Positive European markets at the start, remain doubts about the Fed – The Republic

MILAN – 9:15. The European markets are in positive territory after the reopening of uncertain week, he still saw the Milan Stock Exchange closed higher as recovery of the banking sector. Milan marks a rise of 1.1% in early trading, led by banking and despite the drop in oil prices. Among the most followed by the Milanese listed securities is these days Mediaset: Friday the televisions connected to the Berlusconi family have filed legal action against Vivendi, guilty of having reneged on the contract signed last April that committed the French – among other things – to acquire premium from Cologno Monzese. A return also Fininvest parent should present his accusation in court, while diplomats try to mend the breach: it should be reiterated the claim for damages of 50 million for each month of delay the execution of the original agreement. Well the other European bourses: Frankfurt , London and Paris are aligned in the vicinity of 0.4%.

To become the mistress market is waiting for the words that Janet Yellen, the number one of the Federal Reserve, will speak Friday, August 26 from Jackson Hole , the traditional central bankers’ summit that closes the Wyoming summer holidays . “ We expect wait-tones by the various members, but with a head to hold the market ready for a touch up later this year. Despite the disappointing data on uS GDP for the second quarter, which also will be reviewed just this Friday, we believe that the data is not so bad as to remove a rise in the cost of money “by the end of the year, last night commented Vincenzo Longo Ig Markets. “The impression is that the Fed wants to leave the door open to any maneuver, avoiding that the market is too culli on a still super accommodating stance, which could then lead to violent repercussions in the case of an action “, the addition. On the other hand, it is unlikely a move before the presidential election BEGINNING of November, so the logical conclusion is that for close to rates you arrive at the December meeting.

In Asia, stock markets closed weaker after a day of ups and downs, characterized by the difficulty of the energy industry (weighed down by the decline in oil after recent gains) and the ever-present fears of a rate hike in the US. At the end of the Tokyo Stock Exchange sold 0.61%, Hong Kong 0.32% rise while the Chinese price lists with Shanghai and Shenzhen that close with a rise around 0.2%.

the agenda macro signals the PMI indexes that anticipate the trend of manufacturing and services. In Japan we saw the first increase since February, the preliminary manufacturing PMI for August rose to 49.6 from 49.3 in July. The index of manufacturing production rose to 50.6 (from 49.4), the first increase since February. A result above 50 points indicates economic expansion, below that threshold has instead shrinking. In the Eurozone it is expected then consumer confidence, while the US looks to the sale of new homes and the manufacturing index of the Richmond Fed. L ‘ € rose to $ 1.1335 from 1.1275 and 1.1323 at the close of the day before yesterday on Wall Street. Against the yen the single currency is trading at 113.46. The spread between BTP and German Bund is in expansion close to 120 basis points threshold, but the tricolor decade is stable with a yield around 1.1% on the secondary market.

As mentioned, in terms of raw materials oil is down to $ 46.97 per barrel for WTI and $ 48.80 for Brent. L ‘ Gold is basically stable in Asian markets (-0.02%) to $ 1,338.82 an ounce. Closing opposed to Wall Street , last night, the Dow Jones has left on the ground 0.12% to 18,529 points. The Nasdaq surged 0.12% to 5,244 points.