Milan – 12:30. The price of oil goes back from the lows for almost seven years, but European stocks fail to realize the rebound that was proposed in the first minutes of trading. Asian ones already treated in the wake of weak sales yesterday that had engulfed the Old Continent and the US lists. The framework thus remains very volatile, as are signs of weakness from China that portend a difficult recovery in demand for raw materials. It is not, in fact, only the crude to suffer this situation: all major commodities are in a long-term downtrend that is claiming victims among the mining giants.
Today, as mentioned, the oil creates a small upward with WTI futures recovering share $ 38 and those of Brent return to over $ 40. Milan Stock , yesterday the worst Bags EU, opened in positive territory but soon slips down 0.2%. Dynamic similar to the others: London moves back of 0.1%, Frankfurt 0.3% and Paris 0.2%.
On the macroeconomic front, there are a few ideas: l ‘ Chinese inflation has risen by 1.5% on year in November, slightly above expectations (+ 1.4%) and compared to 1.3% in October, while it remained unchanged on the month. In Germany , the trade balance recorded a surplus of 20.8 billion in October against a forecast of 20.1 billion. Exports fell 1.2% on-month and imports by 3.4%, according to seasonally adjusted data that certify the slowdown in economic activity outside Germany, probably related to the difficult phase of emerging markets. The OECD has determined that the area unemployment rate fell by 0.1 percentage points to 6.6% in October, 1.5 points below the peak of January 2013. In the USA this afternoon, expect the data on the wholesale inventories for the month of October, seen up 0.2%.
On the currency front, the yuan it has depreciated after the Chinese central bank cut the reference exchange rate of the Chinese currency (reducing by 0.1% the fluctuation band, to the lowest levels since August 2011), which was lowered to 6 share , 47 to the dollar. L ‘ € instead opens rising markets of the Old Continent and back above $ 1.09, driven by low risk appetite of investors. The European currency is changing hands at $ 1.093, the exchange rate against the yen to 134.1. The spread between ten-year BTPs and German Bunds stood at 98 basis points in early trading session. The yield on ten-year Italian bonds on the secondary market amounted to 1.56 percent. L ‘ Gold is rising in Asian markets at $ 1,078.69 an ounce, marking an increase of 0.4%.
Sitting negative today for Tokyo Stock Exchange , weighed down by the rise of the yen: the Nikkei has yielded 0.98%, to 19,301 points. Spot Shanghai and Seoul , Hong Kong has filed down 0.46%. Closing in red, yesterday, for the stock exchange Wall Street accomplice mentioned reduction on the price of oil. At the end of session, the Dow Jones sells 0.92% to 17,568 points, while the Nasdaq technology index flexes 0.07% to 5,098 points.
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