MILANO – 11:00 am. Volatile week start for equity markets after the president of the European Central Bank Christine Lagarde turned to investors in an interview with Bloomberg TV to say that the new guidelines on monetary stimuli will be adopted within 10 days, then in the next meeting of the ECB scheduled for 22 July and signaled that new measures to support the economic recovery, after the extraordinary securities purchase program will come to an end (in March 2022). In particular, as announced in recent days, the guidelines on how to establish inflation targets will change and will be more flexible and “symmetrical” around 2%.
A Milano the Ftse Mib is flat after a positive start. Amplifon runs on the main basket of Borsa Italiana after an acquisition in Australia; Banks and manufacturing are generally weak, but Prysmian rises after Stifel raises the target price. Weak the others: Frankfurt it’s flat, Paris loses 0.3% e London 0.4%.
On the monetary side, the euro against the dollar is barely moved at 1.1871. Also unchanged spread between BTP and Bund to 104 points with the yield of the Italian ten-year at 0.75%.
The Chinese stock exchanges closed the session in positive territory: the Composite index of Shanghai rises by 0.67%, to 3,547.84 points, while that of Shenzhen gains 1.98%, at 2,485.15. Rally for Tokyo which marks a jump of 2.2%.
The prices of the Petroleum, who had closed the week down, confirm the negative pitch. On the Asian markets, Light crude Wti fell by 0.75% to 74 dollars and those on Brent by 0.78% to 74.98 dollars. The stalemate at OPEC + weighs heavily, which would have even worse consequences, combined with fears for the Covid variant, if weekly oil stocks in the US had not decreased higher than analysts’ estimates.