MILAN – 13:00. European stocks advance uncertain with the advance of trade, in the wake of the trend in oil prices, which yesterday had dragged Wall Street toward yet another record. In a period of low volumes, characterizing the week of August, the experts are trying to figure out if the slowdown in China, the economic weakness of the Eurozone and the recovery patchy that characterizes the United States can make room for new space expansionary measures, such as to support the recovery and the markets run.
At midday, London yields 0.3%, Paris 0.5% lima and Frankfurt 0.65%. A Milan , after starting in Red Square Business fluctuates above and below parity: the FTSE MIB yields 0.25%. Yesterday, the Italian stock market was closed for August and the other markets of the Old Continent had filed the seat upward.
From the front macro recording inflation in UK : marks a monthly decline of 0.1% in July and an increase of 0.6% per annum, with the high cost of imports to push the price trend. Back to rise in August, but less than expected, the ‘ Zew index in business confidence in Germany amounted to 0.5 for August after crashing in July to -6.8 from 19, June 2 due to the financial market volatility that followed the vote in favor of Brexit. Expectations were still slightly higher, around two points. The indicator on the current situation of the country salt instead to 57.6 from 49.8 in July. The Eurozone recorded in June a trade surplus of 29.2 billion euro, up from 25.5 billion the same month last year. Down though both of trade rumors, with exports going down by 2% and imports 5%.
‘ € is on the rise: the single currency is trading at $ 1.127, $ 1.118 against the listing yesterday the European central Bank. The spread is stable at 115 basis points area with BTP which make around 1.05% to a record low.
In the heart of summer, however, the debate in financial world still focuses on future increases in Fed interest rates. traders see as the most likely time for an increase in the cost of money by the Federal Reserve the beginning of next year: the ability to close in December fell to 42% as confirmed by a survey conducted by the Wall Street Journal among economists. To bring down the chances were disappointing data on retail sales released Friday. On these issues take importance the next two deadlines: the publications of the minutes of the last meeting of the FOMC, Wednesday, July 17, and the intervention in public Janet Yellen in Jackson Hole on August 26th. However, the ECB will be the first major central bank to meet: analysts are betting that on September 8 Mario Draghi will announce an increase of monetary stimulus.
In the morning are set back for the second consecutive day the Bags of Asia and the Pacific , braking from the exchange between yen and dollar, close to now share 100. the hypothesis of a failure to rise in US interest rates by the year resulted in fact a devaluation of the dollar 1% against the yen. Tokyo lost 1.62%, Seoul 0.62%, Taiwan 0.42% and 0.14% Sidney.
Last night, as I said, yesterday’s session at Wall Street is over with the three major indexes have scored new record after last Thursday already had closed at new highs on the same day for the first time since the end of 1999. the three indexes also reached new intraday highs. The Dow Jones industrial average gained 59.58 points, or 0.32%, to 18636.05 share; the S & amp; P 500 added 6.10 points, or 0.3%, to 2190.15 share, while the Nasdaq rose 29.12 points, or 0.6%, to 5262.02 share by recording the third record row.
in terms of raw materials, the oil pay some profit taking after the recent gains in the day of launch. WTI then turns upward and returns toward $ 46 fee per barrel, while Brent added half a percentage point in the area of $ 48.5 per barrel. Also it dates back to the ‘ Gold : the precious metal for immediate delivery gained about 1% to $ 1,352 an ounce.
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