European stock indices are slightly up, while the American greenback remains weak on the statements of the vice president of the Fed, Richard Clarida, according to which the pressure on prices should be transitory but in any case the American central institution is ready to discuss how intervene in the securities purchase program without compromising the recovery in progress. Inflation therefore remains at the center of the markets’ attention, after the sluggish session on Tuesday 25 May. Gold on the rise
above $ 1900 an ounce at its highest since January, while oil is stable.
On Tuesday, the European equity markets went through a colorless session, with the exception of Frankfurt, where the Dax index closed at + 0.18% and updated its historical record also thanks to the better than expected data on business confidence. , which has risen to the highest levels in two years. The FTSE MIB in Piazza Affari instead fought for a long time against the psychological threshold of 25 thousand points to finish at the levels of the eve (+ 0.01%). On the other hand, Wall Street was weak, conditioned not so much by fears for inflation as by data below the estimates on US consumer confidence in May.
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Spread under control, watch out for auctions
On the other markets, it should be noted that purchases on Eurozone government bonds have returned. The resulting drop in rates benefited, more than others, the Italian BTps, whose 10-year yield has returned below the psychological threshold of 1% to then close at 0.97 per cent. the spread with the Bund also fell to 113 basis points. To follow the auction of BTp Short term and BTp-i at 10 years for a total amount of up to 4.75 billion.
Tokyo closed with a slight rise in the session without starting points
New positive session for the Tokyo Stock Exchange. After an uncertain start and despite the ‘red’ on Wall Street, the Japanese price list has returned to appreciate and there are those who point to the disappearance of fears about a resumption of inflation in the United States among the reasons for the appreciation of prices. The US macro data on the eve, disappointing for the prospects of the world‘s largest economy, did not benefit the Japanese market. Among the titles, in evidence Sony which announced strategic investments of 2 trillion yen (about 15 billion euros) in the three-year period (April 21 – March 2024) especially in the entertainment sector (video games, cinema, music) with the aim of increasing its number of consumers. Meanwhile, the debate in Japanese public opinion continues on whether to cancel the Tokyo Olympics, with the inaugural ceremony scheduled in less than two months after an important newspaper, partner of the event, spoke out against the holding of the games for the risks related to the Covid-19 pandemic. The Nikkei index of 225 leading stocks closed at 28,642 points up 0.31 percent.