MILAN – European stock markets leave behind the tensions in the credit segment and closed the week up toasting the anti recession plan launched yesterday by the Bank of England and the US employment report. Governor Mark Carney t agliato the cost of borrowing from 0.5% to a new low of 0.25% is the first scissors since 2009. Amplito that the economic stimulus program : the plan for the purchase of government bonds was increased from 375 to 435 billion pounds, also it will start buying up to 10 billion pounds of high-quality corporate debt and another, with a potential value of up to 100 billion pounds to guarantee bank lending as a result of the cut in interest rates. According to the BoE “the economic outlook has weakened significantly.”
The most important event of the day was concerned, however, the US employment report in July: well companies have created the stars and stripes many more jobs than expected, which signals a revival of the momentum of the labor market in the United States after the uncertainties of the previous months. In July, we were created 255,000 jobs while analysts expected an increase of 179,000 units. As reported by the Department of Labor, the unemployment rate remained at 4.9%, while analysts expected a figure down to 4.8%: in fact increased participation in the labor market. If the trend is confirmed in early September, the Fed could speed up the rate hike. According to the Fed Funds futures, used by investors to bet on the moves of the US Central Bank, the chances of a rate hike in September and December respectively 12% and 39%. Charles Evans , number one of the Chicago Fed, said that a rate hike might be appropriate this year, but they would prefer not to see anyone until inflation will not rise more vigorously.
Piazza Affari therefore closed the day with an increase of 2.4%, 0.79% London, Frankfurt and Paris 1.36% 1.49%. positive close for Wall Street with the Dow Jones index up 1.04% to 18,542.23 points and the Nasdaq gained 1.06% and touched a new record high at 5221.12 points. Also positive was the S & amp; P which closed at + 0.86% to 2182.85 points. Closing down for the euro against the dollar below 1.11 share. The single currency is changing hands at $ 1.1070 and gain strength against the Japanese currency to 112.77 yen. The dollar strengthened against the yen to 101.91. The spread between BTPs and Bunds has recently moved to 121 basis points. The yield is 1.14%. In France, meanwhile, the trade deficit deteriorated in the first half of 1.1 billion to 24 billion, weighed down by the manufacturing sector and the electric bill. In the six months, exports fell by 1.4% and imports by 1%. In Milan, even banks in the spotlight after Mediobanca has announced the interest to participate in the fund Atlas 2 and the recapitalization of Mps.
In the morning, the Tokyo Stock Exchange ended flat last session of the week, waiting by the indications on the US labor market: the Nikkei effort on 16.254.45 share, virtually unchanged compared to the end on Thursday. The yen meanwhile is stable against the dollar, at an altitude of 101. In terms of raw materials, gold is slightly higher with bullion for immediate delivery that is changing hands at $ 1361.15 per ounce (+ 0.2% ). stable oil: it is treated in $ 41.6 (-0.33%).
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