Of Giorgia Colucci e Martina Soligo
The Nikkei jumped 5.6% in the full week as the Bank of Japan began normalizing its monetary policy
2′ reading
(Il Sole 24 Ore Radiocor) – They move cautiously European stock exchanges after the rally the day before, driven by the new ones Wall Street records and by the belief that the restrictive monetary policy of central banks will soon begin to ease. Investors are therefore looking for signs that strengthen the prospect of a first rate cut in June. On the macro front, we await the Ifo index on the business climate in Germany and speeches from ECB chief economist Philip Lane and Fed president Jerome Powell.
Thus they travel with caution FTSE MIB of Milan, the CAC 40 of Paris, the DAX 30 of Frankfurt, theAEX of Amsterdam, theIBEX 35 in Madrid.
In Milan, Enel goes down after the accounts, the banks also do badly
At Piazza Affari, he gets off Enel following the presentation of the accounts for the 2023 financial year. The banking sector in general is doing poorly, with Banca Mps e Banca Pop Sondr . In coda Stmicroelectronics e Brunello Cucinelli . The energetic ones rise with Snam Rete Gas e Italgas While Iveco Group positions itself at the top of the list.
Spread rising to 129 points area
Slightly rising spread between BTp and Bund at 129 basis points, two more than the previous day’s closing of 127 points. The yield of the benchmark ten-year BTp increased slightly to 3.67%, from 3.66% at yesterday’s closing.
The dollar strengthens, oil falls
On the currency side, the dollar strengthens with the euro/dollar exchange rate hovering around 1.082 (from 1.0860 the day before). Oil prices fell slightly with WTI above 80 dollars a barrel and Brent above 85 dollars. Natural gas traded in Amsterdam also drops above 26 euros per megawatt hour. Gold, after hitting the day before price of 2,200 dollarsremains below the historical record threshold.
Tokyo closes on the rise and hits a new record
The Tokyo stock market closed at a new high, supported by the weakness of the yen, a factor that helps the stocks of exporting companies, and by the new records reached the day before on Wall Street. In Tokyo, the flagship Nikkei index gained 0.18% over the session, closing at 40,888.43 points, a new all-time high. After recording a notable rise in the previous three sessions, the Nikkei jumped 5.6% for the entire week, during which the Bank of Japan (BoJ) began normalizing its monetary policy without panicking investors, reassure yourself about the accommodating financial conditions that the institution intends to maintain for a long time.
Inflation accelerates in Japan in February
Inflation accelerates in Japan. Last February, consumer prices, excluding fresh products, increased by 2.8 percent. A surge that derives above all from the dissipation of the effect on an annual basis of government measures to reduce energy bills. The increase in consumer prices is in line with economists’ consensus expectations. Excluding energy, inflation slowed for the sixth consecutive month, to 3.2 percent.