Bags in red. Strong sales of bank at the Milan Stock. of energy on profit taking – Il Sole 24 Ore

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This article was published March 31, 2016 at 09:19 hours.
the last change is the March 31, 2016 at 11:57.

European stock markets this morning take the road of decline. in particular sales on the bank and on the oil sector. The FTSE MIB backs of more than one percentage point behind the threshold of 18 thousand points. During the morning it was sospesti some bank stocks (including MPS Banca and Banco Popolare) then readmitted to trade with more than 5% decline. Also give ground energy stocks. On both sectors prevail took profits after the parties recoveries from mid-February. In any case, European stocks and the Milan Stock Exchange today closes a very negative quarter.

The store also markets the flash estimate of inflation in the euro area in March, which stood at -0.1% . As for Italy, in March, according to preliminary estimates, the national consumer price index for the whole nation (Nic), gross of tobacco, rose 0.2% on a monthly basis and a decrease of yoy -0.2% (it was -0.3% in February). This was communicated by Istat, explaining that the persistence of the downward trend in prices reflects the further decline of energy products and in particular energy unregulated (-11.2%, from -8.5% the previous month), while in presence of reversal of the trend in the prices of transport-related services (+ 0.5%, from -0.7% in February) and other slight signs of recovery registered by the prices of certain types of products (unprocessed food, Beni durable and semi-durable, recreational, cultural and personal care), which have contributed, however, only to reduce the amplitude of the overall index decline.

Net of unprocessed food and energy prices – the note continues Istat – the ‘core inflation rose to 0.6% (from + 0.5% in February); net only energy prices are leading to + 0.4% (from + 0.3% the previous month). The inflation for 2016 amounted to -0.4% (from -0.6% in February).

In the US, after the words of caution uttered the day before yesterday from Fed governor Yellen, the focus remains on the economic data flow. Waiting for the ‘payroll’ of March, Friday output (with estimates for 205,000 new jobs nonagricoli compared to 242,000 the previous month), yesterday the ADP report showed a figure slightly higher than expected, with 200,000 more seats in the private sector, compared to the 194,000 expected. Today the meantime – as reported by Reuters – is on the agenda the weekly statistics on unemployment benefits: the estimates are for 265,000 new claims, in line with those of the previous week.

In a sign of caution the statements have gone yesterday evening Chairmanof Chicago Fed Evans, with words much in line with those just spoken by Yellen. According to Evans for the coming years in the US it will appropriate a series of hikes very limited “rates”, so both proteggerel’economia from external shocks is to prevent a fall in inflation to levels too low.

In this scenario, for accommodating the US the euro remains strong against the dollar above 1.13 fee.

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