MILANO – Uncertain futures at the reopening of European markets, in a week in which central banks resume the scene with appointments both on the Fed (minute) and ECB (advice) front and the ghost of inflation hovering over the economic recovery.
The Asian stock exchanges moved in no particular order. The optimism for the global recovery collides with some restrictions that for example have arrived in Taiwan, while in Japan some voices are raised asking to postpone the Olympics in order not to risk. Shanghai and Hong Kong move higher, Tokyo closed down 0.92%.
It spread between BTP and German Bund opens slightly below 120 points. At the start of the week, the Italian 10-year yield stands at 1.05%. Stable departure foreuro which trades at $ 1,213.
Macro data from China they say of an economy still in strong recovery, albeit below market expectations. Economic activity settled at a more moderate pace in April compared to the record first quarter expansion, while retail sales nearly halved the boost to 17.7% annually. There industrial production, according to data from the National Statistics Office, it increased by 9.8% compared to April 2020, slowing down on 14.1% in March, but finding itself substantially in line with the consensus of analysts (about 10%). Rising commodity prices also slowed the pace. On the consumption side, however, the retail sales grew by 17.7%, much slower than the 34.2% in March and expectations of 24.9%: the increase is the ninth monthly in a row, but the weakest step since December 2020, with internal demand in consolidation after the collapse of last year in the middle of the Covid-19 pandemic.
The saga that connects Elon Musk, founder of Tesla, with the world of cryptocurrencies continues. After reversing on the acceptance of bitcoin for the purchase of his cars, for reasons of environmental impact, he still hinted on Twitter that he had downloaded his wallet of the queen of cryptocurrency. “The holders of Bitcoin – Bloomberg reconstructed quoting what user @CriptoWhale wrote – will slap each other next quarter when they discover that Tesla has given up the rest of their Bitcoins. Elon Musk is receiving, I do not blame him … “. Musk’s comment is ready:” Indeed .. “, as if to confirm the thesis of the user to which he replied. The fact is that bitcoin has come to slip below 44 thousand dollars , to then rise slightly but still remain 20 thousand dollars away from the peaks of April.
Among the raw materials there are prices of Petroleum stable at the start of the week, after the resumption of the Colonial Pipeline service, victim of a cyber attack, and on the other hand after the new restrictions in Asia due to the increase in Covid-19 cases. Crude oil prices rose nearly 2.5% on Friday, posting the third consecutive weekly increase. On the electronic circuits, the WTI marks + 0.03% at 65.39 dollars a barrel and the Brent -0.01% at 68.70 dollars a barrel. The price oforo: the metal with immediate delivery is trading at 1853 dollars an ounce (+ 0.56%).
.