Home Ā» Stock exchanges today, 28 July 2021. Positive EU lists awaiting the Fed. Asia at its lowest since December

Stock exchanges today, 28 July 2021. Positive EU lists awaiting the Fed. Asia at its lowest since December

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MILANO – 11:30 am. The Europeans bring themselves to the positive in the day of Federal Reserve: the American Central Bank is called to extricate itself amid the growing pressure of some governors to accelerate the withdrawal of stimuli and the rise in rates, due to the risk of inflation, and fears that the Delta variant could slow down the recovery of the economy while the work has not yet returned to full capacity. According to Unicredit analysts, the FOMC, the monetary policy arm of the FEd, will not touch rates, the pace of purchases of the quantitative easing and indications on monetary policy. The committee will formally begin to talk about the reduction of stimuli, “but we do not expect any clear indication on the timing and composition of the tapering”, which is precisely the gradual closing of the taps.

There are other factors acting on the markets: in Asia it continued the route of the Chinese price lists, in particular, triggered by the regulatory tightening imposed by the authorities on certain sectors such as tech and private education. And the quarterly reports of Big tech, which recorded a sea of ā€‹ā€‹profits, were actually read in some cases with the lens of prudence: after the rally in stocks by giants Google, Apple and Microsoft, some believe that the pace of growth will have to calm down in the coming quarters.

In the Old Continent, while the futures on Wall Street turn positive, the stock exchanges put themselves in a cautious rise: Milano salt by 0.54%. On the Milanese price list, Carige enters trading at ā‚¬ 0.8 and is stopped at auction at + 26%. Tim is positive after the accounts while Moncler is negative. In the rest of Europe, Paris salt by 0.8%, Frankfurt 0.25% e London 0.2%.

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The MSCI Asia Pacific index fell to its lowest level since last December with further losses a Shanghai (-0,58%) e Shenzhen (-0.78%) while Hong Kong found a rebound (+ 0.7%). Unlike the last few sessions, when it had gone up against the tide, even the stock market of Tokyo this time it gave way and marked a final 1.39% decline.

Apart from the Fed, today’s macro agenda includes Istat data on consumer confidence (at the top since 2018) and business confidence (at the highest ever) for Italy. The trade balance arrives from the United States in June. German consumer confidence remains stagnant: the Gfk index stood at -0.3 points in August, unchanged compared to July, when it reached its highest level since August 2020, interrupting the improvement observed in the previous months. An intense day on the corporate front, where numerous quarterly reports are expected, including Facebook, McDonald’s and Pfizer in the US. Prysmian accounts and Tim’s conference call are scheduled at Piazza Affari.

L’euro it is substantially stable at the start of the day on the foreign exchange markets: the single European currency changes hands at 1.1818 dollars (+ 0.01%) and 129.78 yen (+ 0.05%). Little moved too spread which is 106 basis points. The Treasury has placed 7 billion Semi-annual bots: yield rates fall to new historical lows, settling at -0.524% from -0.521% at the auction at the end of June. The maturity of the securities is set for January 31, 2022.

Among the commodities, the prices of the Petrolium they reverse course and travel upwards on the Asian markets. Industry data found that U.S. crude oil inventories fell more-than-expected last week, reinforcing expectations that demand will outpace supply growth even in the midst of the new wave of Covid-19 contagions. Brent crude oil futures advanced 0.4% to $ 74.86 a barrel. West Texas Intermediate (WTI) crude futures gained 0.5%, at $ 71.98 a barrel. Quotations oforo uphill on international markets. The precious metal is trading at $ 1,811 an ounce, gaining 0.39%.

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