MILANO – European stock exchanges cautiously rise. Yesterday, the reports of the last Fed meeting last month highlighted the concern of a consolidation of inflation, with the indication of a possible hike of 50 or 75 points in the July meeting. According to insiders, the most recent macro data would suggest a slight slowdown in the economy, which is why the Fed’s position may already have changed in the meantime. Since the last Fed meeting, a lot of economic data has changed, said Jim Paulsen, chief investment strategist at chief investment strategist at the Leuthold Group, “all of which suggests that what the Fed thought 30 days ago may not have meaning now.”
Europe remains positive in the afternoon, including the resignation of British Prime Minister Boris Johnson in the United Kingdom. In Frankfurt the Dax increased by 1.68%, in London the Ftse 100 was up by 1.19%, in Paris the Cac 40 rose by 1.58% and the Ibex 35 in Madrid by 1.94% . Milan is confirmed as the best in Europe with the Ftse Mib gaining 2.10%
In Asia, the Tokyo Stock Exchange concludes trading with a sustained increase, in the wake of the consolidation of the US stock markets. The Nikkei benchmark index rose 1.47% to 26,490.53, adding 382 points
Schnabel: “High volatility, but only Italy and Greece spreads have risen”
“The risks related to the pandemic have subsided but the war continues to be a significant downside risk to growth. In particular, a major risk would be a further disruption in energy supplies to the euro zone.” This was stated by the chief economist of the ECB, Philip Lane, during the board meeting on 9 June.
“Furthermore, should the war escalate, economic sentiment could worsen, supply-side constraints could increase, and food and energy costs could remain high more sustainably than expected,” Lane added.
Lane (ECB): Stopping gas would be a big risk for growth
“The risks related to the pandemic have subsided but the war continues to be a significant downside risk to growth. In particular, a major risk would be a further disruption in energy supplies to the euro zone.” This was stated by the chief economist of the ECB, Philip Lane, during the board meeting on 9 June.
“Furthermore, should the war escalate, economic sentiment could worsen, supply-side constraints could increase, and food and energy costs could remain high more sustainably than expected,” Lane added.
ECB, on the board some opposing graduality in the rate hike
During the meeting of the ECB on 9 June, some board members expressed “different views on the need and interpretation of gradualness” in the rate hike, because “it could be misleading” if interpreted as “an adjustment pace that is too slow or too slow. rigid “in the stance of monetary policy. In particular, for some it is necessary to avoid that gradualness precludes “increases in interest rates of more than 25 basis points”. This is what is read in the reports of the meeting of 8-9 June published by the ECB.
Germany halts industrial production
German industrial production slowed in May: in the month it grew by 0.2%, against analysts’ average expectation of a 0.4% increase and a rise in April (revised) of 1.3%