MILANO – The European stock exchanges restart weak following a positive session which saw them position themselves close to their nine-month highs. However, it was the data on Chinese GDP that attracted the attention of the markets since the morning: the country recorded growth of 2.9% in the fourth quarter, better than expected, but which place growth in 2022 at +3%. at the lowest levels for over 40 years, especially in the wake of the problems related to Covid. The reaction on the Asian markets was mixed: Shanghai and Shenzhen closed at -0.1% and -0.03%, Hong Kong lost more than one percentage point while Tokyo it closed up 1.17%.
Weak start for European stock exchanges
Weak and uneven start for European stock markets after disappointing Chinese growth data, which exacerbates concerns about global economic prospects. In early trading, the FTSE 100 in London dropped by 0.12% to 7,850.80 points, the Dax in Frankfurt rose by 0.09% to 15,134.15 points and the Cac40 in Paris rose by 0.13% to 7,053 .82 points. In Piazza Affari, the Ftse Mib index gains 0.12% to 25,933.26 points.
Stable start for the euro
Stable start for the euro, which remains above 1.08 on the greenback. The single currency changed hands at 1.0815 dollars and 139.34 yen. The slowdown in US inflation in December continues to weigh on the American currency, opening the way for a slowdown in the monetary tightening initiated by the Fed. The greenback instead strengthens against the yen to 128.85 (+0.25%), awaiting the Bank of Japan’s executive meeting which tomorrow could announce the end of the current ultra-accommodative strategy
Upward departure for gas
Gas starts the session on the upside, with traders looking to the arrival of colder temperatures than the current ones. In Amsterdam the price rises by 2.8% to 57 euros per megawatt hour, at December 2021 levels
The spread opens higher
Start of the session slightly up for the spread between Btp and Bund. The differential rises to 184 points, compared to 183 at yesterday’s close. The yield on the Italian 10-year bond stands at 4.02% (+2 basis points).