MILANO – 1.10 pm The European stock exchanges react positively to the decisions of the ed. Yesterday, the US central bank announced that starting from November, the reduction in asset purchases, the so-called tapering, will start and from 2022 a gradual rate increase path will also begin. Indications that did not scare Wall Street, where yesterday the main indices closed higher, and which today instead support trade in world markets.
Milano salt by 1%, London grows by 0.09%, Frankfurt 0.64% e Paris 0.65%. The macroeconomic data released in the morning was disappointing: the German composite pmi index fell to 58.5 from 62.6 and below expectations, as did the data for services dropped to 56 from 60.2 expected. The overall figure for the Eurozone also slowed, with the manufacturing PMI falling in September to 58.7 from 61.4 in August and to a 7-month low.
In Asia, the headlights are still on Evergrande. The Chinese real estate giant, the protagonist of a collapse of almost 80 percentage points since the beginning of the year, today became the protagonist in Hong Kong of a recovery of 17.92% points, after the company yesterday announced the payment of the interest of an issue for a total of 35.9 million dollars. Still during the day, however, new clouds have gathered on the prospects of society. According to reports from the Wall Street Journal, the Beijing authorities have warned local officials to prepare for a “possible storm” linked to the default.
The Fed out of the emergency, in 2022 the first rate hike
by our correspondent Federico Rampini
Among the currencies, the euro rises above 1.17 after the meeting of the Fed and it changes hands at 1.1709 dollars and 128.57 yen. The dollar / yen exchange rate is stable at 109.81. The BTP-Bund spread is slightly up: the differential opens at 100 basis points, compared to 98 points at yesterday’s closing, with the Italian 10-year yield rising to 0.68%.
On the commodities side, the growth of the Petroleum: WTI crude oil contracts rise again by 0.36% to 72.49 dollars a barrel. Brent prices also increased by 0.38% to 76.48 dollars per barrel.
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