(Il Sole 24 Ore Radiocor) – The European stock markets are moving quietly, after a positive start to the week and the liveliness of the Asian markets, with Tokyo at its highest in 5 months. The Stoxx 600 is also a step away from its all-time highs while in Piazza Affari some stocks, including Prysmian, have broken important resistance and travel in uncharted territory. While traders are already looking forward to the appointment with the ECB on Thursday 9 September, the morning will be marked by an indication of the prospects for the German economy that will come from the publication of the Zew index in September. Wall Street is also restarting, closed for Labor Day. European stock exchanges started the week reassured by excellent macro data and by expectations of a more “dove” Federal Reserve after the negative data on jobs published on 3 September.
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On the foreign exchange market, the euro remains below 1.19 against the American currency and is traded at 1.1879 dollars (from 1.1862 yesterday) while the ratio with the Japanese currency marks 130.43 yen for one euro (from 130 , 29). Dollar / yen at 109.87 (109.84). The price of oil rises: the October future on WTI is traded at 69.41 dollars a barrel, while the November delivery on Brent rises to 72.78 dollars. Crude oil receives support from the increase in Chinese imports in August although concerns remain fueled by the price cuts that Saudi Arabia is operating in Asia.
Tokyo, Nikkei on highs since April closes at + 0.9%
Closing up for the Tokyo Stock Exchange which reached the highest levels since last April just below the threshold of 30 thousand points. Driven by optimism for the change of pace in reforms and growth that should follow the presentation of the new prime minister, the Nikkei Index finished up 0.9% to reach 29,916.14 points. The broader Topix Index also performed well, finishing with a gain of 1.09% at 2,063.38 points