MILAN – 9:30. The unknown on the reopening of the Chinese Squares is resolved with a slight drop, but to step into the shoes of the protagonist in the opening of the markets week is the Tokyo Stock Exchange , which reported a record result (+ 7.16%) and a number of great deeds, from Nomura to Panasonic, rising in double figures. A good omen for the European markets, which deal positive: Milan sale of 3.25% with banks protagonists and returns above 17 thousand points. London grew by 1.6%, Paris 2.25% and Frankfurt 2.15%. Shanghai , closed during the last eight for the Chinese New Year, limiting losses to 0.63%, Shenzhen holds even and Hong Kong back 3%.
It shrinks, after the recent flare-ups, the spread between Bund and BTP. The yield spread between ten-year Italian and German peers duration opens the session at 133 basis points, from 138 the previous Friday. Also flexes the performance passing from 1.65%. L ‘ € is down slightly at $ 1.1207, after strong gains last week. The disappointing data on the Japanese GDP weigh on the yen super, which loses to 113.82 share on the greenback and 127.54 on the common currency.
To underline the phase of extreme market volatility, capable of heavy markdowns and subsequent rebounds, is the fact that the news from macroeconomic front of the rising sun were certainly not positive. To Exchange it was thus a speculative and technical movement, after the worst week in seven years, closed at -11%. As mentioned, the data on the GDP of Japan registered a new downturn in the economy, falling by 0.4% in the period from October to December, with weak consumer spending despite putting expansionary policy implemented by the Japanese government in the last three years. In the whole 2015, GDP growth was limited to 0.4%. The last quarter surveys showed an annual decline of 1.4%, stronger than the forecasts of analysts polled by the agency Bloomberg , a minus 0.8%. The decrease in consumption of 0.8%, which alone contribute to 60% of GDP, and weak wage growth does not allow the prime minister Shinzo Abe reforms to achieve the objective of a rise in inflation to 2% and ‘final exit from the deflationary spiral that is gripping the world’s third largest economy for nearly two decades. In this sense, we have addressed the attention of the Central Bank of Japan, which has recently surprised everyone by moving rates on deposits in the negative; likely, at this point, that jump of the new planned VAT increase (April 2017) from 8 to 10%. Also declining exports (-0.9%) on weak demand as much from the US as from China.
Just the Beijing economy showed new signs of contraction in the trade, on which weighs the weakness demand both external and internal. In January, the Chinese exports are down 11.2% from the same month in 2015, for a value of 177.5 billion dollars. Imports are down by 18.8% trend to 114.2 billion dollars. The Chinese trade balance was so active 63.30000000000 dollars.
The Western macroeconomic agenda is the report by Mario Draghi, Governor Central Bank, the Committee on Economic and Monetary Affairs of the European Parliament. By Bank of Italy is awaiting data on public debt, while Wall Street and the activities are stopped by the US Presidents Day holiday. The US stock market is recovering from the second consecutive week of declines, but the Friday sitting had been positive with the Dow Jones up by 2%.
to explain the rally was also the recovery of the oil, which today is moving down slightly in Asian markets , while Iran prepares to make the first deliveries to European customers after the removal of sanctions. Light crude WTI in New York lost 19 cents to $ 29.25 a barrel, the London Brent gives 10 cents to $ 33.26 a barrel. L ‘ Gold is down to $ 1,214.68 after touching the 11 February the $ 1263.48 an ounce, the highest since a year.
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