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This article was published on February 8, 2016 at 09:06 hours.
the last change is the February 8, 2016 at 11:53.
the European stock markets open in upward and try to get behind the latest difficult sessions. But not last long. As so often in recent sessions it comes to mini-rebounds, no energy. After half an hour in fact, sales are divided. Milan Stock now down 1.5%. The FTSE MIB veteran of six consecutive weeks of decline leads to more than 20% since the beginning of the taxable year, and is approaching the 23% of Shanghai today, as well as for many other Asian markets, is closed (and will remain so until February 12) for the lunar new year holidays.
High voltage for the Stock Exchange of Athens because of the uncertainties for keeping the government led by Alexis Tsipras at the center of protests and street demonstrations for the pension reform. The main index of the Athens Stock Exchange gives 6%, bringing the budget for the year to -22%. The announcement of the pension reform in January by Tsipras foresees the reduction to 2300 euro monthly maximum amount (from 2700) and a minimum of 384 Euros. The measures are part of the plan requested by the troika (EU, IMF and ECB) in exchange for the new plan of aid by 86 billion euro traded in July.
Fall banks in Europe but sales affect the price lists across the board.
The Tokyo Stock Exchange closed up by 1.1% reversing the route (was losing 3 %) after the publication of data on the current account in December showed that in Japan a surplus of 960,7 billion yen, spurred by a trade surplus return. The figure is still below the expectations of economists, who were expecting a surplus of 987.0000000000.
On the bond market, the spread between BTPs and Bund jumped over 130 points. Are sold peripheral signal that investors at this stage prefer to take refuge in the Bund is back under 0.3% (Eurozone bond yields). On peripheral bonds uncertainties weigh on the banking system after the approval of the bail-in.
The favorite retreat of the moment, however, remains the gold. From beginning of the year it rose by 10%, 5% last week. Despite the absence of the yellow metal inflation outlook is purchased, a further indication of the turmoil they are experiencing the markets.
The oil futures they give slightly higher with Brent near $ 35 per barrel . Much of the oil recovery in recent days is also related to the devaluation of the dollar after they arrived macro data indicating a slowdown in growth in the US and that could push the Federal Reserve to review the plan of rate hikes. The one planned for March could jump, and it is at this point questioning well as the increase in July. This morning the euro trades below $ 1.12, with little change moved.
Meanwhile, slower than expected growth of the Spanish industrial production in December, according to data released this morning by the National Statistics Institute ine.
In terms corrected for calendar production has indeed marked a growth of 3.7% on year from 4.3% in November (4.2% growth initially estimated the previous month).
Spain has closed 2015 with an average annual growth of industrial production of 3.2%, thanks to the push of investment goods and the rebound in durable goods, stimulated by the recovery in household spending. For the production, it is the best annual figure since 2007.
The “sentiment” of the euro area has deteriorated more than expected in February on concerns about the global economy. The Sentix index, which monitors the morale of investors and analysts in the euro zone, fell to 6.0 during the month from 9.6 in January. The analysts polled by Reuters had forecast a reading of 7.6. “The euro area is demonstrating, and no surprise, it is not immune to the considerable loss of momentum in the global economy.”
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