The European stock exchanges aim to consolidate the Ferragosto rally and open around parity in the last session before the holiday. At the closing on new records last night on Wall Street, the negative trend of the Asian markets is counterbalanced, on which the concerns about the new Chinese tightening on Big Tech and the diffusion of the Delta variant weigh.
Yesterday, it should be remembered, Milan posted the seventh consecutive daily increase (always at the highest levels since September 2008) while Paris took a breath away from the historical record, which Frankfurt continues to update. always the big question about the next steps of the Federal Reserve: even yesterday, some members of the institute expressed themselves in favor of an imminent start of ‘tapering’. Today, overseas data on import and export prices and Michigan confidence are expected. Crude oil is still weak with Brent losing 0.8% to 70.7 dollars a barrel.
Loading…
Tokyo closes slightly lower
Sitting slightly down for the Tokyo Stock Exchange worried about the new wave of Covid-19 infections. The index closed below 28 thousand points, driven down in particular by the stocks of the energy and airlines sectors. The Nikkei 225 leading stock index closed at 27,977.15 points, down 0.14 percent. The main Asian market already in the morning showed a lack of direction, undecided between the optimism expressed by the new records on Wall Street and the pessimism for the new record of Covid-19 infections in the archipelago. The wave of new infections, as seen in the two weeks of the Olympic Games, shows no signs of slowing down and today reached the national record of 18,900 cases with only 36% of the population vaccinated, the lowest immunization rate among the G7 countries. Among the stocks, the Toshiba conglomerate badly after the quarterly data released on the eve. The latter disappointed both for the lower than expected profit and for the lack of upward revision of the guidance for the current fiscal year. Furthermore, the hypothesis of a purchase of Toshiba seems to be running aground, according to what was declared by the president of the group at a press conference. In recent weeks, rumors have been circulating of a possible interest from CVC Capital Partners or some other large international fund.
Contrasting session for Wall Street
All this after a mixed session on Wall Street after the records of the last two days for the Dow Jones and the S&P 500. Inflation and jobs remain at the center of the attention of investors and the Federal Reserve: the number of new weekly requests for unemployment benefits has decreased of 12,000 units to 375,000, in line with estimates. In July, producer prices in the United States increased by 1%, against expectations for + 0.6%; the “core” component – the one without the more volatile components represented by the prices of food and energy goods and commercial services – grew by 1% compared to the previous month, against expectations for + 0.5%. Compared to a year earlier, the increases were 7.8% and 6.2%, the highest ever recorded.