MILANO – Positive futures for European lists and on Wall Street, after the Asian stock exchanges finally raised their heads after four sessions of weakness. Today is one of those days that can be characterized by high volatility, because there is a quarterly maturity of futures on indices and options on indices and shares: the so-called “three witches“.
In Asia, Tokyo closed with a recovery of 0.58%, Alone salt of 0.15% e Hong Kong 0.37%. The case remains open Evergrande which collapses again on the Hong Kong Stock Exchange, accusing close to the trading pause a thud that touches 13%: -12.93%, at 2.29 Hk dollars. The headlines discount an editorial by Hu Xijin, director of the Global Times, according to which the company, grappling with a very serious financial crisis, should not bet on the government bailout as it considers itself “too big to fail”, but use the means of market to save himself. Hu added in the intervention on his WeChat account that he does not see systemic risks. In Shenzhen, meanwhile, protests by small investors continue around the company’s headquarters.
Today’s macro agenda foresees the final reading of inflation in the Eurozone for the month of August, which should be revised to 3% from 2.2% of the preliminary estimate. In the afternoon from the United States the consumer confidence elaborated by the University of Michigan will arrive. Last night, despite the positive macro data, Wall Street it closed mixed with the Dow Jones down 0.18%, the S & P500 down 0.15% and the Nasdaq up 0.13%.
Among currencies, theeuro opens down below $ 1.18. The European currency changes hands at 1.1774 dollars and 129.33 yen. Dollar / yen advanced to 109.85. The surprising increase in US retail sales, which confirms the strength of the recovery, has reinforced expectations of a short-term start of tapering, the reduction of aid to the economy, pushing up bond yields and triggering a wave of sales in the technology sector. Investors are therefore looking with awe at next week’s Fed meeting from which indications in this direction could emerge.
On the European side, a report from the Financial Times for which the ECB will hit the inflation target of 2% in 2025 and therefore could raise interest rates in 2023, a year earlier than expected. There ECB called it “inaccurate,” according to the agency Bloomberg: “The FT’s conclusion that a rate hike could happen as early as 2023 is not in line with our guidance,” adds Frankfurt. The spread opens stable at 98 points with the Italian ten-year yield at 0.69%.
The price of the Petroleum is down this morning on international markets. The American WTI marks 72.36 dollars, with a decrease of 0.34%. Brent quoted in London marks -0.30% at 75.44 dollars a barrel.
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