Profit taking zavoranno stock markets after the rally – The Republic

Milan – Hours 11. The day after the rally triggered by the rise in interest rates decided by the Federal Reserve, the markets of the Old Continent return profit taking. Also conditioned by sitting in red on Wall Street. Wednesday evening Fed President Janet Yellen, reassured about the state of the American economy, not foreseeing risks of recession explaining want to proceed with a gradual increase in interest rates at this point the next moves are expected in March, but the Analysts are convinced that next year there will be four rise that will bring the cost of borrowing to 1.5%.

The ECB, meanwhile, took a more cautious reassurance on the will and the capacity to act with any instrument in support of inflation, in its monthly bulletin, the Eurotower has highlighted that there are still risks to growth. Risks that are mainly associated with geopolitical and uncertainty regarding the global economy, can still affect growth, export demand and confidence. Today the macroeconomic agenda is quite low, so investors seek above all to monetize the gains of recent sessions.

On the other hand, after the euphoria post Fed, investors come back to deal with a day of technical deadlines: in fact, today is Friday of ‘Charmed’, also expire at the Milan options the last quarter and the last month of futures and indexes. Day triple witches on Wall Street, the last of 2015.

In Milan Milan stock yields 0.4%, London 0.1%, while Paris backs 0.6% and Frankfurt 0.7%. The euro takes a breath, while the yen is growing as a result of the move of the Japanese central bank to extend asset purchases also to ETFs maintaining the expansion of the monetary base. The single European currency is traded at 1.0859 as well (+ 0.3%) against the dollar and yields 0.2% to 132.2 against the yen which marks a growth of 0.5% to 121.9 against the greenback. The spread is stable at 100 basis points with the area that make the BTP 1.68%.

Last session settimananegativa, this morning, for the Asian markets and the Pacific, with decidedly Tokyo weak (Nikkei -1.9%) after the decision of the Central Bank which strengthened the yen and held back the Japanese equity market. Closed sharply down last night for Wall Street with the Dow Jones down 1.43%, the Nasdaq 1.34% and the S & amp; P 500 1.5%.

In terms of raw materials, the price of oil remains below the threshold of $ 35 on the market, going to close the third week in decline. Crude WTI Texas gives 12 cents to $ 34.83 swings around the lows of the last seven years, hit by the rise in the US Fed rate and the increase in stocks. Brent also lost ground, giving up 7 cents to $ 37.13. Weak even gold: the metal for immediate delivery marks a decline of 0.4% to $ 1,054 an ounce.