MILANO – The European stock exchanges are still falling again on a day entirely projected on today’s meeting of the ECB’s board of directors and on the subsequent press conference by President Christine Lagarde. On the table is the possible reduction in the pace of monthly purchases of the Pepp program, the securities purchase plan launched during the pandemic, after the first voices were raised among the Frankfurt “hawks” in favor of a possible slowdown. aid from the Central Bank. London yields 0.7%, to Milano the Ftse Mib index marks -0.63%, Frankfurt moves back by 0.9% e Paris 0.75%.
The indications from the Fed’s Beige Book also contribute to weighting the lists, indicating the slowdown in the US economy due to the Delta variant and the slowdown in Asian prices, linked to the sharp slowdown in inflation in August (+0.1 % on a monthly basis from + 1% in July). Tokyo is also in trouble, with the Nikkei closing at -0.57%.
Among the currencies, the euro is stable at the start of the day against the dollar and is worth 1.1817 dollars with a variation of + 0.01%. The spread between BTPs and Bunds is also not very smooth, opening stable at 107 basis points, with the yield standing at 0.752%.
Few shocks also for the price of oil: the barrel with delivery in October is worth $ 69.31, with a minimum variation of + 0.01%. Brent rose a little more, at 72.71 dollars (+ 0.15%).
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