Milan – The price lists Chinese collapse in the first trading day of 2016, triggering a halt to trade when the CSI300 index marked a nosedive of seven percentage points. The cold shower strikes on European stocks, living the worst day of the inaugural year history: the Stoxx 600 index yields 2.6%, which is equivalent to 264 billion capitalization lost. Sales abundant on Tokyo and on Wall Street.
The most volatile markets in the world, the stock of Shanghai and Shenzhen , pay the risk aversion of investors worried about tensions in the Middle East, a new slowdown in the manufacturing industry and the fear for the imminent elimination of the ban to sell securities, imposed on major shareholders of listed companies during the financial crisis of last summer. Markets seem then to have wanted to “test” the new automatic locking system of trading, which should last up to 15 minutes: entered into force today, to stem the high market volatility. To explain the collapse is also falling to 48.2 index points in the manufacturing PMI in December from 48.6 in November (below 50 points it means that the economy is in contraction). The survey, conducted by interviewing the Markit purchasing managers of companies, confirms that the “drivers of the recovery have met obstacles and the economy is facing the risk of further weakening.”
The European markets did not that could follow the weakness recorded in the East, exacerbated by the negative data on the industry for more American and German inflation. At the end of a day in constant trouble, Milan marks a decline of 3.2%. Thus passes into the background the debut of Ferrari in Milan Stock Exchange, which also marks the separation of Maranello from Fca (whose title is adapting losing a third of the value). Finmeccanica also monitored, which has signed an agreement of 450 million with the Interior. Very bad the other squares in the Old Continent: Frankfurt gives 4.28%, a collapse not seen the crisis of China last summer, Paris 2.47% and London 2.39%. Trends in deep red to Wall Street : the closure of the EU markets, the Dow Jones lost 2.5% and goes below 17 thousand points, the S & amp; P500 recedes by 2.6% to breaking decrease the threshold of 2 thousand points and the Nasdaq withdraws more than 3 percentage points. At this rate, the US stocks will mark the worst performance since beginning of the year 1932. In the morning, already Tokyo Stock Exchange had posted net declines with the jolt of China: immediately opened down, then close with the Nikkei index losing 3.06%.
After an initial rise, the ‘ € closed down at just above $ 1.08. The single currency is changing hands at $ 1.0802 and 128.85 yen. Dollar down against the yen to 119.22. Smooth trend for the spread between ten-year BTPs and German bonds of the same duration: the yield falls to 97 basis points, with the return on ten-year Italian 1.53%, from ‘ 1.6% of the closing on Thursday.
On the European macroeconomic register indexes SMEs in the manufacturing sector : the euro zone rose in December to 53.2 points. Positive data of Italy, with the index (55.6 points), the highest since March 2011 and above expectations; progress in Germany, too, to 53.2 points, while France improved to 51.4 points. Negative indications came instead from the US: the ISM index, which measures changes in manufacturing in the United States, fell in December to 48.2, and the figure was below analysts’ expectations, betting on 49 (agenda markets). Disappointment from expenditure on construction, fell by 0.4% in November. Again in Europe, surprisingly it slowed the ‘ Inflation in Germany : in December the consumer price index recorded a 0.2% yoy (EU harmonized index) after + 0.3% the previous month.
The price of the oil has experienced another volatile day initially dealt rising, after Saudi Arabia cut its diplomatic relations with Iran, but in the afternoon on the American market has turned down and is back below the $ 37 a barrel. When ending the trading day in Europe, the ‘ Gold spot is rising by one percentage point and a half in the area $ 1,077 per ounce.
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