MILANO – The European stock exchanges, returning from four consecutive sessions on the rise, start again in the positive but soon the optimism is deflated. At first, it was the data from the American quarters that gave the spitna: yesterday it was the turn of Netflix, which closed the penultimate quarter of the top with a growth of 2.4 million subscribers, more than double those expected, which offered encouraging signals on the streaming company’s prospects. As the minutes passed, however, uncertainty took over, waiting for the indications contained in the Beige Book that the Fed will publish this evening and with eyes always focused on the price rush: among the data for the day, inflation stands out British, which rose in September to 10.1% and above expectations, marking the most marked rise in prices among the G7 countries.
The markets were also stirred up by Biden’s announcement overnight of the release of 15 million barrels of oil from US strategic reserves. A move to contain the increase in prices, after the Opec + cartel of producers in recent weeks decided on a new cut in production precisely to support the prices of the commodity, despite the fact that the US president was very opposed to this. Gas prices, on the other hand, are still falling, following the green light of the Commission’s proposal on expensive energy and while Europe is facing a wave of high temperatures that could avert the risk of a cold winter.
Europe is losing its shine, indices below par
The momentum of the European stock exchanges is extinguished, which after four consecutive sessions of increases are now recording slight decreases. In Piazza Affari the Ftse Mib fell below par and marks -0.38%. Negative also Frankfurt (-0.42%), London (-0.34%) and Paris (-0.32%). The largest falls are in the commodities and retail sectors, as investors continue to monitor inflation developments, after UK consumer prices rose 10.1% annually in September, equalizing the level. maximum of 40 years already registered in July.
Asian stock exchanges close mixed, Hong Kong loses 2.4%
The Asian stock exchanges ended the session in no particular order, after the second closing higher for Wall Street in the wake of the better-than-expected quarterly. In Tokyo, the Nikkei gained 0.37% to 27,257.38 points and the Topix up 0.19% to 1,905.06 points. In China, Shanghai loses 1.19% to 3,044.38 points and Shenzhen loses 1.16% to 1,981.84 points after the announced delay in GDP data, which exacerbated an already very uncertain outlook for the second. world economy.
Hang Seng thud in Hong Kong at -2.36% to 16,515 points, after three sessions in a row on the rise, under the pressure of the uncertainties of the Communist Party congress in China. Risk appetite was also dragged down by the intensification of recession fears; The first political speech by Hong Kong’s new chief executive, John Lee, was not enough to lift sentiment, as he announced initiatives to attract investment, relax visa rules and foreigners’ property taxes.
Europe starts slightly up
Equity markets on the Old Continent generally just above par at the start of the day: London opened up 0.1%, with Paris and Frankfurt up 0.2%. More toned Amsterdam (+ 0.8%), while Madrid drops by 0.1%
The decline in gas continues: close to 100 euros
The fall in the price of gas on the Amsterdam market, the benchmark for Europe, continues: the methane future expiring in November opened with a decrease of 5% to 107 euros per megawatt hour. The gas thus starting trading still corrects the lows since mid-June.
Euro slightly lower against the dollar
Euro slightly lower this morning on the foreign exchange markets: the single European currency is trading at 0.9837 down 0.22% compared to the prices last night in New York. On the other hand, the euro rose slightly against the yen to 146.9.
The spread opens slightly down
Spread between 10-year BTPs and Bunds marginally reduced at the start of the session: according to the Bloomberg platform, the spread is at 239 basis points against 240 at yesterday’s closing. The yield on the Treasury product is 4.7%.