MILANO – European markets end the week higher after China recorded a record recovery in the first quarter of 2021, with a jump in GDP of 18.3% driven by the recovery in domestic and external demand and government support for small businesses. The number recorded today is the highest increase since 1992 – when China began periodic registrations – although it remains just below expectations of 19% growth for the first three months of the year.
The increase, on an annual basis, compares to the historic collapse of the first three months of 2020 (-6.8%), when the Chinese economy was crushed by the closures for the control of the Covid-19 pandemic, which occurred first in the Asian country. On a cyclical basis, growth was 0.6% in the first quarter of 2021, below expectations of + 1.5%.
The European stock exchanges all ended positively as mentioned: Frankfurt salt of 1.42%, London 0.5%, Paris 0.85% e Milano if it ferments at + 0.88%. It spread between BTP and German Bund closed stable just above 101 points, theeuro it is trading at 1.1979 against the dollar. The Treasury has announced the minimum rates for the next BTP Futura to be placed since Monday.
Chinese data left Asian stocks predominantly higher, despite analysts’ concerns that Beijing’s pace is slowing significantly. Tokyo salt of 0.15%, Hong Kong adds 0.8% e Shanghai 0.7%. Wall Street has weak futures after closing last night, in which the Dow Jones for the first time rose over 34,000 points.
Istat, in Italy, has estimated a cyclical growth for trade flows with foreign countries, more intense for imports (+ 1.4%) than for exports (+ 0.3%). The trade balance surplus is 4.7 billion. Encouraging signs from Bank of Italy, which in its monthly economic bulletin indicates that growth in 2021 could be more than 4% and in any case more than 3.5% estimated in January. From Fitch instead comes a warning on the Italian public debt: according to the rating agency, our country will need a decade to regain the levels prior to the pandemic.
Among the raw materials, the prices of Petroleum they are slightly down in the afternoon. At Nymex, WTI futures lost 0.80% to $ 62.95 a barrel, while Brent futures fell 0.52% to 66.59.
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