(Il Sole 24 Ore Radiocor) – European stock exchanges aim to follow Asia and Wall Street, opening the session all higher. After three sessions of decline, it was mainly techs that pushed purchases in the US, with the Nasdaq performing the best, thanks to the decline in Treasury yields. Investors remain focused on inflation after US data and Chinese producer prices jumped to their 25-year peak in September. Meanwhile, the minutes of the last meeting of the Fed, released yesterday, confirmed that tapering could begin between mid-November and mid-December. Still attention to the quarterly reports coming from the US, with the big banks in the foreground from Bank of America to Citigoup and Morgan Stanley, while on the macro front attention is paid to unemployment benefits. Euro / dollar at 1.159 while oil starts to rise again, with Brent reaching $ 84 a barrel.
Cnh Industrial weak, closes sites in Europe due to lack of chips
Cnh Industrial moves against the trend and is the worst of the FTSE MIB. The group announced that it will temporarily close several of its production sites for agricultural machinery, commercial vehicles and propulsion systems in Europe, due to supply chain disruptions and a shortage of key components, particularly semiconductors. This is what we read in a note released late yesterday, which emphasizes that the company “constantly reviews its production plans to respond to this highly volatile context and plans to close the affected plants for no more than eight working days. In october”. Furthermore, Cnh Industrial “remains constantly committed to optimizing production operations in order to respond to the continuing strong demand and better serve its dealers and customers”.
Tokyo on the rise, fear diminishes due to a resumption of inflation
Strong recovery session for the Tokyo Stock Exchange with investors reassured about the threat of a recovery in world inflation after the data on consumer prices in the US and the decline in bond rates. The Japanese market has appeared effervescent since the first trading and in the afternoon it consolidated its gains with the Nikkei index of 225 leading stocks which closed up by 1.46% at 28,550 points. A positive lead came from the close to the upside on Wall Street and the decline in the yen against the dollar, it pushed in the same direction, favoring the return of investors to the equities of the main Asian market. Among the titles in evidence Fast Retailing, giant of ready-to-wear fashion, awaiting the publication of the balance sheet data and the prospects for the next fiscal year after the closing of the list.
In China, producer prices jumped, a record for 25 years
Sharp jump in producer prices in China. Last month, according to data from the national statistics office, prices rose by 10.7% on an annual basis. This is the highest increase ever since the statistics were published (October 19996). The jump in September exceeds that of August (+ 9%) which had already set a record for 13 years. According to the Chinese statistical office, producer prices are affected by theincreased costs of coal and energy-intensive sectors. The price of coal increased in September by 74.9% compared to September 2020.