MILAN – 12:10. The Chinese economy shows sudden signs of recovery, the oil returns to its highest level since November – before folding down – the IMF warns Brexit and nationalism, but reassures on economic recovery: however weak and jagged continue. In 2017, the only major economy in recession might be Japan. The markets then heave a sigh of relief and look with greater confidence to the coming weeks. Among the major Western lists, however, it remains under investigation Milan Stock Exchange, yesterday only negative stock market of the Old Continent (-1.57%): the eyes are always focused on banks. The support plan through the Fund Atlas leaves open many questions, but in an interview with Republic general manager of Bank of Italy, Salvatore Rossi, explains that “the initiative will give security to the system, and will exclude the domino effect.”
Square Business rebounds and recovers 3.3% pulling the other of the Old continent lists: London halls of 1.4%, Frankfurt 2.2% and Paris 2.4%. The euro brakes and returns to below $ 1.14, while also slows down the yen after the intervention of Japanese authorities, threatening actions on the foreign exchange market. The European currency is changing hands at $ 1.1357 and 123.76 yen. The spread is just moved into the area with 120 basis points year BTPs that make 1.37%. Meanwhile, the Treasury has placed all the 8.25 billion euro of BTPs in 3,7,15 and 30. The average yield on the three-year rose to 0.05% from a record low of 0.05% reached in the auction in March; that of seven years to 0.82% from 0.79%. Production decreased the rate on the 15 years to 1.71% from 1.84% in March and the placement of 30 years to 1.43% from 2.71% auction in November.
on the macroeconomic front the ‘ Chinese export in March marks a 11.5% annual increase, the first in nine months, 160.8 billion dollars, while imports registered a decline of 13 , 8%, to 131 billion. In the first three months of the year, however, the total of exports and imports had a 11.3% braking. It is a trend that could signal a stabilization or perhaps a recovery in the second economy in the world, engaged in the difficult phase of transition from export and manufacturing towards services and consumption.
At this time, however, the ‘ investor interest is primarily aimed at oil prices in the hope of an agreement on the freezing of production: the focus is all on the meeting next Sunday to Doha (Qatar) between member states and not of the ‘ Opec. Russia remains optimistic, despite the disagreements between Saudi Arabia and Iran. Today, however, the focus will be on US oil stocks close at record highs even if the production could drop below 9 million barrels per day for the first time since 2014. Meanwhile the contracts on crude WTI expiring in May dropped to $ 41.77 per barrel ($ 42.17 yesterday in New York); Brent down to 44.4 US dollars.
The agenda of the day is waiting for the beige book of the Federal Reserve, the photograph of ‘US economy whose growth forecasts were cut yesterday by the international Monetary Fund as well as the global and Italian. In Washington continue their spring meetings the IMF and World Bank . Among the most anticipated macroeconomic data, however, there is inflation in France confirmed an increase of 0.7% in March, compared with a 0.1% decline on an annual basis . In February, the Eurozone, the Industrial production was down 0.8% compared to January, while in the EU fell by 0.7%. The comparison on the 2015 is rather positive at 0.8%. By Set will come data on inflation, consumer stocks of companies in March.
In the morning, the Tokyo Stock Exchange has finished trading with a gain supported by 2.84%: the Nikkei 452 points settling at 16,381.22 level, the highest level in two weeks. Meanwhile, the Japanese currency stops being strengthening against the dollar, trading at 108.59 level. Last night’s session Wall Street is over near the highest of the day: the crude sprint back to November levels above $ 42 a barrel, fueled investor appetite for risky assets doing taking sales on government bonds on both sides of the Atlantic. The Dow Jones gained 0.94%, the S & amp; P 500 rose 0.97% and the Nasdaq added 0.8%. Among the raw materials, the prices of ‘ Gold are down by 0.3%: bullion for immediate delivery is changing hands at $ 1,252.5 an ounce.
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