Milan – Hours 13:50. The second world economy continues to be a source of concern for investors: the data on manufacturing production in China showed a slowdown even in October, thus guiding downward market recovery. European stock markets are, however, improved in the day: the Eurozone manufacturing confirming the signs of recovery and Italy plays a leading role in this dynamic. Lifts in the equity market and the turkish lira: the affirmation of Recep Tayyip Erdogan in the elections that stability returns to the country which is almost always the result most appreciated by the markets as a result of an election, even more of the general and economic the winning party.
The European markets treat just above par after the data on the index of the manufacturing PMI main eurozone economies: the detection, built on the survey of purchasing managers of companies, anticipates the economic performance (the ‘agenda of the markets). In Italy, manufacturers have reported a good start of the fourth quarter with production and new orders growing at robust rates and accelerated. The PMI stood at 54.1 in October, the highest in three months and up from 52.7 in September. The index, remember the note, is now nine months at above the level of 50 points, which separates expansion and contraction economic. The Peninsula has been the driving force to the rest of Europe: it remains in positive territory the French index (50.6 points), but has remained unchanged over the previous month. Signs of a slowdown from Germany, with a slight drop from 52.3 to 52.1 points: analysts had expected a larger decline. Overall euro zone manufacturing index rose from 52 to 52.3 points. Even the United States expect the data on the sector, with the index ISM accompanying the trend of expenditure on housing in September.
Milan marks a rise of 0 , 5% after a boot in red, London remains weak at -0.4%, Frankfurt rises of 0.8% and Paris of 0.4%. The spread between BTP and German Bund is in the range of 110 basis points, with the yield on Italian ten-year 1.63%. Of note, on the international front, the positive accounts of HSBC , which closed the third quarter with profit before tax up 32% from the same period a year ago to $ 6.1 billion . Always under observation, at the Milan Stock, Telecom: Chairman Giuseppe Recchi for the entry of Xavier Niel is “friendly”. Fca faint in the day of publication of data on registrations of October. Eni also evil, rejected by analysts at Morgan Stanley, while Snam benefits of a positive assessment of Mediobanca.
The change between euro and dollar is roughly stable, with the currency of the Old continent that is trading at 1,101 banknotes green. The Turkish lira instead recorded a sharp rise after the Sunday victory in the legislative elections of the president’s party Islamic-conservative, Erdogan : in the morning, Turkey’s currency has risen more than 4% and it was trading at 2.78 to the dollar and 3.07 per euro. The affirmation of the AKP party has sent in the rally also Istanbul Stock Exchange , which deals with an increase of more than five percentage points.
In the morning, the Nikkei index of Tokyo Stock Exchange , closed sharply lower, after three positive sessions, weighed by Chinese data: by close of trade, the Nikkei index of 225 leading stocks had lost 2.1%, amounting to 399 , 86 points, and closed at 18,683.24. The PMI manufacturing of the Rising Sun has risen in October to 52.4, from 51 in September, registering the highest reading since October 2014, mainly driven by new orders. But to weigh on Asian trade, as mentioned, was quite the ‘ Manufacturing activity in China , which continued its strong contraction in October, albeit at a less pronounced pace of previous months. The PMI index measured by the barometer Caixin-Markit was established in October to 48.3 from 47.2 in September and 47.3 in August which were the minimum for 6 years. Closing in sharp decline for the main squares of the Asian giant: Shanghai lost 1.7%, Shenzhen has sold 2.09%.
Performance opposed to quotations oil , with Brent at + 0.14% to $ 49.63 per barrel, and WTI going down of -0.39% to $ 46.41 a barrel. Always for raw materials, Gold falling Asian markets: bullion for immediate delivery was trading at $ 1,134.3 an ounce.
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