MILAN – The markets choose carefully in a day filled with political events and macroeconomic data. Everyone’s attention goes to Riga, where part of the two-day EU summit which among other things focuses on the problem of the Greece . The hawk Wolfgang Schaeuble has guaranteed that this issue will be the focus of the Athenian G7 finance 27 to 29 May. Dresden In recent days representatives of the Government of Syiriza have ostentatious optimism about reaching a deal: in exchange for the reforms from 7.2 billion tranche of international aid. Tsipras and Varoufakis, Greek Prime Minister and Minister of Finance, also passed the message that no money will not be honored on June 5th installment of the repayment to the IMF. A way to put pressure counterparties and probably spend even on the domestic front the opportunity to submit to a referendum any agreement deemed ‘hard’ against Athens.
The Greek banks arrive at this crucial point with yet another line of credit by the ECB, which would raise about 200 million endowment fund emergency liquidity to the credit system of the Peninsula. INTM weighs however predicting Moody’s, according to which the outflow of deposits and the tension strut make inevitable some form of control of the savings to the banks.
European shares close weaker: Milan yields 0.14%, while Frankfurt rises 0.14%, Paris 0.26% and London 0.09%. A Wall Street , the lists are strengthened slightly: when in Europe ending the trading day, the Dow Jones rises by 0.1%, the S & amp; P 500 added 0.2% and the Nasdaq 0, 4%. A Piazza Affari has looked at Telecom, which announced the price up to 40% of Inwit, now towers for communications. All eyes are also on MPS, after recent heavy sessions: the Consob has given the green light to the increase by 3 billion, will start on May 25. Opposite trend for the Cup finalists Italy: Juventus won salt, falls Lazio defeat. L ‘ € closed up slightly at $ 1.1126 in the wake of the minutes of the Federal Reserve, whose directors considered “unlikely” a rate hike in June. Stable yen, at an altitude of 134.72 euro and 121.11 against the dollar. Stable the spread between BTP and German Bund area in 120 points; the ten-year Italian bond yield is 1.84%.
Particularly dense the macroeconomic agenda, starting with the number of indexes SMEs manufacturing, services and composite. The overall index of the Eurozone in May slows but remains over 53 share points: amounted to 53.4 points against 53.9 points in April. Services recede to 53.3 points against 54.1 points in April, while manufacturing advances from 52 to 52.3 points. The data of the France are positive: the index of manufacturing Markik on sale in May to 49.3 points, compared with 48 in April (but remains below 50 points, which separate economic contraction and expansion). Recovering also the composite indicator, from 50.6 to 51 points. Cala instead Germany: bad manufacturing, with the PMI to 51.4 points from 52.1 in April: is the minimum of three months. Falls, adding manufacturing and services, including the preliminary reading of the index PMI composite of May, slipping to 52.8 points from 54.1 in April and reaching a new low of five months. These are surveys that anticipate the economic cycle by collecting impressions of the purchasing managers of companies. In Italy, Istat noted that negotiated wages in April rose by 0.2%. In the Eurozone, in May, the consumer confidence was down 0.9 points do share dropping to -5.5 compared to April. In the EU fell by 1.8 points to -4 share.
Flurry of data even in the USA : the weekly jobless claims to May 16 rose by 10 thousand units to 274mila, requests continuing to 9 May fell by 12 thousand to 2.211 million, reaching the lowest level since 11 November 2000. The Chicago Fed index improved in April to -0.15 points from -0.36 points in March. The index of purchasing managers in the manufacturing sector fell to 53.8 points in May from 54.2 in April, below expectations, disappointed even from -3.3% of sales of existing homes. Higher than expected, however, the superindex of April to 0.7%.
The first indications of the day came from the China , where manufacturing activities in May recorded the the third consecutive monthly decline. The index pmi HSBC / Markit rose from 48.9 to 49.1 points, compared to the expected 49.3 points. Below 50 points the index indicates a contraction of the economy, and on expansion. Also in the East, but this time in Japan , the PMI manufacturing index rose in May, in the preliminary reading, to 50.9 points from 49.9 points in the previous survey and compared with a forecast of 50 , 3 points. Indications negative for the Japanese economy, however, the activities of the industrial sector, which dropped to a faster pace than expected in March. Data from the Ministry of Economy say that the index of all the activities of the industrial sector fell by 1.3% month-on-month in March, reversing the 0.2% rise recorded in the previous month, marking the first decline in nine months. On the basis of these conflicting data, the Tokyo Stock Exchange closed flat with the Nikkei index at the end of the day surged 0.02% to 20,199.83 points.
Finally, with regard to raw materials, the prices of oil are slightly higher: when in Europe closed the trading day, the WTI rises of 2.3% above $ 60 per barrel, the Brent is hoisted over quota 66 dollars. L ‘ Gold instead stabilizes around $ 1,205 an ounce.
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