(Il Sole 24 Ore Radiocor) – The European stock exchanges they move slightly downwards afterwards a positive week getaway and despite the liveliness of the Asian stock exchanges, with Tokyo at the top for five months and the bright Chinese ones. While traders are already looking to the appointment with the ECB on Thursday 9 September, indications have arrived on the confidence of the German Zew index, which collapsed in September to 26.5 points from 40.4 in August. The index measures the sentiment of operators on the performance of the German economy. Wall Street is also restarting, closed for Labor Day.
Eyes on tlc, Milan held back by utilities
In Piazza Affari the brake comes in particular from the utilities with Enel, A2a e Hera. Weak too Stellantis and after an upward start he pulled the brake too Exor before the semester. In light Moncler e Nexi. Beware of the telecommunications sector after that German Telekom e Tele2 finalized the sale, for 5.1 billion euros, of T-Mobile Netherlands, to an investment fund consortium consisting of Apax Partners and Warburg Pincus. Deutsche Telekom also announced a strategic and equity partnership with Japan’s Softbank. Out of FTSE MIB Well Esprinet after the semester.
Loading…
Euro remains below 1.19 dollars, waiting for the ECB meeting
On the foreign exchange market, the euro remains below 1.19 against the US currency, pending the ECB meeting on Thursday 9 September. “The intervention in recent days by three hawkish governors – including Jens Weidmann of the Bundesbank – of the ECB has actually opened the debate on how and when to start reducing monetary stimulus also in Europe in the face of a strong economic recovery and above-expected inflation ”, underlines Luigi Nardella of Ceresio Investors. “On Thursday the ECB will reiterate the temporary nature of inflation and, apart from a probable slowdown in purchases returning to pre-second quarter levels, no changes are expected,” he adds. However, “it will be interesting to understand how the debate on the post Pepp – the purchase plan linked to the pandemic emergency that expires in March next year – will evolve”.
On the central bank front, moreover, from Wednesday 8 September a three days full of speeches by several Fed members (Williams, Kaplan, Daly, Evans, Bowman and Mester). “In this regard it will be interesting to observe how and if some favorable positions have changed since the announcement of tapering already in September after the bad data on the job market”, say analysts from Mps Capital Services.
–
