MILAN – The concern about the situation in Greece continues to be reflected in European markets, which have also started the week after bouncing a Friday sales. That volatility is the highest is demonstrated by the fact that the VSTOXX Index, which measures the expectation of mood swings of the price lists of the Old Continent, has risen by 43% last week and stretches 1.8 times above its equivalent calculated Use on: scissors so wide you could not see the end of 2002. Time is running under the Parthenon, and the government of Syiriza decided to centralize liquidity of local authorities and public administrations in the hands of the Treasury. A seizure that has few precedents and that should bring 2.5 or 3 billion in Athens, to meet month-end payments (salaries and pensions) and represent a bearing guarantee of reimbursement billionaire that Greece owes to the IMF first half of May.
The situation therefore remains tense, with titles in three years that make more than 28% and the banks suspended from the emergency liquidity provided by the ECB. Just all’Eurotower, it seems that patience is running out: Bloomberg reports of the possibility that cuts the amount of money paid by the ECB, via the Central Bank of Athens, local institutions (the program is Ela reached 74 billion euro), against collateral dowry by banks. One way to hold off the members of the Board of Frankfurt prancing to block aid to the Mediterranean country. Attention runs meanwhile the conference call tomorrow between the finance ministers of the Eurozone and therefore the Riga Summit, Friday, where he will hopefully get progress. The EU Commission President, Jean Claude Juncker, said today in Politico : “We are ready for any event, but exclude 100% a ‘Grexit’.” Cut off the default, Juncker, however, urged “clarity” in Athens that “does not cooperate as we would like.”
On the rates, the ‘ Euribor 3 month drops below zero for the first time. And ‘the rate that banks charge each other for loans quarterly and which is taken as a reference to index mortgages, fell to -0.001%, according to data reported by the European Money Markets Institute, as a result of quantitative easing Bce.Tra macro data, attention is catalyzed ZEW index on German business confidence: disappoints at 53.3 points, falling below expectations. Meanwhile, Eurostat records that in 2014 the deficit / GDP in the euro area (they are taken into account the current 19 member states for comparative reasons) fell from 2.9% in 2013 to 2.14%; in the EU from 3.2% to 2.9%. In Italy, Istat certifies 3% in 2014 with a primary surplus of 1.6% of GDP. Day download in the US, where he continued the publication of quarterly results. It ‘been revised down the most important index for the Japan , which measures future economic activity in February. The data indicate the end of the Cabinet Office: fell to 104.8 in February, revised from the preliminary estimate of 105.3. In January, the score was revised to 105.0.
After the publication of the German data, the markets are slowing down: Milan Stock closed down 0.26%. The spread between BTP and the German Bund is a slight decrease in area 135 points, with a yield of 1.46% for the ten-year Italian. The euro close share above $ 1.07. The European currency is changing hands at $ 1.0754, after hitting a low of $ 1.0658 per seat to fears of a default greek. Take better lists in the rest of Europe: London salt of 0.15%, while Paris recovers 0.1% and Frankfurt the 0.4%. Athens lost 3.3%.
Accomplice Europe, Wall Street hard to confirm the rise of the evening before yesterday New York has filed the best seat for three weeks, accomplices stimuli announced last Sunday by the Central Bank of China. The institute has cut by 1% – up from December 2008 – the amount of money that banks must have as reserves. To support the optimism there are also quarterly Use: of the 59 companies listed on the S & amp; P 500 which last week published the accounts, 75% has centered earnings estimates, more than the average of 70% seen last year in same period. Only 45%, however, exceeded expectations in terms of sales compared to 58% in early 2014. However, today, while closing the markets of the Old Continent, the Dow Jones yields 0.3%, while the ‘ S & amp; P 500 is unchanged and the Nasdaq advancing 0.5%.
In the morning there was the first rise in stock markets Asia and the Pacific after three sessions in decline. The strengthening of the dollar in the various currencies Oriental was good for Tokyo (+ 1.4%) and Sidney (+ 0.67%) and especially Hong Kong (+ 1.84%). Lastly, with regard to raw materials, prices down slightly for the oil : Brent travels at -0.14% to $ 63.36 per barrel, WTI at -0.17% to 57.78 dollars per barrel. L ‘ Gold is falling below $ 1,200 an ounce to $ 1,192.29 yielding 0.3%.
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