MILAN – Hours 12:20. timid European markets in the wake of the recovery of the Italian banking stocks and Chinese inflation. Milan after opening in fall, he has turned in a positive and accelerated to + 1.2%. The weaker the other: Paris halls of 0.4%, Frankfurt 0.9% and London is firm on equality. Recovering the raw materials: copper has climbed from its closed to its lowest since February and even gold has continued its run upward. Oil, for the first time this month, he returned to exceed the threshold of $ 40.
Square Business are expected news on the front of the banks: the representatives of the banking world and the Treasury are to work for the sprint to the creation of a Fund from 5000 to 7000 million which will provide guarantees to the operations of the capital increase and management of bad debts. Just a photograph of the Italian credit arrives today with the supplement to the Bank of Italy report that an increase in lending, while the Istat publishes the data on industrial production slows in February, but the data on an annual basis remains positive. Under the spotlight of investors are Mediaset, after the agreement with Vivendi, and RCS, under offer by the Cairo group.
spread is stable: the difference between the Italian and German ten-year government bonds stood at 122 points, while the yield is still 1.31%. Even the ‘ € is little moved against the dollar, but down compared to the yen this morning at the opening of markets: the single currency is trading at $ 1.1408 and 123.05 yen.
it closed slightly down, in the morning, the Tokyo Stock Exchange : the Nikkei ended the session down 0.44% to 15,751.13 points, the broader Topix index It closed down 0.61%. Both were still away on the final from the lows of the session, which in itself was not very active with 1.83 billion shares traded. The dollar closed at 107.86 yen against 108.65 on Friday: from beginning of the year has lost more than 10%. The yen comeback penalizes exporting Japanese companies and investors fear that the forecasts for the year 2016, started on April 1, they can be disappointing. Today showed that machinery orders fell 9.2% in February, but economists feared a slip even greater than 12%.
Great attention, as mentioned, focused on the China . Bloomberg Note that the + 0.5% monthly price at the March production, with the decline of 4.3% a year, is a positive sign: the trend compared to 2015 is better than the last – 4.9% -4.6% expected by economists. In general, inflation in March fell by 0.4% per month and grew by 2.3% per year, less than the + 2.5% expected. It is, above all, in the first case, the data that are still diminishing fears about the strength of the Chinese economy. The World Bank, on the other hand, says that Beijing will still be the locomotive of growth in Asia, but at a lesser rate of the past will grow by 6.7% in 2016 and 6.5% the following year, against 6.9% in 2015. the WB calls on China, whose economy is shifting from exports and investment towards a model supported by services and consumption, to continue the reform plan aiming, among other things, on public spending towards services of education, health, social welfare and environmental protection. It is no coincidence, however, that on the news markets have been well received: Shanghai closes in progress by 1.6%, 2.1% Shenzhen and Hong Kong is fractionally higher.
in the Set season begins with Alcoa quarterly, while the macro agenda is exhausted. Wall Street , back from a Friday of light increases, however, has closed the worst week since February, the eighth was a negative 1.2% for the Dow Jones and S & amp; P500, while the price list technology lost 1.3%. l In terms of raw materials, finally, as mentioned this week opens with the upward trend in prices of ‘ Gold on the uncertainty of global markets and doubts about the Fed’s further easing of monetary policy: bullion for immediate delivery that is changing hands at $ 1,250 an ounce. Prices oil rising on the heels of waiting for the summit of producer countries to be held in Doha on April 17 during which we will discuss the production freeze: contracts on WTI crude oil expiring in May exchanged in upwards of 31 cents to $ 39.85 a barrel while Brent North sea salt 15 cents to $ 42.09 a barrel.
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