the positive signs of the Asian markets (Nikkei index of Tokyo which closed up 2.39% and Chinese bags recovery is in Shanghai, + 0.86% which in Shenzhen +1, 34%) are partially confirmed in European stocks, but only in the early stages of the day. At midday the Milan Stock get to lose 1.6%. After the big crash on Friday, following the British vote that decided to Brexit (burned 637 billion of euro in continental squares), there was great expectation for today’s opening. And the first exchanges have dismissed fears of a new epochal collapse: The London Stock Exchange opened down 0.5%, those of Frankfurt and Paris also stable to settle back down to a decline of half a percentage point. But both the Milan Stock (+ 0.12% at the opening and then accelerated up to a 1% growth and zeroed earnings) that Madrid (+ 2.5%), showed a positive sign, in Spain even in the wake the election results after the strengthening of the Popular Party in the general election, although the PP is not able to express a majority government. No waiting also for the words of ECB governor Mario Draghi today in Sintra (Portugal) where it meets the Annual Forum of the European Central Bank.
the step back in mid-session: suspension downward
the back of bank mid-morning, however, has contributed before to dampen the rise of Milan and then to drag down the whole of Europe. Milan Stock Exchange, reached a decline of more than 2%, it is so back to its lowest since July 2013, with the worst performance among major European markets (London lost 1.3%, Paris and Frankfurt 1.4% l ’1.5% while restricting Madrid losses with -0.7%). With 9 frozen stocks (MPS, Mediobanca, Unicredit, UBI Banca, BPM, Azimut, Ferragamo, General and Mediolanum).
The currencies
On currency front, opening the pound – after a 10% meltdown last Friday when it reached its lowest since 1985 – lost a further 3% to 1.3224 against the dollar. While it does not stop the price of gold rush as a result of the influx of investors to safe havens because of Brexit. The metal for immediate delivery advancing 1.5% to $ 1,335.5 an ounce after the jump of 8% since Friday.
The Asian markets
Returning to Asian stock markets, the Japanese moved in upward since the opening, after the emergency meeting called by Prime Minister Shinzo Abe with Finance Minister Taro Aso and of Japan governor Haruhiko Kuroda Bank to consider new measures to prevent further fluctuations on Currency markets to 4 days before the vote on Brexit. The yen remained stable against the dollar, having appreciated up to 6.7% Friday, while still devalues the pound. The Japanese currency is at its lowest level in five and a half on the dollar. “Risk factors related to uncertainty remain present on the financial markets – said Abe -. We will strive to restore stability. ” The premier explained that other measures are being considered to remove a negative impact on Japan, in particular for small and medium-sized enterprises, and required the BoJ to ensure an appropriate level of liquidity in the market to support the banking system. China Bags, who on Friday had dodged the tsunami of the markets, halting the loss of around 1%, on the other hand have opened in negative territory but then reversed course, and now they travel in a positive, Shanghai and Shenzhen to + 0.86% in + 1.34%. Chinese Premier Li Keqiang urged to put in place all possible joint efforts to protect and restore confidence in the global economy shaken by referendum on Britain’s EU. “Under these circumstances – she said Li speaking at the World Economic Forum in Tianjin, whose speech was broadcast live – we need to manage the challenges, strengthen confidence, create a stable international environment and find solutions to solve all the issues with ‘open . Finally, closing moderately bearish for the Hong Kong Stock Exchange, with the Hang Seng Index receding 0.16% to 20,227.30 points.
June 27, 2016 (edited June 27, 2016 | 13:36)
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