Milan – 16:15. The European markets dealing in recovery, after the slip Eve and following the unexpected move by the Japanese governor Haruhiko Kuroda . Across the Pacific, the United States, the economic recovery has meanwhile slowed a bit ‘more than expected, increasing the expectation towards lenient by the Federal Reserve.
A surprise today was the Bank colleague of Japan (BoJ), the Bank of Japan, which has decided to bring in negative interest rates applied to the cash held by banks at the central bank, in excess of that regulation: the rate drops so -0.1 % to + 0.1%. The great part of the deposits, in any event, will remain remunerated or at least to zero rate. To respond to the economic weakness of Japan and the absence of inflation, then, he assured that it will cut the cost of money further, if necessary. The move – which follows what was done by Mario Draghi in Europe and gives new substance to the possibility that the ECB will put in place further stimulus measures in the coming weeks – did fly the Tokyo Stock Exchange.
The big star of the day was the ‘ Nikkei in a roller-coaster day, as the chart shows. Eventually it closed up 2.8%, dragging the other Asian Squares: Shanghai and Shenzhen , in China, have gained more than 3% and Hong Kong was up 2.54%. The move has sharply devalued the yen, which was carried into in 121 against the dollar. The European markets exploit towing Asia and the repositioning of investors, who can buy at prices of balance: Milan rose by 2.4%, Frankfurt adds 1 , 4%, London 1.9% and Paris 1.6%. The banking sector is among the best of the Milan Stock Exchange, together with TLC. To push the titles of credit there are plans to merge the institutions: BPM and Banco Popular are getting closer and closer to the wedding. MPS does not start in price and when it enters into negotiations is up sharply, only to turn back to red. Change euro-dollar stabilizes at 1.09 area. The trend roller-coaster in the last three days of the Tokyo Stock Exchange. We note especially the volatility of the last session, the announcement by the BoJ’s decision to bring in negative interest rates on excess reserves of financial institutions. Eventually the Nikkei gained 2.8%
Wall Street is rising with the Dow Jones rising by 1.2% and the Nasdaq recovering to 0.9%. The American GDP has slowed in the last quarter of 2015 growing by 0.7%, against 0.8% expected by analysts. The engine of the recovery has slowed tours, whereas in the third quarter had surged 2%, as recognized Wednesday by the Fed at the end of its meeting, the US central bank said it is monitoring the global economic and financial developments to assess that They may have impact on the first economy in the world. This leads one to think that the approach of the Fed on rates will be especially gradual. On the whole of 2015, GDP rose by 2.4% as in 2014.
As mentioned, the decision of the BoJ has come together to macroeconomic: the Japanese GDP will grow 1.5% in fiscal 2015, with inflation at 0.1%. Growth will remain at 1.5% in 2016, to slow in 2017 to 0.3%. “The risks are to the downside and include those of economies overseas.” Meanwhile, in December, the unemployment rate remained stable at 3.3% in 2015 and amounted on average to 3.1%, two points less than in 2014. Inflation, however, has stagnated at 0, 1% in the last month of the year and industrial production marked a fragile -1.4%. Europe stands out GDP of France , which marks a 0.3% economic in the fourth quarter of 2015 and a 1.3% annual: throughout 2015, the average growth was 1 , 1%, the strongest in four years. Dive, however, inflation Alps in January: the preliminary estimate is for a 1% monthly. Still, in Spain is the estimate of a GDP growth of 3.2% in 2015. Unexpected, however, the contraction of the Retail sales in Germany : -0, 2% monthly in December against estimates for a 0.4%. In January, according to estimates by Eurostat prices have risen by 0.4%, an increase compared to December 2015 (0.2%).
Again in US, consumer confidence measured by the University of Michigan fell in late January to 92 points from 93.3 the previous month. The figure is lower than the estimates of analysts who had expected a more modest decline at 93 points. The Chicago PMI index jumped to 55.6 points in January from 42.89 in the previous month, more than the threshold of 50 that indicates a phase of growth of economic activities.
Oil confirmed above $ 33: the electronic circuit the Light crude futures WTI rose by 7 cents to $ 33.29, after a top of $ 34.13, while Brent futures retreat from 2 cents to 33, $ 87, after a maximum of $ 34.84. Yesterday, crude ended coaster for the rumors and denials of a possible agreement between Russia and Saudi Arabia to assess the production cut. The surprise decision by the BoJ caused a crush of the price of ‘ Gold on the Asian markets and then restabilize. The metal for immediate delivery fee now $ 1,115 an ounce after selling nearly 1%. Little blur the spread between BTP and German Bund: stood at 108 basis points, but the yield on Italian ten-year bonds down to 1.42% from 1.50% the day before.
No comments:
Post a Comment