MILANO – 2.00 pm The fears of inflation coupled with the slowdown in economic growth keep European stock exchanges in check, which are moving weakly as well as futures on Wall Street. The spotlight is already on the ECB board meeting scheduled for tomorrow. From the Central Bank, which will also communicate the new inflation estimates, no decisions are expected on the rate front, given that the markets are expecting an upward adjustment, the first in ten years, with the July meeting. On the European side, there are new signs of weakness from the German economy. In April, industrial production grew on a monthly basis by 0.7% against the + 1% expected by analysts. On the other hand, production decreased by 2.2% over the year.
In Europe, after a positive start, in the early afternoon the indices are in red: Milano drops by 0.55%, London slips by 0.45%, Frankfurt 0.5% e Paris 0.7%.
The Asian stock exchanges, on the other hand, were able to take advantage of the wake of the positive closure of Wall Street last night, after the Thai central bank left the rates unchanged. Tokyo ended the session at a two and a half month high, with the tech sector up and energy positive thanks to the increase in crude oil prices: + 1.04%. Chinese markets also closed at a two-month high: the index Shanghai Composite advanced 0.68% to 3,263.79 points, the highest close since April 6. The Hang Seng of Hong Kong it was up 2.22% to 22.009 points while Seoul’s Kospi finished trading slightly.
The dollar cools and the Fed bankers don’t see it clearly
by Giovanni Pons
Lo spread between BTP and German Bund it moves up and after opening at 210.4 points it now stands at 212.2. The 10-year rate rises to 3.464%. Euro growing against the dollar and back above the 1.07 threshold: the single currency is trading at 1.0733 against the greenback. The euro also rose against the yen to 143.72.
The Chinese restart after the easing of anti-Covid measures continues to support oil prices. WTI crude oil rises to $ 120.12, 0.59% higher than last night’s values in New York. Brent also grew, exceeding $ 121 to $ 121.1 per barrel (+ 0.45%). Gold prices rose slightly: on the Asian markets the bar with immediate delivery changed hands at 1,849.6 dollars per ounce, up by 0.15%.