MILAN – 14:00 hours. The markets cling to Mario Draghi. Exchanges expect the words that the ECB president will speak after the decision to leave unchanged the cost of money: after the expansion of quantitative easing to 80 billion a month, and the cut on the rates decided in March, analysts do not expect new moves but the repeated attacks coming from Germany could offer the ECB an opportunity to kick the ball in the field of politics. Draghi will most likely reiterate that monetary policy alone is not enough to solve the problems of stagnation. The number one of the Eurotower, however, could also return to defend the autonomy of the central bank, especially after the attack of the German Finance Minister, Wolfgang Schaeuble, who blamed the expansionary monetary policy of electoral success in Germany of the anti € Alde right. Fueling the controversy is the idea circulated in recent weeks to “helicopter money” that was circulated in recent weeks. Basically, some believe, the central banks should step over the banks and put fresh money directly into the pockets of citizens, to boost demand and prices. Hypothesis “absurd” for the German Governor Jens Weidmann.
In Milan, Piazza Affari is on par, Frankfurt lost 0.3%, London 0.5% and 0.4% in Paris. The euro exchange rate below $ 1.13: the European currency is changing hands at $ 1.1296 and to 123.94 yen. Stable, the spread between ten-year BTPs and German counterparts to 123 points, after closing at an altitude of 124 with a 1.42% yield, but on the face of government the focus is on tomorrow’s headlines Eurogroup on Greece. On the macroeconomic front, Eurostat records that the average of the 19 countries of the Eurozone deficit in 2015 fell to 2.1% for the sixth consecutive year, continuing the downward trend.
Meanwhile, the price of oil – which are always correlated equity markets – stabilizes its consolidation with WTI above $ 44 fee. The price of crude oil went into the rally following the data of the Washington Department of Energy, which has certified a new drop in US production and an increase in inventories lower than expected. Iraq also asked the producer countries to meet again in May, after the failure of Doha, to agree on a price freeze. On Asian markets, Light crude futures give a cent to $ 44.17, after a top at $ 44.41 and Brent advanced one cent to $ 45.81, after a maximum of $ 46.03. The meeting could be held in Russia in May, while June 2 on the agenda is an OPEC summit in Vienna.
In the morning, the Tokyo Stock Exchange ended sharply higher on the heels of crude. The Nikkei index ended the trading day with a rise of 2.70% to 17,363.62 points. Rising also Topix, which closed at + 2.04% to 1393.68 points. Collapses again, however, Mitsubishi, after the dieselgate scandal: the title he lost on the Japanese list 20%.
And, yesterday, again thanks to oil on new highs in 2016, the American stock has done the same. The Dow Jones and the S & amp; P 500 have been consolidated above the psychological threshold of 18 thousand and 2,100 points. By sector, the financial sector (+ 0.77%) and energy (+ 0.9%) have run the most. The Dow Jones rose by 0.24%, its highest level since July; the S & amp; P 500 gained 0.08% to 30 points from its all-time high, while the Nasdaq recovered 0.16%. gold price is rising: the metal for immediate delivery rooms by 0.3% to $ 1,248 an ounce.
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