Home » The stock exchanges today, May 19th. Fears of inflation hold back the lists, China cuts down on Bitcoin

The stock exchanges today, May 19th. Fears of inflation hold back the lists, China cuts down on Bitcoin

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MILANO – 9:10 am. It promises to be a weak day for the equity markets, following the closing in the red on Wall Street (Dow Jones -0.8%) while oil retraces from the peaks of 70 dollars touched in the past few hours. Milano starts trading with a loss that immediately exceeds 1%, with banks and heavy oil. The others are also in red: Frankfurt loses 0.8% e Paris 0.6% in the early stages.

On Piazza Affari the case stands out Technogym which collapsed by 10% after the patron of the fitness group, Nerio Alessandri, again made cash by selling, through the Tgh holding company, a package of almost 6% of the fitness equipment group, from which he collected 129.7 million euros. The price slipped to below € 10.81 for the placement. In the note that announced the transaction, Tgh underlined the objective of making Technogym a public company, a hypothesis that could lead to new sales of shares, considering that Alessandri holds over 33% of the capital and over 50% of the voting rights . On the Tgh share it has undertaken a 90-day lock-up commitment.

Markets await the minutes of the last meeting of the Federal Reserve to find some further clues on expectations regarding inflation and the US central bank’s counter-moves on rates. Precisely the price rush is the number one danger for investors, at least according to the latest poll that Bank of America led among managers and put inflation first among the perceived risks, in the face of a collapse of the bond market, the burst of some financial bubbles and, only in fourth place, Covid 19. And signals in this direction came from Great Britain, where inflation more than doubled in April, at the top since last year: prices advance from 0.7% annually in March to 1.5%. Driving costs are clothing and energy costs.

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Already in Asia, the session had been negative: Hong Kong and Seoul closed, Tokyo recorded a decline of 1.28% e Shanghai loses 0.6%. Fears related to a surge in coronavirus that weighs on the Japanese economy also weigh on Japanese trade. In March, the country’s industrial production rose by 1.7% on a monthly basis, according to the final reading of the figure, revised downwards from the 2.2% growth initially reported. On an annual basis, the country’s industrial production rose by 3.4%, again revised downwards compared to the + 4% of the preliminary figure. The assurances of the Governor of the Bank of Japan (BoJ) were not enough to reassure investors.

Among the currencies, the dollar hovering close to the lows of the year against a basket of competing currencies. L’euro in fact, it opens higher and changes hands at 1.2233 dollars and 133.28 yen. Dollar / yen rises to 108.95. The Bitcoin and other cryptocurrencies in the meantime they have suffered again, this time due to an official release of the Central bank of China (Pboc) which reiterated the position that digital currencies cannot be used as a means of payment. For the first time since February, the queen of virtual currencies thus slipped below $ 40,000, dropping 10 percent. Pboc has – to tell the truth – conveyed on its official WeChat channel the position of National Internet Finance Association of China, China Banking Association and Payment and Clearing Association of China, the three authorities responsible for supervising banks and the banking industry. payments, which asked not to use cryptocurrencies for any operations, including trading and converting fiat currencies into digital currencies. As the experts gathered by Bloomberg there are no legislative innovations in the communication of the PBOC: the message is a call to prudence. But that’s enough for Bitcoin to now find itself a third below the $ 65,000 that it had cherished at its recent peak, with Ether and Dogecoin – the ‘hot’ currencies of the moment – all down by double digits.

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In addition to the minutes from the Fed, public speeches by representatives of the ECB and the US central bank are scheduled to reveal some orientation of the governors and expect data on prices from the Eurozone. Lo remains at 121 basis points, in line with yesterday’s close spread between the ten-year BTP and the German Bund. The yield on the Italian government bond increased slightly, passing from 1.105% yesterday to 1.119% this morning.

As mentioned, they retrace the prices of the Petroleum on the data of an increase in stocks and in view of the resumption of negotiations with theIran on nuclear power. WTI crude oil fell by 1.08% to $ 64.78 per barrel; Brent fell 1.03% to 68 dollars.

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1 comment

Scott December 2, 2021 - 7:15 pm

More investigation should be done on CEO of technogym. The real character and work culture behind the scene

Reply

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