The European stock exchanges, orphaned by Tokyo closed for the mountain day, open the sessions in decline, with Milan managing to contain the red, thanks to Tim’s push. The attention of investors is entirely directed to the trend of economic growth, with signs of a slowdown coming from China. The Asian giant has been in deflation since July, for the first time in 2 years. The issue of interest rate hikes is also taking center stage, awaiting the next decisions of the central banks.
In Asia, where Tokyo is closed for holidays, the Seoul Stock Exchange closed below parity, Hong Kong fell more than 0.5% and Shanghai lost more than 1%, held back by real estate stocks, after Country Garden , one of the leading real estate companies in the country, announced a massive loss in the first half of this year, due to the persistent slump in the industry. Also weighing on the price lists is the executive order, with which the White House yesterday announced a squeeze on US investments in the Chinese technology sector.
In Piazza Affari, the banks open under parity, after the publication in the Official Gazette of the decree containing the taxation on extra profits and pending possible changes during the conversion procedure into law. The positive protagonist is instead Tim, who earns 3% after the signing of the memorandum of understanding between the Mef and the Kkr on the offer for the network. Saipem also did well (+1.71%), celebrating the new 700 million dollar contracts.