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Cautious opening for European stocks as Asian and Pacific markets are all lower on fears that central bank monetary tightening will not ease. Stocks related to computers and semiconductors were also down due to tensions on raw materials. In fact, the Tokyo Stock Exchange closed down by one percentage point, with Hong Kong negative by 0.7%. The Chinese lists of Shanghai and Shenzhen are slightly below parity, which limit the losses on the promises of intervention in support of the economy by the Beijing government. On the other hand, the closures in Seoul were heavy, with a decrease of 1.2%, and above all in Sydney, more sensitive to the possible choices of the Federal reserve, which lost the final 1.6%. Futures on the start of European markets are uncertain.
Meanwhile, wait for the US jobs report, which will likely have a bigger impact on Wall Street than anything else this week.
Events
In the morning, operators’ spotlights were focused on German industrial production in May and on retail sales again in May. In the afternoon, the traditional appointment at the beginning of the month with US data on new non-agricultural jobs, the unemployment rate and hourly wages. The day Heavy closure for the European stock exchanges on the eve of the Ftse Mib which dropped 2.5% and the Dax 2.6%. The signals from the Fed’s minutes depressed the market, showing that all bankers were in favor of raising the cost of money. On the macro front, data on private employment came out better than expected, even the ISM services exceeded expectations. Bond yields jumped up and equity suffered In PIazza Affari among the blue chips up only Saipem a Fineco up by more than 6%. Heavy Stm which leaves more than 5 percent on the ground. The BTp Bund spread rose slightly to around 175 basis points