The stock exchanges today, 12 August. The European markets closed positive, a record collapse of the British GDP

MILANO – Positive day for European stock exchanges. The squares of the Old Continent begin the session weak in the wake of the lack of understanding between Democrats and Republicans on the stimulus plan to support the recovery of the US economy but then reverse course, strengthened by the good data received during the day by Eurostat on industrial production in the euro area.

Milano salt by 1.13%, London advances of 2.2%, Paris 0.9% and Frankfurt grew by 0.92%. Wall Street is also doing well, after the US government entered into an agreement with drug manufacturer Moderna to purchase 100 million doses of its potential Covid vaccine for a total amount of approximately $ 1.5 billion. At close of trading in Europe, the Dow Jones rises by 0.89% and the Nasdaq rises by 1%

Gold is temporarily settling on the market, which after updating last week’s highs of over $ 2,000 an ounce, had clearly reversed course, dropping below $ 1,900 with regard to spot contracts. The metal thus rose slightly over the course of the morning to $ 1940.

Still on the commodities side, oil prices rose after falling beyond expectations of US inventories: in the afternoon the WTI for delivery in September and the Brent in October rose by 2 points to 42.5 dollars a barrel and 45.3 dollars per barrel. barrel,

The macroeconomic data of the day opened the update on British GDP in the second quarter, which fell by 20.4%, just better than the expected -20.7%. The figure for the month of June alone is also slightly better than expected: the gross domestic product grew by 8.7% compared to the expected 8%. For the United Kingdom, however, this is the first technical recession since 2008, or the first time in which there are two consecutive negative quarters. Furthermore, the quarterly fall in London is the worst of all the European countries affected.

But what gave a good boost to European markets was industrial production, which grew by 9.1% in June both in the euro area and in the EU, compared to May 2020.In May 2020, industrial production had increased by 12. , 3% in the euro area and 11.6% in the EU. In June 2020, compared to June 2019, industrial production decreased by 12.3% in the euro area and by 11.6% in the EU.

On the domestic front, Istat records instead a new drop in pricesi, down 0.2% in July compared to June and 0.4% compared to 2019.

Among the currencies, the euro returns to rise, closing in Europe just below 1.18 dollars. Little move, at 140 points, for the spread, with the yield of the ten-year Italian bond at 0.9%.

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