(Il Sole 24 Ore Radiocor Plus) – Upward week for European stock exchanges which, despite the thud on Monday 19 September linked to the Evergrande crisis, recovered ground while closing the last session in red. The new stop was still caused by Chinese factors. Evergrande’s failure to pay bond coupons, which plummeted 11% in Hong Kong, and Beijing’s Central Bank squeeze on cryptocurrencies set the stage for a subdued day for the stock market with retailers and tech hardest hit.
Frankfurt weak before the vote. With Merkel Dax + 200%
In Amsterdam (AEX), Paris (CAC 40) and Zurich the most consistent losses, which led the indices down by about one percentage point, while Piazza Affari limited the contraction of the FTSE MIB. Frankfurt (DAX 30) closed down before the German political elections scheduled for the weekend: the era of Angela Merkel, which began in November 2005, ends with the main index that has tripled the points in these 16 years (+ 200%) compared to about + 260% of the S & P500 in the same period.
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The weekly balance of the European lists, however, is positive: despite the fall at the beginning of the week, the stock exchanges have progressively recovered ground and passed the appointments with the central banks unscathed. In the eighth, London and Madrid were the best (+ 1.2%) but Milan and Paris also gained at least one percentage point. Very
more timid Amsterdam and Frankfurt.
Wall Street cautious, China weighs
Guarding Wall Street, after the session that rose sharply on Thursday 23 September. Friday closed contrasted with the Dow Jones gaining 0.09% to 34,797.60 points and the Nasdaq losing 0.03% to 15,047.70 points. The S & P500 index rose 0.15% to 4,455.57 points.
The week is confirmed volatile and, as in the past days with the Evergrande crisis, it is China that creates tensions: the Central Bank has in fact declared illegal all activities related to cryptocurrencies, as are all the trading services provided by foreign companies in China. The decision is having repercussions on cryptocurrencies and several tech stocks. Among other appointments, Fed President Jerome Powell will speak at an event on economic recovery from 10am (4pm in Italy). Finally, the President of the United States, Joe Biden, will host a summit at the White House with the other leaders of the ‘Quad’: Australian Prime Minister Scott Morrison, Indian Prime Minister Narendra Modi and Japanese Prime Minister Yoshihide Suga.