Tokyo stock market at highs since February, closes at + 1.2%
The Tokyo Stock Exchange closed on six-month highs with the Topix index reaching its best level since 1990, extending the bullish run since the end of August. Expectations related to the new government after Prime Minister Suga’s step backwards and the expectation of a further improvement in corporate profits in addition to the decline in new cases of Covid-19 push the purchases. News of the telephone conversation between US President Joe Biden and Chinese President Xi Jinping also supported the lists, easing concerns over tensions between the US and China. The HANG SENG in Hong Kong is also brilliant.
Toyota: lowers production estimates 2021
Toyota Motor cut its car production estimates to 9 million units from 9.3 million units for the fiscal year ending March due to the spread of the coronavirus in Southeast Asia. The automaker is adjusting production operations for September and revising plans for October, but said in a statement that it maintains its forecast for operating profit of 2.5 trillion yen for the fiscal year.
Industrial production and Eurogroup
Today is full of events on the macroeconomic front. It starts with inflation in Germany, industrial production and the trade balance in Great Britain
Brittany. Following, industrial production in Italy, France and Spain, the monthly Istat note on the Italian economy and rates in Russia. The United States closes, with prices at
production. A meeting of the Eurogroup is also on the agenda: the impact of the Covid emergency on businesses and measures to facilitate corporate restructuring, but also the ECB’s progress in creating the digital euro, is at the center of the discussion between the finance ministers.
BTp, yield remains below 0.7% after ECB
The spread between BTp and Bund confirms the levels reached after the decline recorded following the reassurances of the ECB on aid to the economy (although there will be a recalibration of the Pepp). On the MTS secondary market, the yield differential between the ten-year benchmark BTp (IT0005436693) and the same German duration is indicated at 103 basis points from 102 at the previous closing date. There was also a slight increase in the yield of the ten-year benchmark BTp which stood at 0.67% from 0.66% of the previous reference.