MILAN – The markets cling to Mario Draghi. The bags, after being moved slightly downward with the ECB’s decision to leave unchanged the cost of borrowing, have closed countered. Milan rose by 0.4%, Frankfurt 0.14%, while London has yielded 0.45% and Paris 0.2%. down close for Wall Street: the Dow Jones lost 0.63% to 17,982.52 points, the Nasdaq yields 0.05% to 4,945.89 points, the S & amp; P lost 0.52% to 2091.48 points.
Draghi, who has taken no further move after the expansion of quantitative easing to 80 billion a month, and the cut on the rates decided in March, in his speech reiterated that monetary policy will remain accommodative through 2017 and in addition, but argued that the ECB is not enough to solve the problems of stagnation. The number one Eurotower defends the autonomy of the central bank, especially after the attack of the German Finance Minister, Wolfgang Schaeuble, who blamed the expansionary monetary policy of electoral success in Germany of the anti euro Alde right. Fueling the controversy is the idea of ”helicopter money” that was circulated in recent weeks. Basically, some believe, the central banks should step over the banks and put fresh money directly into the pockets of citizens, to boost demand and prices. “Absurd hypothesis” for the German Governor Jens Weidmann and Draghi, today, denied the possibility.
The euro closed steady at $ 1.1294 after a surge up to a maximum of $ 1.1394 during the press conference of the ECB President. Yen up slightly in line with the increased aversion to risk by investors. The Japanese currency advances at an altitude of 123,68 to 109,51 euro and the dollar. Stable, the spread between ten-year BTPs and German counterparts to 123 points, after closing at an altitude of 124 with a 1.42% yield, but on the face of government the focus is on tomorrow’s headlines Eurogroup on Greece. On the macroeconomic front, Eurostat records that the average of the 19 countries of the Eurozone deficit in 2015 fell to 2.1% for the sixth consecutive year, continuing the downward trend. After three months in decline, rises again in April, the European data on consumer confidence: the first “flash” estimate shows an increase of 0.5 points to -6.8 in the EU-28 countries and 0.4 points -9.3 in the eurozone.
at the end of the EU Bags, Wall Street remains weak with the Dow Jones down 0.2%, the S & amp; P 500 yields 0.15%, while the Nasdaq is on par. Stand out US data on unemployment , appeared better than expected. The number of workers for the first time have applied for unemployment benefits in the US fell last week to a minimum in 43 years, that is from 24 November 1973. This figure confirms the gradual improvement of the US labor market. As reported by the Department of Labor, in the week ended April 16, initial claims for unemployment benefits fell by 6,000 units to 247,000. The figure amounted on average to below 300,000 by 59 weeks, an important threshold that signals the good condition of employment and the best series since 1973. Analysts expected a figure rising to 264,000 units, from 253,000 the previous week. The average of four weeks, more reliable because not subject to market fluctuations, fell by 4,500 to 260,500. The figure is below the average of 2015, equal to about 278,000 units. The total number of workers who receive unemployment benefits for more than one week “on the week ending April 9, the latest for which data is available” dropped by 39,000 units to 2,137,000.
Meanwhile, the price of oil – which are always correlated equity markets – stabilizes its consolidation with WTI above $ 44 fee. The price of crude oil went into the rally following the data of the Washington Department of Energy, which has certified a new drop in US production and an increase in inventories lower than expected. Iraq also asked the producer countries to meet again in May, after the failure of Doha, to agree on a price freeze. On Asian markets, Light crude futures give a cent to $ 44.17, after a top at $ 44.41 and Brent advanced one cent to $ 45.81, after a maximum of $ 46.03. The meeting could be held in Russia in May, while June 2 on the agenda is an OPEC summit in Vienna.
In the morning, the Tokyo Stock Exchange closed sharply higher on wake of crude. The Nikkei index ended the trading day with a rise of 2.70% to 17,363.62 points. Rising also Topix, which closed at + 2.04% to 1393.68 points. Collapses again, however, Mitsubishi, after the dieselgate scandal: the title he lost on the Japanese list 20%.
And, yesterday, again thanks to oil on new highs in 2016, the American stock has done the same. The Dow Jones and the S & amp; P 500 have been consolidated above the psychological threshold of 18 thousand and 2,100 points. By sector, the financial sector (+ 0.77%) and energy (+ 0.9%) have run the most.
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