Italy, with the 140-point spread, Greece is close and Spain moves away. Weak bags –


MILAN – 10:30 am The international stock markets continue to look at the evolution of the case-duty, while in Italy it returns to be talked about spread between German BTPs and Bunds, the differential between the two ten-year yields. Today the famous thermometer of a country's credibility on the financial markets widens to 144 points for the Belpaese, just below the Greek one after yesterday evening – for the first time since 2008 according to the data of Financial Times – there was a reversal in the hierarchies. The yield of the BTP is 1.18%, slightly lower than the Greek at 1.26%.

The differential between Italy and Greece has returned to crushing

The differential between Italy and Greece has returned to crushing

The premium that Italy must pay investors to subscribe to its debt, although at minimum levels compared to the historical series thanks to the incessant action of the ECB, is far greater than the Spanish one. Although it has now reached its fourth election in four years, Madrid is placing 10-year Bonos with returns below 0.4 percent. To weigh on the judgment towards the Belpaese there are also the latest forecasts of the EU Commission, which relegate Italy more and more to the bottom of the European troop for growth.

While the one between Italy and Spain has recently re-expanded

While the one between Italy and Spain has recently re-expanded

On European stock lists, uncertainty prevails after the series of consecutive increases. Milan marks a decline of 0.6%, Frankfurt yields 0.4%, Paris 0.5% e London 0.5%. The international context remains characterized by uncertainty over trade relations between the United States and China. After yesterday's news, according to which the counterparts reached an agreement for the simultaneous cancellation of some existing duties that would make it easier to reach the 'Phase 1' of the agreement, the enthusiasm has died down in the last hours. Second Reutersin fact, the plan would be fighting against a strong opposition to the White House. However, on both sides it has been confirmed that this initial step would provide for the removal of the additional tariffs that have progressively taken over the last few months.However, Asian equities have been weak, with the yen strengthening. The Nikkei index of the Tokyo Stock Exchange, which had opened with a bullish click of 0.8% testing the highs of the last year, it closed in progress of just 0.26%, at 23.391. Negative Shanghai with -0.49%. Down also Hong Kong -0.72%, flat Sidney with -0.04%, Seoul -0.33%. Last night, Wall Street had time to adjust its records: the Dow Jones gained 0.66% and the NASDAQ gained 0.28%.

In the morning, data came better than expected from China: the Chinese trade surplus it has reached 42.81 billion dollars, an increase of 32.97 billion in October 2018, about 39.65 in September and about 40.83 billion expected by the markets. Exports, according to Chinese Customs, fell by 0.9% annually and imports by 6.4%. Despite the weight of the trade war with the USA, they are numbers higher than expected: the first 10 months of the year record a surplus of 341.41 billion, almost 100 more than the 249.46 billion in the same period of 2018. Also the Germany unveiled its trade surplus, rising to 19.2 billion in September. Then there are the industrial production in France and in the afternoon the confidence of American consumers calculated by the University of Michigan. Also on the agenda is the Ecofin meeting in Brussels.

THE'EUR open stable below $ 1.11. The single currency is exchanged at 1.1047 dollars and 120.72 yen. Dollar / yen at 109.28.

Finally, among the raw materials, the trend is down for the prices of the Petroleum on Asian markets. The WTI lost 53 cents to 56.62 dollars a barrel, the Brent yields 46 cents and sells for 61.83 dollars a barrel. The price of thegold on the Asian markets it is stable this morning after the -1.5% posted yesterday. The precious metal with immediate delivery is quoted at $ 1,469 an ounce, on the last day of what, with an overall drop of 3%, is becoming the worst week of the last two years.

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