Day from gains on European stock markets after Wall Street, although the data than expected industrial production and the start of new US shipyards, has folded from historic highs. Use the list weigh the words of William Dudley, president of the Federal Reserve Bank of New York, according to which a rise in US interest rates may already be in September. The opening of Dudley to a rise was also confirmed by Dennis Lockhart, president of the Atlanta Fed, according to which “at least an increase in rates this year may be appropriate.” So the Milan Stock closes about the minimum session, with the FTSE MIB to -1.21%, penalized by the insurance segment (General lost 2.9%) and asset management (Azimut -3.3%) although the worst is Ynap that gives 4.37% after it had gained more than 20% thanks to the half-year.
Among the most brilliant titles, Telecom Italy – which brings fee 0.8 euro thanks to positive analyst reports – and petroleum, with Eni (+ 0.3%) and Tenaris (+ 2.3% ) driven by new crude blaze, in new York rising 1.4% to $ 46.4 per barrel. Recordati closes at -0.04% after the disappearance of the owner Giovanni Recordati.
On the currency market, the euro approximates share $ 1.13 (the highest post Brexit) but then falls back to 1,128 against Friday’s 1.1188. The Japanese currency gained positions in the major currencies: are necessary 113.1 yen to the euro (112.97 Friday) and 100.3 yen for a dollar (101.27).
In Europe, Paris closed at -0.83%, -0.58% and Frankfurt to London to -0.68%. The rumors of some big M & amp; A spark the attention of operators primarily on the Frankfurt securities where Linde rose 11% for the rumors of talks with the American Praxair ahead of an alliance in industrial gases while Bayer ( -0.7%) was weak after the rumors of a hostile bid in preparation for Monsanto. Red Volkswagen (-1.7%), which according to the Wall Street Journal would risk a criminal investigation in the US for the case dieselgate. In London stands Antofagasta (+ 8.6%) thanks to the half-yearly accounts, exceeded expectations despite reporting a drop in profit.
Tokyo Stock Exchange, Nikkei slips 1.6% held by the strong yen
Germany: ZEW index rebound to 0.5 points in August
Back to rise in August, the ZEW index of business confidence in Germany. The index for August amounted to 0.5 (although economists esteemed +2) after crashing in July to -6.8 from 19.2 in June as a result of financial market volatility that followed the vote in favor of Brexit. The index on the current situation in the country rose to 57.6 from 49.8 in July.
Use best industry expectations, yet firm prices
the US industrial production in July rose more than expected and at the fastest pace since November 2014, encouraging signal on the performance of the manufacturing sector. As announced by the Federal Reserve, in July, the industrial production increased by 0.7%, after rising 0.4% in June (revised down from + 0.6% in the first estimate). Analysts expected an increase of 0.3%. Construction activity showed an uncertain trend: the index that measures the start of new construction sites has jumped compared to June by 2.1% to 1.211 million units, after an increase of 5.1% the prior month. The figure is better than the forecasts of analysts, who expected a figure of 1.18 million units. Finally the prices at the American consumer, also in July, remained unchanged from the month before. The figure flag as inflation remains below the US central bank target.
Stop to Tokyo held back by yen: Nikkei -1.6%
the Tokyo Stock Exchange ended down sharply fluctuating a session and match well with the Nikkei index which benefited from the positive close on Wall Street and in oil prices. To curb purchases the yen continues to maintain strong positions against the dollar. The Nikkei index of driving titles sold its 1.62% and is back below 16,600 points after that, last Friday, had marked the highest since early June.
Last 3 months, 16 August 10:00 AM (source: Thomson Reuters)
BTP, year yield back to 1.12%
Little blur the spread between BTPs and Bund, which does not deviate significantly from the values of the day before, with the yield on ten-year Italian which remains around the record low. The spread between the benchmark ten-year Italian and German expiration closes equal to 114 basis points and the yield of ten-year BTP rising slightly (from 1.07% of the reference yesterday) and goes to 1.12% after the historic low 1.05% reached last week.
( Il Sole 24 Ore Thomson Plus )
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