MILANO – 10:00 am. The words of the number one of Modern, which al Financial Times said current vaccines will have a hard time shielding us against Omicron, scare investors. In fact, there was a sharp decline in the session for the European stock exchanges: a London the Ftse 100 index fell 1.04% to 7,035 points, a Frankfurt the Dax loses 1.07% to 15.117 points while a Paris the Cac 40 moves back by 1.43% to 6,679 points, going hand in hand with the Ftse MIb of Piazza Affari (-1.46%).
As happened on last week’s Black Friday, oil also recorded a backlash and, in a session that seemed to be oriented to the upside, reverses course: futures on Brent crude oil fell by 2.5%, to $ 71.62 a barrel , those on the WTI of 2.4% to 68.27 dollars a barrel. Meanwhile, expectations are growing that OPEC + will postpone the increase in crude oil production at next week’s meeting: these rumors had given breath to the prices of black gold, but the news this morning depressed the mood of investors.
In general, the film seen on Friday is back on the air with the S & P500 futures yielding more than 1% and the US Treasuries, identified as a safe haven asset, which see yields fall below the levels touched in the last session of last week: it means that prices, which move in reverse, are rising rapidly. Fed chairman Jerome Powell also, he said the variant posed a risk to both monetary policy objectives: price stability and full employment. According to observers, the new wave is postponing the theme of the rate hike.
In the morning the Asian lists have already paid the account of the uncertainty: the B.bear of Tokyo reversed course during trading and after rising in the morning, the Nikkei index closed down 1.63% at 27,821.76 points, the lowest level since 7 October; the Topix index fell by 1.03% to 1,928.35 points. The Tokyo square was well oriented in the morning, following in the footsteps of Wall Street whose concerns about the covid dissipated yesterday; but the indices plummeted after the FT’s publication of Moderna’s interview with Stephane Bancel, who believes the current vaccines are less effective against the Omicron. On Chinese stock exchanges, the hang seng index of Hong Kong it lost 2.1% just before closing; Shanghai and Shenzhen were close to equilibrium.
It spread between ten-year BTPs and German homologous Bunds opens down to 129.3 points. The yield on Italian bonds drops to 1%. The day was rich from a macroeconomic point of view, with data on GDP and inflation in Italy and other countries. The French GDP in the third quarter it was confirmed at 3% compared to the previous three months and after a progress of 1.3% in the second quarter. Disappointment instead come on consumption by French households which decreased by 0.4% in October compared to + 0.2% in September. Analysts had expected an unchanged figure. Tension on the front of the prices: producer prices in France they jumped in October by 14.9% compared to the same month of 2020 and by 2.9% compared to September. According to the preliminary reading released this morning, however, consumer price inflation increased by 2.8% on an annual basis compared to 2.6% in the past reading and consensus. Bloomberg.
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