EU stock exchanges expected to rise. Asian price lists contrasted by tensions in Hong Kong

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Servicemarket day

Today the attention of investors is also towards the President of the European Commission, Ursula Von der Leyen who will illustrate the proposal to revise the EU budget in an anti-Covid function.

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(REUTERS)

Today the attention of investors is also towards the President of the European Commission, Ursula Von der Leyen who will illustrate the proposal to revise the EU budget in an anti-Covid function.

2 ‘of reading

An upward start is looming for European equity markets, on a day still conditioned by the succession of news about the spread of the coronavirus epidemic. In Asia, however, the price lists are mixed. The Tokyo Stock Exchange closed higher. On the contrary, due to the tensions in Hong Kong, both the local index and that of Shanghai have fallen.

Injection of confidence for investors
Tuesday ended with investor confidence in the exit from the emergency caused by the coronavirus pandemic and a rapid recovery in the economy. Many of the equity markets have in fact returned to pre-lockdown values: Milan rose 1.5%, Paris 1.46%, Frankfurt 1%, London 1.24% and Madrid 2 , 3%. The push came mainly from the sectors most penalized in the last two months, starting from travel, but the advance of the banks is also worth mentioning. On Wall Street, where the “floor” reopened, the S&P index returned above the 3 thousand point threshold.

Wind in the stern for the Treasury
The favorable trend was also recorded on the fixed income markets, with the spread between BTp and Bund returning to around 200 in the ten-year period (yield at 1.59%). During the day, the Treasury had also placed new CTz for 4 billion euros at a rate of 0.441% more than halved compared to the previous month, in addition to BTp indexed to European inflation for a further billion to 1.29 percent. This morning it will be the turn of the 6-month BTp for an amount of up to 6.5 billion, in addition to the flexible BTp for an additional 3.5 billion.

Macro data and eyes on the ECB
On the appointments front, Wednesday will open with consumer confidence in France and continue with sales in services in Italy. The publication of the Beige Book is expected from the United States, while the agenda also proposes an IEA report on investments in the sector
energy. On the political side, the president of the ECB, Christine Lagarde, will participate in an event organized by the European Parliament, while the president of the European Commission, Ursula Von der Leyen will illustrate the proposal to revise the EU budget in an anti-Covid function. Lastly, as regards finance, the shareholders’ meeting of
Bollorè group and the presentation of new strategies
of the Renault-Mitsubishi alliance.

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