Brexit and growth are scary but the markets are at the highest, weak Mps and Tenaris – The Republic

MILAN – Hours 12.05. On the one hand the fears about global economic slowdown, fueled by referendum on Brexit in the first place – which also led the IMF to cut growth estimates – and the evolution of policy in Turkey. Across the quarterly of the companies that are on the whole doing better than expected, with the markets that take place and, hoping for an additional monetary easing by central banks, dealing at the highest levels (returning to worry about someone to these excesses of euphoria not justified). No good, however, the title Mps that after a rapid ascent with the plus sign has been suspended after slipping down by more than 3%.
And Tenaris wearing the black jersey Ftse Mib index of the Milan Stock Exchange, where it shows a decrease of more than 3 percentage points to 12,18 euro, in the wake of the rejection came this morning from Goldman Sachs. Member of the US banking giant analysts have cut the judgment of Tenaris to neutral from buy earlier.

In Asia, however, the costs are at the peak of three months now, and Wall Street has updated several times its records. The race for global equities, in the three weeks after the British referendum shocks, allowed the lists to add more than 4,500 billion dollars with the highest assessments for eleven months. For this reason, they say in the operating rooms, the latest sessions were characterized by some profit taking, waiting to find new ideas to repel top quotes.

In Europe the situation is less effervescent, accomplices fears over banks’ holding and the awareness that Brexit present his greater account right here. Today the price lists of the Old Continent treat slightly higher, although volatility remains high: Milan 0.3% salt with banks rapidly changing color, Frankfurt adds 0.7%, London 0.4% and Paris 0.6%.

The purge that Erdogan is leading in Turkey has rejected shadows on the political and economic future of the country. After a bounce on Monday, the lira is back to lose ground to 3.0623 against the dollar and touching the minimum ever touched last September before rising slightly. Since Friday evening, the central bank has meanwhile cut the benchmark lending rate overnight, while Moody’s threatens downgrade of turkish rating to “junk” broke the coup attempt then failed the Turkish currency has lost 5%:. Euro in a stable start-up of markets: the single currency against the dollar share 1.1013, virtually unchanged (-0.03%). At the opening of trading on the spread between BTP and German Bund remains above 120 basis points it is 126 points and the yield is 1.23%.

L ‘performance of the Turkish lira against the dollar: the currency is close to the minimum flow rate ever after the coup and the brutal reaction of Erdogan. They serve more than 3 to buy 1 dollar

The macro agenda focuses on the confidence of post-Brexit European consumers, while the index of producer prices in Germany in June has registered an increase of 0.4% on the month and down 2.2% on year. Of note is the employment rate and wages in Britain. The focus will shift towards the ECB tomorrow Mario Draghi , which is not expected to change monetary policy; However you look at the press conference of the Governor and the information which will give to dampen the fears arising from the instability linked to the choice of the UK.

In the morning, the Tokyo Stock Exchange It closed weaker after updating from six-week highs: to weigh the profit taking and signs in chiaroscuro the new season of quarterly. The Nikkei index has registered a fall of 0.28%, down by 47 points to 16.675.80 share. The Nintendo shares have fallen by 16% after reporting that the launch of the popular app Pokemon Go may be postponed in the Japanese market. The title yesterday had doubled its market capitalization from the app release in other countries, on 6 July. Positive Hong Kong (+ 0.75%), contrasted the Chinese indices ( Shanghai 0.31% and Shenzhen + 0.11% ).

Closing countered, yesterday, for the Stock Exchange Wall Street with the Dow Jones index touching a new record and closes in progress by 0.14% to 18,559 points . The Nasdaq marks a 0.38% decline in 5036, while the S & amp index; P 500 yields 0.14% at 2.63,78 points.

As for the raw materials, the price of oil stands on the threshold of $ 45 a barrel. Crude WTI Texas marks a slight rise to 44.79 after yesterday had lost 1.3%. Brent is trading at $ 46.79 a barrel. Gold : smooth: the metal for immediate delivery is trading at $ 1,331.9 an ounce as investors try to understand the future world economy in the light of the latest IMF forecasts.