MILAN – Closing in the sprint for the European Bags with mini rebound in oil and dangerous despite the devaluation of the ruble that led to an unexpected intervention of the Central Bank of Russia, which has rates moved to the greatest extent since 1998, when in fact there was a default on the debt of Moscow. The Central Institute has decided to pick up the cost of borrowing from 10.5 to 17 percent, generating an immediate rebound of the uniform Russian but soon it is dispersed into the void. The ruble is back so to falter against the euro and the dollar, falling to 100 to the single currency and 80 on the greenback (changes in direct). Only on the final seat will stop the fall of the price of the oil : for the first time since July 2009, the WTI has slipped below 55 dollars a barrel before climbing back into the box 57 dollars, while Brent under $ 59, only to regain altitude $ 60 (prices).
The Central Bank of Moscow, which has already spent 80 billion of reserves in an attempt to defend the ruble, with the sixth rate hike from March to today also hopes to curb inflation. But according to analysts, the Russian economy will not be able to sustain this level of long rates, because they are already heavily affected by Western sanctions that followed the war in Ukraine, as well as by the decline in the value of the oil and the massive flight capital, more than 100 billion dollars. “ This move symbolizes yield “ the attempt to support” economic growth in the name of preserving the financial system “ says Bloomberg the manager Ian Hague . In any case, “ is the right move to do, and it was not easy to do it “ .
In this climate of instability, European stocks live a day coaster with a steep fall in mid-session before recording with a closing sprint on the Milan Stock excuse. A condizionari the ups and downs in the morning were the negative data from France and Germany; the improvement of SMEs Eurozone and the positive indications ZEW index and now retreat. A Milan Stock , the FTSE MIB index closed up 3.27% after arriving to lose more than 1.3%. Wall Street joins the good mood triggered by the rebound of oil: the Dow Jones rises by 1.2% as the S & amp; P 500, while the Nasdaq advancing by 0.7%. Roller coaster even banks with MPS and BPM flying closing. Other titles tricolor Fca is well bought with thanks to + 3.7% of registrations in Europe in November, compared with 1.4% of the market. Flywheel also other European bourses: Frankfurt salt 2.39%, Paris of 2.12% and London 2.4%. The headlig hts are now fixed on the Federal Open Market Committee (FOMC), the arm of the Fed’s monetary policy that today begins the meeting which ends tomorrow. References are expected not only on the timing with which it could start to raise interest rates in 2015 but also the thud of oil.
As mentioned, coming from opposite directions weak macro on PMI manufacturing, services and composite Eurozone . In Germany , for example, the index dropped to 51.4 points in surprise, disappointing analysts’ expectations for a strengthening at 52.3 points. Weighs especially the service component. A value above 50 indicates an expansion of output, while a lower level of the PMI indicates an economic contraction. Even in France are not centered expectations, with the manufacturing PMI fell further to 47.9 points. Unlike Germany, however, the services allow you to index the Alps to climb to the highest in four months to 49.1 points. Some glimmer positive comes from the overall figure of euro zone , with the composite index in recovery to 51.7 points, the maximum of two months. Positive, back from Germany, the trend of ‘ ZEW index on the confidence in the economic climate: it stood at 34.9 points, from 11.5 the previous month, surpassing forecasts.
With this data in the background, the new president of the European Commission, Jean-Claude Juncker , is called the presentation of its plans for the relaunch. Meanwhile, the Italian trade balance in October marked a surplus rising to 5.397 billion and in the 10 months to 33.602 billion. In Britain, there is the slowdown in consumer prices in November: inflation fell on a monthly basis by 0.3% year on year while the increase was 1%. In the US, however, the manufacturing PMI slows to 53.7 points and despite being above the threshold 50 is at its lowest for 11 months now.
In the East, the manufacturing of China has slowed in December, according to provisional data released today by the Hong Kong and Shanghai Banking Corporation (HSBC). The PMI index will stabilize at 49.5, the lowest level since May, when he scored 49.4.
Male, in the morning, the Tokyo Stock Exchange : 48 hours before the elections Japanese Nikkei index ended in heavy loss to a minimum of six and a half weeks. Even the Japanese Square is pushed down by the collapse in oil prices, which for investors is a sign of a slowdown in global growth, which will have no effect on Japanese exports. In contrast, the yen and Japanese government bonds have risen in value because they are considered in the narrow lot of safe haven assets. Rises, the price of ‘ Gold , advancing by 2.5% to $ 1,221.40 an ounce. The Nikkei has yielded 2.01% and closed at 16,755.32 share. Overall, the index MSCI Asia Pacific is the minimum of two months. Speech opposite to Shanghai , which continues to grind record and closes on the maximum levels from April 2011.
Sitting rising for the ‘ € against the dollar: the European currency closed at $ 1.2510, after being flown to the maximum of three weeks at $ 1.2570. The dollar / yen down to 116.75, after hitting a low of 115.56 a month. The euro / yen stood at 146.01, after a low of 144.92. Well the Swiss franc rising up to 1.2002 on the euro. The spread between Bund and BTP is stable at 139 basis points, with the yield of ten-year Italian 1.99%.
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