Stock markets today 21 September: markets in ko on fears of new lockdowns. Euro up

MILANO – 12:10 pm. The spread of new cases of Covid 19 in many European countries worries investors, who see a period of uncertainty approaching sharpened by the American vote and by the quality of relations between Washington and Beijing.

European equity markets accelerate to the downside on the trading day, with concerns amplified by futures on Wall Street hinting at strong sell-offs upon reopening. For EU actions, he notes Bloomberg, the worst session since last July is looming. Milano comes to lose 3% with only Diasorin, one of the major stocks, to hold its own. Online losses in the rest of the Old Continent: London collapses by 3.3%, Frankfurt by 3% e Paris 3%. The fear that London is heading for a new lockdown, and that it may be followed by other areas of the Old Continent, worries investors about the possibility of recovery. Not surprisingly, it is the airlines that drive the declines. Banks are also bad, with international reports on the possible involvement of big names in the sector such as HSBC and Standard Chartered in alleged transactions with funds of illicit origin for over 20 years: their respective stocks have fallen to their lowest levels since the 1990s.

Coronavirus in the world, USA towards 200 thousand dead. Over half of France is ‘red zone’

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The day was also weak for the Asian markets, which remained with volumes below the norm due to the holiday closure of the Tokyo Stock Exchange. The Shanghai Composite ended the session with a fall of 0.6% to 3,316.94 points while in Shenzhen it closed down 0.5% to 2,208.3 points. ChiNext was also bad, at -0.6% to 2,569.22 points, while in Hong Kong the Hang Seng index dropped 1.66% to 24,049.88 points.

Slightly upward trend for spread between BTP and Bund awaiting the results of the polls: the differential scores 148 points – from 145 at the start.

The dollar continues its weakening against the major currencies, with investors also waiting to see if the American parties will find the square on the new package of economic stimuli and look to the parliamentary texts of the president of the Fed, Jerome Powell, who will be taking jobs this week. Also in Europe there are important innovations that impact the exchange rate: the ECB launches a major review of the Pandemic Emergency Purchase Program, Pandemic QE. As reported by the Financial Times citing some sources, the revision concerns the duration of the ‘Pepp’ and the possibility of transferring part of its flexibility to other ECB asset purchase programs, the more traditional ones. The € 750 billion pandemic emergency debt purchase program was launched in March and gave the ECB the flexibility to buy a large proportion of the hardest-hit countries. The Pepp was then raised to 1.350 billion and extended until June 2021. Starting the week up for the euro: the single currency advanced by 0.18% to 1.1862 dollars. In Asia, the yen changed hands at 104.3 (-0.2%).

On the agenda today are the data on the economic confidence of the Eurozone and the sales of existing homes in the United States, while in Italy Istat releases the national economic accounts for 2019.

Quotations of Petroleum down on the Asian markets. On the one hand, the potential return of oil production in Libya and the continuous increase in coronavirus cases in the world weighs on the trend of crude oil, but on the other hand, the tropical storm that hit the Gulf of Mexico, interrupting part of production USA. Thus the WTI drops 0.22% to $ 41.02 per barrel and Brent falls 0.23% to $ 43.05 per barrel.

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