Frankfurt fell by 1.6% at the end of the session, London slips by 0.9% e Paris 0.9%. TO Milano, the Ftse Mib index turned in the red by 0.84% at the end of the day. In the spotlight the eTlc media sector e Mediaset in particular, after the ruling of the EU Court which proved Vivendi right on the possibility of holding 28% of the Biscione. Banco Bpm and Pirelli also did well. There is generally a positive sentiment on European banks, including in the wake of reopening of the merger dossier in Spain with the involvement of CaixaBank and Bankia. TO Wall Street, sales are back after an encouraging start: at the close of trading in Europe, the Dow Jones loses 2%, the S & P500 drops 2.4% and the Nasdaq (back from a -5%) still loses more than 3% .
The data on American jobs fail to support investor mood, even though they indicate a slow recovery: in August the United States created 1.37 million jobs, less than the expected 1.49 million. New employees decreased compared to July when 1.76 million jobs were created (+4.7 million in June). But the unemployment rate – calculated on a different basis – instead falls beyond expectations (9.9%) to 8.4%, compared to 10.2% in July, this is the fourth consecutive decline after reaching 14, 7% in April and the first time since March that leaves the double digit. However, the numbers of February, in the pre-Covid era, when the jobless rate was 3.5 per cent, remain very far away.
For many analysts, the sales triggered on the stars and stripes technology standard-bearers that have depressed the entire Wall Street are healthy: the race out of the pandemic quagmire is too strong to be true, is the reasoning that recurs in reports and comments. By the end of August, adjustments in portfolios were expected. From the lows reached on March 23, the S&P 500 and the Dow still gained more than 50%, the Nasdaq more than 60%. The latter had returned from 11 positive closings in the last 13, practically a historical record after the other despite the fact that the voices of those who shouted at excessive evaluations began to become more and more consistent. There is a calculation from Bank of America that makes an impression: for every hour passed from March onwards, the Nasdaq added 1.6 billion to its capitalization. But the growth of the fear index, the Vix which measures expected volatility, at its highest since June, says that new shocks could be upon us.
In Europe, look to Germany where orders to the manufacturing industry rose 2.8% monthly in July. Orders on the domestic market decreased by 10.2% while orders from abroad recorded an increase of 14.4% compared to the previous month.
The Tokyo Stock Exchange, this morning, it closed lower: the Nikkei 225 index lost 1.11%, equal to 260.10 points, to 23.205.43 points. The Topix index slipped 0.90%, or 14.64 points, to 1,616.60.
Closing slightly up at 149 basis points for the spread between BTP and German Bund, with the Italian 10-year yield at 1.01% on the secondary market. The dollar continues to recover on the currency markets, supported by good US economic data. The change oneuro, which had risen to 1.20 earlier in the week, ended the day below 1.18, in the 1.1780 zone. The green ticket also gained ground against the pound, which paid duty to new doubts about the Brexit deal, at around 1.3180. The euro, which is still affected by profit-taking after the recent highs, has also retraced against the yen to around 125.30. The cross between the Japanese and US currencies was essentially stable at 106.30.
Among the raw materials, the Petroleum there is a slight decline in trading on the electronic markets: WTI crude oil in New York fluctuates at around $ 41 a barrel, down 0.8% compared to yesterday.
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