MILANO – 3 pm The day of the European stock markets turns red, after the opening with a cautious rise. Frankfurt registers a -1.08%, Paris worsens at -1.4% while London slips by 0.04%. Also Milano is on line and the Ftse Mib, which started in black, is down by 1.04%.
It’s still the energy front – in the midst of the gas and electricity crisis – to attract the attention of investors and observers: also oil raises its voice and continues to grind price increases, updating the highs for three years. Brent crude oil prices rise above $ 80 a barrel for the first time in nearly three years, marching towards the sixth consecutive session on the rise in the wake of expectations of higher demand and fears for supplies with the planet slowing down. emerging from the pandemic crisis. The energy issue dominates the scenario also in China, where, especially in the Northeast, growth would be threatened due to interruptions to supply chains.
I future su Wall Street they worsen with the growth of yields on US government bonds, with the losses aiming mainly towards the technology sector of the Nasdaq. Investors have read the latest statements from the Fed governors as a hypothesis of an approaching rate hike. There is also the cyclical problem of reaching the US debt ceiling, which would trigger – without a political agreement to adjust it – a stop to the financing of federal activities. Treasury secretary Janet Yellen writes in a letter to Congress that the fateful date will be reached on October 18, by which time a remedy is urgently needed.
Even in Asia, the stock markets have moved in contrast: Tokyo lost 0.19%, Hong Kong gained 1.2% e Shanghai what 0.54%.
Among the macroeconomic data of the day we note the growth of German consumer confidence October (0.3 points). The opening of the ECB Forum (formerly Sintra) is expected today, in which the central bankers of the main economies will participate to discuss the theme “Beyond the pandemic: the future of monetary policy”, or the future of monetary policy after the pandemic.
In her speech at the opening of the ECB Forum of the main central bankers in the world, the president of the ECB, Christine Lagarde remarked that the euro area economy “has moved away from the abyss, but not yet out of danger”. The former IMF chief also said he expects inflation to drop “once the pandemic-induced effects have passed”, expecting it to “slowly approach” the 2% target.
Still on the subject of central banks, Jerome Powell, Fed number one, will hold a hearing on the Senate Banking Commission. Among the data, consumer confidence in the United States should be monitored. On the issues front, today the Treasury will auction six-month Bots for an amount of 5.5 billion. Meanwhile it spread between BTP and Bund opens at 102 points with the Italian 10-year yield at 0.74% and the Treasury has placed 5.5 billion euros of six-month Bots maturing on March 31, 2022. The (negative) yields are falling and equal to -0.545% with a variation of 0.03 points compared to the previous transaction in August (-0.519%).
Euro essentially stable at $ 1.1699 with an increase of 0.03%. The euro changes hands at 130,1200 yen with an increase of 0.22%.