(Il Sole 24 Ore Radiocor) – The main European stock indices are in moderate rise at the start of a session that could still be affected by the pressure on technology stocks that started from Wall Street, also thanks to the problems that caused the blocking of the social networks Facebook, Instagram and Whatsapp, and continued in Asia . Piazza Affari is among the best with the FTSE MIB earning over half a percentage point but the Ftse100 in London as well as the CAC 40 in Paris is also the best performer from Amsterdam. At a slower pace the DAX 30 in Frankfurt. The focus of financial markets remains on the size and duration of inflationary trends and how these will trigger the interventions of central banks. In the afternoon, the ISM on the services sector in the United States for the month of September: a decrease is expected compared to the previous month.
Unicredit in the lead in Milan, the banks are doing well
The Milanese performance is supported by Unicredit, for which rumors speak of an agreement for Mps by the end of October, and by Leonardo – Finmeccanica thanks to the restart of the listing process in the United States for the subsidiary Drs. Bankers also did well in Milan, with Banco Bpm, Bper and Intesa Sanpaolo, up sharply. Telecom Italia undertone.
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Tokyo drops 2%, tech sell-offs and growth threats weigh
Sitting in the red for the Tokyo stock exchange amid the tepid market response to the new government and a series of threats to global economic growth. Investor sentiment was hit by a global sell-off in tech stocks behind the threat of persistently high US inflation and continued concern over Chinese real estate group Evergrande and possible domino effect on the sector. In the country, Kishida was formally voted the nation’s 100th prime minister but his policies have yet to excite investors. At the end of the trade, the Nikkei index of leading stocks lost 2.19% to 27,882 points and the broader Topix lost 1.9% to 1,947.75 points.
China, after Evergrande the Fantasia case worries
The real estate sector in China still in a storm. Chinese real estate firm Fantasia in default of its debt payment obligations, fueling concerns about the sector shaken by the difficulties of Evergrande, the giant on the verge of bankruptcy. Fantasy Holdings was unable to pay the $ 205.7 million (€ 177 million) owed to its creditors on Monday, the Shenzhen-based company announced today. An announcement that comes as the management company Country Garden Services Holdings indicated that a subsidiary of Fantasia had not repaid a loan of 700 million yuan (93 million euros), predicting a possible default of the real estate group. China’s economy has intensified since Evergrande, the country’s most indebted private property developer, struggles with a debt of around € 260 billion and starts restructuring. Evergrande suspended its trading in Hong Kong on Monday pending the announcement of a “major transaction,” with media outlets talking about a plan by Hong Kong group Hopson Development Holdings to buy 51% of its real estate services arm. for over 40 billion Hong Kong dollars (4.43 billion euros).