MILANO – European stock exchanges restart cautiously with the focus of investors focused on the publication of the minutes of the last meeting of the Fed’s monetary policy committee, on the growth of new infections in the world linked to the spread of the Delta variant. Little push comes from trading on Wall Street, with the US Stock Exchange which closed yesterday in contrast. TO Milano the Ftse Mib recorded + 0.45% at 25,338 points, Frankfurt after + 0.64%, Paris marks + 0.40% e London travel + 0.54%. Tokyo closes down on the Asian side with the Nikkei at -0.96%.
In terms of macroeconomic data, German industrial production disappointed expectations in May. According to data released a few minutes ago, production showed a monthly decline of 0.3% in line with the past reading (revised data from -1%), while the Bloomberg consensus indicated a growth of 0.5 percent. On an annual basis, the figure recorded an increase of 17.3% from the previous 27.6%.
Among the currencies, the euro is stable against the dollar and is trading at 1.1823 (-0.01%). The single currency also changed little against the yen, at 110.6. Few shocks also on the spread side: the BTP / Bund differential opens the session stable at 100.7 basis points compared to 101 at yesterday’s closing. The yield of the Italian 10-year remains stable at 0.74%.
The stalemate between the OPEC + countries, after the decision of the countries to cancel the meeting due to the inability to reach an agreement with the United Arab Emirates, which basically ask that the starting threshold for determining the production quota be revised upwards , continues to shake crude oil prices.After last night’s profit-taking, crude oil returns to rise: WTI is trading at 73.59 dollars a barrel (+ 0.30%), Brent at 74.69 dollars (+ 0.21%).
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