MILANO – 3 pm European stock markets continue their decline in the aftermath of an uncertain session on Wall Street, with the main indices closing in mixed conditions. The wait in Europe is all for the meeting of the Governing Council of the ECB scheduled for tomorrow, after the first voices have been raised among the Frankfurt “hawks” in favor of a progressive withdrawal of stimuli by the European Central Bank.
“We believe the ECB will reduce the pace of the pandemic purchasing program (PEPP) from € 80 to € 70 billion per month, consistent with the improvement in the economic environment and the willingness to take full advantage of the PEPP card,” notes François Rimeu, Senior Strategist of La Française AM. “The Governing Council is not expected to make any announcements regarding the future of the pandemic emergency and the asset purchase program following the conclusion of the PEPP, scheduled for March 2022. From our point of view, the ECB will remain very proactive and accommodating in its communication on the future monetary aid “.
The price lists therefore proceed as mentioned all down: Milano loses 0.65%, London what 0.71%, Frankfurt gives l’1.31% and Paris 0.74%. In Asia, the weakening of the yen, to the benefit of the export sector, is pushing again Tokyo which closes a new office in positive, + 0.89%. The Japanese stock exchange also benefits from the upward revision of the estimates on GDP, which grew in the second quarter by 0.5%, from the + 0.3% previously indicated.
Abrupt braking for the Bitcoin, in the aftermath of the official “customs clearance” by El Salvador, the first country to grant it legal tender starting yesterday. The cryptocurrency plummeted to $ 45,000, down by almost 15 percentage points in one day, usually dragging the entire basket of digital currencies down.
On the traditional currency front, theeuro it is little moved compared to yesterday’s prices and is trading at 1.1832 dollars. Slightly up spread: the differential is at 108 points, compared to 107 points at yesterday’s closing. The yield of the Italian 10-year rises to 0.763%, compared to 0.752% on the eve.
On the rise the Petroleum at the start of the day: contracts on WTI crude oil rose to 68.80 dollars a barrel (+ 0.6%). Brent also grew, + 0.54% to 72.08 dollars a barrel.