MILAN – The German economy centered expectations and reassures markets and put up yesterday from the words of the President of Buba and member of the ECB, Jens Weidmann , in response to Mario Draghi . Last Friday, the President of the Italian Central Bank had reaffirmed its resolve to intervene “by any means” to ward off deflation: a clear stance that analysts have starring with the upcoming launch of a quantitative easing , the purchase of securities also state markets. What’s more, according to experts of Credit Suisse’s words Draghi open to an intervention already before Christmas. Hypothesis that, however, the number one of the Bundesbank immediately braked. For Weidmann, theoretical rigor and leader among the hawks in the eurozone, “there are no major legal obstacles to the purchase of government bonds by the ECB” for that “governments should focus more on growth.” The assist to Draghi arrives instead OECD that does not hide the risk of deflation and calls for more efforts to support growth.
In a scenario of tensions within the ‘ Eurotower came with some relief data on GDP German and US on the third quarter, the economy grew by 0.1% in the third quarter and 1.2% compared to the same period last year. The numbers confirm, therefore, preliminary estimates and conjure the risk of “technical recession” for the first economy of the Old Continent. In the same period the American domestic product marked an increase of 3.9%, which revised up from 3.5% in the first estimate. The figure is better than the forecasts of analysts, who expected an increase of 3.3%. The final estimate will arrive next month. In the second quarter, GDP grew by 4.6%, after a contraction of 2.1% in the first quarter. Throughout 2012, the growth was 2.2%. Fall, however, the data on consumer confidence and manufacturing index.
Positive data also come from the France where to November improves business confidence: according to Insee, the index to 99 points from 98 October. It should be noted however the continued consumer crisis in Italy, with the retail trade fell in September.
The markets fear that the data on the American economy now push the Fed to accelerate the rise in interest rates and so, after arriving to gain more than 1%, in Milan Milan Stock retraces up to close to + 0.42%. Positive but without tearing the other European markets: London gained 0.02%, Frankfurt adds 0.77% and Paris 0 , 32%. Weak Wall Street : at the close of the European markets, the Dow Jones gives 0.1%, the Nasdaq is unchanged, while the S & amp; P500 moves back by 0.2%. Record tirelessly to Apple : now the iPhone has exceeded $ 700 billion in value, 70% more than Exxon that stops just above 400 billion.
spread – Unlike premium required by the market to buy BTP instead of German bunds – is stable to below 140 basis points, while the ten-year bonds on the secondary market make the second, 14%, a new record low. L ‘ € closed up above $ 1.24, for the descent of the greenback after the decline in US consumer confidence in November. The European currency is changing hands at $ 1.2465, after having fluctuated between 1.24 and $ 1.2479.
In the morning Tokyo , which yesterday was closed for Labor Day, filed the seat rising 0.29% to 17407.62 points. In terms of raw materials, with the weakening of the stock market in New York ‘s Gold resumes share going up by 0.3% to $ 1,198.80 an ounce. The oil in January rises by 0.75% to $ 76.35 per barrel. Investors are wondering if the OPEC meeting on Thursday, we can conclude with a significant production cut, or win the contrasts between the members of the cartel (raw materials).
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