MILANO – The European stock exchanges closed positively with the exception of Milan, following the reassurances coming from Fed, which confirmed its intention to maintain a very accommodative policy for a long time but said it was “ready to adjust the monetary policy stance in the event of risks that could hinder the achievement of the inflation targets”. According to the US central bank “it will take some time before we have” substantial progress “on price stability and employment.
Weakened in the middle of the day, Milano it eventually lost 0.66%. Better the others: London rose by 0.86%, Frankfurt 0.25% e Paris 0.57%. The annotations of the ECB: from the minutes of the meeting of the board of directors of 10 and 11 March it emerges the fear that the recovery could start later than expected. On the part of some participants – the minutes read – “the question was raised whether it is realistic to assume that the measures of social containment are reduced already in the second quarter”. Some participants also noted that “depending on the evolution of the pandemic, the weakness of economic activity could continue into the second quarter and beyond”.
Opposed Wall Street: at the close of the European markets, the Dow Jones lost 0.1% while the S & P500 rose by 0.2% and the Nasdaq by 0.9%. Surprisingly, the new unemployment benefits increased by 744,000 from 720,000 last week, compared with a decline to 680,000 expected by analysts. Mixed stock market performance also in Asia, where Tokyo it stopped at -0.07%.
L’euro closed higher on the 1.19 dollar mark. The greenback lost ground in the afternoon after the surprise surge in new weekly jobless claims. The dollar index has been at a two-week low. The exchange rate between the US currency and the yen fell to 109.26, losing further ground after hitting 111 at the end of March. The Japanese currency also gained ground against the euro at around 130. Lo spread finished slightly below 100 points.
Btp at 50, the state’s “Methuselah” wins over investors
by Vittoria Puledda
Among the macroeconomic data, German orders recorded a greater-than-expected increase in February. According to the Berlin Bureau of Statistics, they grew 1.2% month-on-month in February, above expectations, and 5.6% year-on-year.
After the data on US inventories, with oil prices falling more than expected and gasoline prices rising by surprise, the prices of the Petroleum. On the Asian markets, futures on Light crude WTI fell by 0.5% to $ 59.47 and those on Brent by 0.4% to $ 62.91.
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