Bags cautious upside after ECB. positive returns to the EU industrial production – The Republic

MILAN – 11:15. The long wave of the ECB, which after a first interim session generated a rally in the price lists of last Friday, also propagates in the beginning of the new week. Octave characterized by important meetings of other central banks, starting with the Fed and the Bank of Japan, which are called upon to clarify their positions downstream of the ultra-expansionary moves of Mario Draghi, who cut all rates, expanded program of securities purchases and offered liquidity at negative rates for banks that increase their disbursements to the real economy. Meanwhile, optimism continues to prevail in the operating rooms. After a good start, however, Square Business back on par with some profit taking. London adds 0.45%, Paris 0.3% and Frankfurt is more dynamic at + 1.5%. In the morning, Asian markets have gone to the highest level in two months (according to the index MSCI Asia Pacific), driven by the banking sector.

The ECB decisions continue to be felt on the bond side, with the spread between ten-year BTPs and German Bund which reaches down to share 100 basis points, its lowest level since mid-January, only to go back into the area 104. the yield on Italian ten-year bonds on the market secondary is 1.3 per cent. L ‘ € is just moved above $ 1.11. The single currency is changing hands at $ 1.1124 and 126.3 yen. The massacre in Ankara brings weakness on the Turkish lira, while Egypt has devalued its currency by 13%. The macroeconomic agenda of the day records the Eurozone industrial production , which returned to positive in January: + 2.1% in the euro area (after -0.5% in December) and +1.7 % in the EU (-0.6% in December). Approaching the time of the merger between the London Bags (which also controls Milan) and Frankfurt.

The wait for interventions of the ECB has made the protagonists banks of this market phase: purchases are broken down copious during March. This dynamic has above all favored the ‘peripheral Bags’ Eurozone, where institutions have a higher specific weight on the main lists and the prospects for improvement of government bonds have direct connection with bank balance sheets. Here is the graph Bloomberg which tracks the performance of Athens (white), Milan (purple) and Madrid (blue) well above the European average (red).

in the morning, the Tokyo Stock Exchange continued the positive trend and recorded a 1.74% growth, hitting a 294 points gain at 17,233.75 share. The figure higher than expected on the orders for industrial machinery in Japan , an increase of 15% in January, has brought back the optimism among investors, waiting for more signals from the meeting of the Bank of Japan , which began today. In trade currency the yen has stabilized at an altitude of 114 intone the change on the greenback, a level of 113.81. Big purchases even on Chinese Bags: a Shanghai The Composite Index grossed 1.75% to 2859.5 points, Shenzhen closed at + 3.22% in 9665.13 points. Trade has felt the weight of the words of Liu Shiyu, the new head of the Authority of the Chinese markets has reported that it is too early because the state abandoned the lists (which attends attraveso funds that buy shares to support the courses) and It said he was ready to intervene massively if you come back the panic. In short, Beijing is ready to support its volatile Bags.

The prices of the oil have treated down on the Asian markets in the wake of outlets triggered profit from gains last week . The WTI crude contracts for April deadline slipped to $ 38.29 a barrel while Brent has filed a few cents to $ 40.35 a barrel. L ‘ Gold is on the rise in Asia at $ 1256.88 showing an increase of 0.6%. Wall Street will reopen after a Friday of net increases which have stressed the positive sign of the past week: the eighth ended with a + 1.1% for the Dow Jones and the S & amp; P500, + 0.7% for the Nasdaq.

Topics:

European shares

Asian stocks

Wall Street

gold

oil

spread

EUR

dollar

bce

Fed

BoJ

BoE

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