Milan – Hours 11:35. The European markets are looking for the rebound after Monday’s weakness, which affected in particular the Milan Stock Exchange and its banks. Just the credit industry is in the spotlight of investors and end up in the throes of volatility on the price list in Milan, where it ranges between strong recoveries and sudden waves of sales. The outcome of these shocks is that – while the other Squares treat positively – clears the FTSE MIB gains of the opening.
From the China came the confirmation of an economic slowdown now underway several quarters; investors reacted – how often, paradoxically, happens – betting on the intervention of Beijing to give a boost to growth. The second largest economy in the world has released the final figure of 2015: last year, GDP rose by 6.9%, the lowest level since 1990, when international sanctions for the suppression of Tiananmen Square crushed the march of the Asian country. The figure, the veracity of which many observers express concern, however, is not far from the 7% specified by the Government. Lower than expected, however, was the industrial production in December, which grew ‘only’ 5.9%.
On the markets, the set of surveys has a positive effect. The Euro Stoxx 50, the basket of the old continent, marking the first rise in four sessions. Milan clicks Start, then resets the gains. Banks of Piazza Affari start on the right foot and the sector index squirts of 3.3%, only to suddenly turn red: MPS, Banco Popolare and B to be suspended in the volatility auction, soon followed by Unicredit, BPM and Ubi . Yesterday, the markets are closed, the six institutes have confirmed that the European Central Bank has sent them a questionnaire to investigate the level of loans on their balance sheets, as well as on policies for managing them. It is one of the ‘priority’ that the Eurotower has shown with regard to the activities of 2016, to which he devoted precisely a task force, and is extended to the whole of Europe. The news has however led investors to unload some shares, in view of the possible need for coverage of those loans to be unrecoverable with new demands of capital market. A worry is the voltage Rome-Brussels, together with delays in the launch of the ‘bad bank’ national. Ben more stable other European bourses: London rises 1.7%, Paris 2.1% and Frankfurt 1.8%.
Shanghai Stock Exchange has exceeded momentum (+ 3.2%) the growth figure, hoping as mentioned in sizes relaunch. In action, Frame rate to a report in Bloomberg, there were also the now famous by government funds, which would buy bonds to keep up the mood of the markets. Strong progress for the square of Shenzhen , with the index increasing by 3.57%. Closing a slight improvement for the Tokyo Stock Exchange , which reversed course in the second half of the session, after the Chinese data as expected: the Nikkei rises above 17 thousand points thanks to a positive balance of 0.5 %.
The front of the raw materials remains central, with attention focused on the performance of oil . Today the barrel marks a slight recovery, although prices remain below $ 30: WTI moved into the area and the Brent at $ 29.5 $ 29.1. The situation of crude oil puts pressure on the balance sheets of large oil companies: the French Total has launched a ‘profit warning’, an alarm on the financial results. He has in fact cut by 20% the expected profits for this year. For most of the ‘ International Energy Agency said that prices could fall again and revised slightly downward demand for 2016. Gold : smooth on Asian markets after the data on the growth of China. The metal for immediate delivery was trading at $ 1,088 an ounce with a rise of 0.1%.
‘ € is down slightly to $ 1.087 and 128.15 yen. The macroeconomic agenda includes interesting findings from the Germany , with the decline in the ZEW in January at an altitude of 10.2 from 16.1 in December, while inflation in December fell by 0.1 % monthly in December, while on an annual basis the increase was 0.3%. The average of 2015 is thus 0.3%, the lowest level since 2009. Prices are also at the center of the Eurostat surveys and constitute an important parameter for the activities of the ECB, which meets Thursday and is mandated to bring the ‘ inflation next to the + 2%: Eurozone prices in December rose by 0.2%. From the United States, however, expect the data on the housing market. The International Monetary Fund updated growth estimates, cutting global ones. Slightly down the spread between BTP and German Bund. The differential marks 108 with a yield of 1.56%.
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