MILAN – Italian Stock Exchange has stopped listing Popolare di Vicenza, back from a capital increase subscribed only by 7.6% of partners and completed thanks to the Fund Atlas: there are no numbers because it constitutes a “floating” enough. Lacking in substance an appropriate number of shares to be exchanged on the Stock Exchange to generate a real title of Venetian popular market. At this point, the credit system support fund will be shareholder with over 99% of the Vicenza bank. The news impacted immediately Square Business , which accelerated downward with the banks affected by the suspension: the Ftse Mib index ended down 0.97%, the only negative of the main EU Bags , partly recovering from the lows of the afternoon. They went at auction Unicredit and BPM volatility, and with Banco Popolare, Mps and Ubi were the best-selling titles. Well Fca, which grossed an excellent sales performance in France, while Ferrari has closed a quarter of growth and announced Sergio Marchionne as a new high.
In the rest of Europe, the lists have treated slightly wavy, except London that has remained closed for holidays: Frankfurt rose 0.84%, Paris 0.3%. It reinforces Wall Street : at the close of the European markets the Dow Jones rises 0.35%, the S & amp; P 500 0.4% and the Nasdaq advancing by 0.1%. L ‘ € is soaring: share exceeds $ 1.15, the 9-month high. The single currency did not touch such a high value exchange rate against the dollar since August 2015. The euro changed hands at 1.1535 dolari and 12.73 yen. Stabilizes after an initial blaze the spread between Bund and BTP: 120 basis points with a yield of ten-year Italian 1.48%.
At the opening of the day, on markets seemed to take off again the old saying “sell in may and go away” sell in May and go away. A worry investors is the inability to read the next policy moves by the central banks. Especially after the disappointment of last week, the Bank of Japan, which has launched the much hoped-for stimulus. The market also questions whether or not the Federal Reserve will raise interest rates in June and while there are the questions about the effectiveness of the ECB’s moves, which has just ended first month of the purchase program extended 80 billion euro, analysts seem to agree on one thing: the volatility could return.
on the other hand – says Bloomberg – reflections of Quantitative easing on the European market are not seen, and indeed the question arises: are over its effects on investors? Instant replication Coeuré Benoit, member of the board of ECB in an interview with the French radio Inter radio said: “the monetary policies are driving down costs for investments, even in the long term. However the measures take time to manifest their effects on inflation and, meanwhile, are helping the growth. ” In the meantime, though, eurozone government bonds marked their worst month since last August.
From a macroeconomic point of view, today the focus is on the manufacturing SMEs Eurozone. The Italian index of expectations of the directors of salt purchases to the maximum of four months to 53.9 points in April (above the threshold of 50 indicates economic expansion). Well even Germany, up 51.8 points, and the Eurozone overall, with the indicator in progress 51.7 points despite the drop in share 48 of the French. They are expected in the afternoon data from the US, along ISM index. But the week is full of important events: are coming to the spring forecast of the European Commission with possible guidance to countries that do not respect EU parameters on the accounts. Right on budgetary flexibility, the Minister Padoan spoke today in Brussels and remarked, in response to the falcon German Weidmann, who “creates incentives for good policies” by governments. Eyes then on the employment data in the United States. In the focus of the experts also back Greece: Monday, May 9 is on the agenda an extraordinary Eurogroup to reach an agreement on aid to Athens before the expiry of the terms for reimbursements in early July.
Closing, this morning, for the Tokyo Stock Exchange thanks to the yen’s blaze rose to its highest for 18 months in the exchange rate against the dollar after the bank’s decision of Japan to opt for the status quo of monetary policy. The Nikkei index of driving licenses has so left on the ground 3.11% closing at 16147.38 points to recovery after the close of Friday for holidays. Even the next three days are public holidays and the Stock Exchange will reopen next Friday with a break that encouraged investors to limit risk-taking. She closed for holidays in other Asian markets. Worse, in the meantime, the manufacturing index dropping to its lowest since more than three years to 48.2 points.
In terms of raw materials, the prices of ‘ Gold exceed the psychological threshold of $ 1,300 an ounce. Downhill quotations oil on the export figures in Iraq record in April: the afterhours market in New York WTI crude contracts maturing in June lost 49 cents s $ 45.52 a barrel. Brent yields 1.3% to $ 46.76.
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