%), which has concluded the sale of its stake in Galp (4%) to 325 million euro.
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