& Info positive (+ 0.7%). In Jackson Hole, Yellen will hold open all the doors – The Republic

MILAN – After the race the day before, European stocks opened weaker but they can strengthen up to close in positive: Milan ends the day rising by 0.68%, with banks prolonging good time yesterday. Unicredit is still the queen of the list, in view of a possible sale of a stake in the Polish subsidiary Pekao, which could alleviate the need for a capital increase. again Mediaset Well, the day after the request for damages from Fininvest to Vivendi, which brings the legal battle between Berlusconi and Bolloré over 2 billion euro. Also of note is the performance of Leonardo-Finmeccanica, which benefits from the speculation about a possible marriage with Airbus. Mixed other European bourses: London jars losing 0.48%, while Frankfurt advancing 0.28% and Paris 0.32 % after a poor start.

Slight drop to Wall Street : the closure of the squares in the Old continent the Dow Jones index and the S & amp; p 500 down 0.2%, the Nasdaq file the 0.1%. Investors recorded growth of the possibilities of a rate hike by the Federal Reserve as early as 2016, rose Tuesday from 51 to 55 percent ahead of the December meeting, while oil back to wilt under $ 48 a barrel. “Uncertainty about the next Fed move weighs especially in emerging markets, which could be affected by a possible monetary tightening,” he told Bloomberg Stephen Innes, traders on the currency from Singapore.

He approaches the meantime the day (Friday, August 26) the speech by Janet Yellen, president of the Fed, the annual symposium of central bankers in Jackson Hole. The clues come from the US macro data is still mixed yesterday increased sales of new homes, but manufacturing has slowed. Mixed signals that complicate Washington’s choices. According to observers, Yellen – who unlike the predecessor Ben Bernanke has been more sparing of signs in his public speeches, the door should remain open for an already possible rise in September, but did not take any concrete commitment to do so. Also because in the meantime, the ECB is the central bank of Japan will meet to evaluate their situations and expect new economic support measures (Mario Draghi will not participate in the summit in Wyoming). Luke Bartholomew Aberdeen rather reflects the long-term challenges that arise for central banks, which will be the subject of the Symposium and that revolve around the theme of “secular stagnation” and the tools to deal with it, starting with restoring a central role in political tax that have long been overwhelmed by monetary ones.

the possibility of a rise in the US at the meeting on September 20 to 21 next rates: remain low. For the December meeting rather than 50%

very encouraging news for the economic recovery of the Old Continent, came from Germany, where the slowdown in the second quarter was confirmed dell ‘ year with GDP growth of 0.4%, compared with 0.7% in the first quarter. Also of note was a record surplus of 18.5 billion euro, equal to 1.2% of GDP, in the first half of this year. In the US, the FHFA index for June which measures the price of homes in the US rose 0.2% per month, unchanged from May. Below expectations instead of the -3.2% of sales of existing homes in July. The change euro-dollar is declining, with the currency of the old continent that is trading at 1,125 greenbacks in the final part of the day. Flat trend for the spread between ten-year BTPs and Bund, just above 120 basis points. But continue purchases on government bonds of the euro. The BTP shows a yield falling below 1.13% while the Bund presents a -0.095% yield.

the trend in German GDP: the line indicates the change over the previous quarter, the bars on the same quarter the year before ( source Destatis )

in the morning, the Tokyo Stock Exchange has recovered the losses of the day before ending the session with an advance of 0.61% to 16,597 points. Sitting just move to the Shanghai Stock Exchange with the main index at the end of trading shows a 0.14% decline to 3,085 points.

Today oil continue commissioning bending stresses in Asia. For Goldman Sachs analysts, this is of benefit taken after the growth of the August prices, which would go even above expectations. E ‘already finished the effect given yesterday by rumors that Iran will participate next month at the informal meeting of OPEC in Algeria to discuss a production freeze. Last but not least Youths data on US stocks: in the week ended Aug. 19 rose to 2,501 million units to surprise 523.594 million, while analysts expected a decline of 200,000 barrels. Oil prices extend losses thus: WTI Light crude sells the $ 1.12 to $ 46.98 a barrel on the New York circuit. London Brent crude down 75 cents at $ 49.21 a barrel. L ‘ Gold is weak spots at the close of European markets: -0.7% to $ 1,327 an ounce.