Home » The European stock exchanges await the ECB and promote the Fed, in Piazza Affari down Tim

The European stock exchanges await the ECB and promote the Fed, in Piazza Affari down Tim

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(Il Sole 24 Ore Radiocor) – The hope that the Federal Reserve’s aggressiveness will be able to keep inflation at bay without compromising the global economic recovery pushes the European stock markets, which confirm the bullish trend followed yesterday by Wall Street and in the night from the Asian squares. The US central bank has doubled the pace of tapering, the reduction in asset purchases, and now expects three interest rate hikes next year. The ball now passes to the ECB and the Boe, who will communicate their updates on monetary policy during the day. The FTSE MIB of Piazza Affari thus gains ground together with the other main lists. Among the main Milanese stocks, Telecom Italia in red after the new profit warning linked to the contract with Dazn on Serie A football.

As for the ECB, the market’s attention will focus in particular on the future of the ordinary (PSPP) and emergency (PEPP) buyback plans, which will also be crucial for the behavior of the Old Continent’s government bonds.

On the currency market, the euro strengthened to 1.1311 dollars from 1.1259 closing yesterday. The yen was weak, indicated at 129.08 for one euro (128.45 yesterday) and 114.11 for one dollar (113.74). The price of oil rose: the January WTI futures rose 1.17% to 71.70 dollars a barrel, while the February delivery on Brent rose 1.08% to 74.68 dollars.

Tokyo rose thanks also to the weak yen

Meanwhile, the Tokyo Stock Exchange closed with a sharp rise, which reacted positively to the monetary policy indications arrived yesterday from the Fed and benefited from the weak yen. At the end of the session, the Nikkei Index recorded a gain of 2.1% to reach 29,066.72 points. The broader Topix index also did well, ending the session with a 1.46% rise to finish at 2,013.08 points.

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