The specter of a rise in US interest rates as early as September in red sent Wall Street and major European markets with Milan, black mesh of the Old Continent, who finished with the Ftse Mib index falling 1.21% and the All Share 1.18%. Piazza Affari was a session with sales of insurance and savings bonds managed while the crude oil sector, thanks to the new oil blaze (WTI gained another 1.5% and is now aiming share $ 47 per barrel), it has shone on top of the list.
In the Old Continent has done slightly better Madrid (-1.13%) while Paris recorded -0.83%, Frankfurt at -0 , 58% and London to -0.68%. An hour after the close on Wall Street the Dow Jones yielded 0.2% and the S & amp; P 500 0.3% All while yesterday, the currency market, the euro has brought us closer share $ 1.13 (maximum Brexit post) and then fall back to 1,128 (compared to Friday’s 1.1188). Sull’obbligazionario there was instead a slight rise in interest rates: if the BTP-Bund spread remained stable at 114 basis points, the yield on Italian ten-year actually increased to 1.12% after the low of 1.05 % touched last week.
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fears of a rate hike uses are related to statements made yesterday in an interview with Fox Business by William Dudley, president of the New York Fed: the banker said he was convinced that the markets are underestimating the possibility of monetary tightening, implying that this could be done as early as next month. Dudley, considered by experts to be in line with the thinking of the governor Janet Yellen, also reiterated that an increase in borrowing costs in September remains on the table because the US economy will improve in the second half. In the evening also Dennis Lockhart, president of the Atlanta Fed, said he did not exclude two rate hikes this year, with the first as early as September, while today the Fed will publish the minutes of the last meeting held on July 26 to 27 .
The words of Dudley and Lockhart have “canceled” the possible positive effect of popular macro data yesterday overseas, in particular as regards starting of new construction sites and especially the industrial production in July was up 0.7%, more than expected and at the fastest pace since November 2014. Under the consensus, however, was another key figure spread yesterday in Europe: l ‘ German Zew index, barometer of business confidence, rose in August to 0.5 share points (2 points against expectations) from -6.8 points in July, which was the lowest in four years.
To return to the Milan Stock Exchange, as mentioned, realizes the insurance sector (General loses 2.89%) and asset management (Azimut – 3.27%, Banca Mediolanum -2.8%) although the worst was Ynap which fell by 4.37% after it had gained over 20% since the publication of the half year. In red even Exor (-3.17%), Ferrari (-2.49%) and Leonardo-Finmeccanica (-2.37%). Among the most brilliant headlines Telecom Italy, which has brought us closer fee 0.8 euro thanks to positive analyst reports: Credit Suisse News and Street are betting on the prospects of the EBITDA of the telephone group that is so arrived in a step from pre-Brexit quotes . Also on oil purchases, with Eni (+ 0.3%), Saipem (+ 0.75%) and Tenaris (+ 2.3%) driven by new crude blaze, and Salvatore Ferragamo (+ 0.5%) while Recordati closed at -0.04% after the announcement of the death of the patron Giovanni Recordati.
on foreign price lists, the rumors of M & amp ; a have turned the attention of operators, particularly in Frankfurt where Linde has risen by 11% for the talks with the American Praxair voices ahead of an alliance in industrial gases while Bayer (-0.7%) closed 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 leap of Antofagasta (+ 8.6%) thanks to the half-yearly accounts, exceeded expectations despite reporting a drop in profit.
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