MILANO – Positive trend for the European lists in the last weekly session. Milano confirmed its rise and closed with a gain of 1.11%. Frankfurt salt of 0.44%, Paris 0.68% while London it lagged behind and stopped at -0.02%. At the close of the European markets, Wall Street proceeds mixed: the Dow Jones rises by 0.7%, the S & P500 by 0.3% while the Nasdaq slips negative by 0.15%. In the morning, Tokyo gained 0.78% while Shanghai it lost 0.58%. In Piazza Affari spotlight on Diasorin, who has launched a new test for Covid variants.
An important appointment of the day is the reading of the May PMI indices on the main economies of the Eurozone, indicators of the economic prospects for businesses. The recovery of the sector of services it brought composite indicators (which take into account manufacturing and the tertiary sector) to the top for ten months in France (57 points) and for two months in Germany (52.8 points). Any reading above 50 points indicates an economic expansion. The overall figure for the Eurozone is also positive: the composite index rises to 56.9 points (55.1 expected) with manufacturing at 62.8 against an expectation of 62.5 and the services index at 55.1 (52.5). On the Italian side, Istat data relating to industry turnover are positive, growing in March both on an economic and trend basis.
On the sidelines of the Eurogroup meeting, the president of the ECB Christine Lagarde reiterated that the recovery of the European economy has started, but it will manifest itself with different intensities between countries. “The recovery is there, and we will return to pre-2019 GDP levels in the course of 2022, but growth remains uncertain, leaves scars between economic sectors and between countries, and therefore many divergences, “said Lagarde
Among currencies, closing down on theeuro which ended the session below $ 1.22 in the 1.2190 zone. The single European currency also loses ground against the yen at around 132.75. The cross between the greenback and the Japanese currency travels just below 109. The spread between BTP and German Bund it closed at 116 basis points, with the Italian ten-year yield at 1.04%.
Bitcoin returns to collapse on the Chinese squeeze
The Bitcoin, on the classic roller coaster on news from the US and China, plunges back in the afternoon. To weigh on the prices of the main cryptocurrency is China which has confirmed that it will crack down on mining and trading activities with the aim of limiting financial risks. The Committee for Development and Financial Stability, chaired by Vice Premier Liu He, confirmed Beijing’s crackdown on cryptocurrency. Beijing, the body said, “will strongly oppose illegal activities on the financial market and is committed to maintaining the stability of the stock, bond and currency markets”. China’s “prudent” monetary policy, the committee stressed, “will be flexible, targeted and appropriate and will keep the yuan exchange rate fundamentally stable at reasonable and balanced levels.” Clarifications that come after the US Treasury announced a supervised surveillance on cryptocurrencies asking for the declaration on transactions over 10 thousand dollars, to avoid evasion. A mix that led Bitcoin, at the close of the EU markets, to drop again in a few minutes by more than 10 percentage points in the area of 38 thousand dollars.
Finally, among the raw materials Petroleum it is up in New York, where prices rise by 1.89% to 63.11 dollars a barrel.
.