MILANO – Weak start for European stock exchanges. On a day lacking in insights on the macroeconomic data and appointments front, the markets are still feeling the effects of the weak closing of Wall Streetwhich yesterday recorded better-than-expected data for US services, triggering fears that this could support the maintenance of a highly restrictive monetary policy by the Fed. The spotlights are on next week, when the central bank could raise rates by 50 points, however slowing the pace compared to four consecutive 75-point hikes.
In Asia, Tokyo recovers towards the end of the session after an uncertain start and marks an increase of 0.24%, to 27,885.87, with a gain of 65 points. On the foreign exchange market, the revaluation of the yen against the dollar stopped, at a level of 137.20, to the advantage of heavily exporting companies.
Euro up against the dollar
Euro up at the start of the markets. The single currency trades at 1.0511 against the dollar. In Asia, the yen changed hands at 136.58.
The spread opens higher
Opening up due to the differential between Italian BTPs and 10-year German Bunds, which rises to 187.3 points against the 186.5 points of the previous closure. The Italian annual yield grew by 3.1 points to 3.769%.