Today’s stock markets, November 16th. Weak price lists after the great run, Chinese real estate weighs

Stock markets negative and the spread drops to 175

The Cac 40 in Paris lost 0.57% to 7,168.4 points, the Ftse 100 lost 1.06% to 7,407.36 points and the Aex in Amsterdam lost 1.17% to 753.91 points. On the other hand, the Dax of Frankfurt increased by 0.28% to 15,792.15 points, and the Ibex 35 of Madrid advanced by 0.33%. The collapse of oil prices due to the increase in US inventories and renewed concerns about Chinese demand is weighing on continental markets: WTI futures in December lose 4.2% to 73.4 dollars a barrel, Brent futures in January 3.9% to 78 dollars. Thus the FTSE MIB in Milan interrupts the rally that had taken it to the highest levels since July and closes down 0.71% at 29,258 points. The spread drops further and closes at 175 basis points.

European stock markets: close lower except for Frankfurt

Negative closing for European stock markets, except Frankfurt. The European indices are affected by the red trend on Wall Street but also by fears of a cooling of the economy, after the enthusiasm of the last few sessions. The spotlight remains on key speeches by ECB and Fed officials

Wall Street: opens slightly lower (S&P -0.1%) after another round of data

Wall Street opened slightly lower following another round of economic data. The number of new applications for unemployment benefits is rising and at the highest level in the last three months, increasing by 13,000 units to 231,000, with expectations at 220,000, with the overall number of workers receiving benefits increasing by 32,000 units to 1,865,000 Unit. In November, the conditions of the manufacturing sector in the Philadelphia area remained in contraction, with the index calculated by the Philadelphia Federal Reserve rising from -9 to -5.9 points, against expectations for -7.5 points; it was the sixteenth negative data in the last 18 months.
Finally, confirming the slowdown in inflation shown in recent days by consumer prices and producer prices, import prices in October fell by 0.8%, against expectations for a drop of 0.3%.

Milan: turns negative, Ftse Mib -0.44%

Piazza Affari turns negative after three days of good increases. The Ftse Mib index lost 0.44% to 29,337.46 points, after a morning of limited fluctuation.
Having digested the positive data of falling US inflation, operators however welcomed the signs of a slowdown in the US economy with some fear.
Utilities shine on the list: A2a +2.57% and Erg +1.12% in the lead, both still following the quarterly reports well received by the market. Energy stocks fell, with Eni -2.46%, Saipem -4.12% and Tenaris -3.41%. Snam is on the rise, gaining 0.68% and Italgas, rising by 0.93%. Among the other blue chips, Leonardo rises by 0.94% after the announcement of the placement of 6.3% of Drs. Among the banks, Unicredit gained 0.81%, Intesa rose by 0.10%, while Banco Bpm lost 0.83% and Mps 1.31%.

Alibaba: quarterly turnover +9%, cancels cloud spin-off

Alibaba closed the July-September quarter with revenues up 9% on an annual basis in the July-September period, after several difficult years and in a context of economic slowdown in China, which is weighing on consumption. Net profit attributable to shareholders amounted to 27.706 billion yuan (the equivalent of $3.79 billion). In addition to reporting quarterly results in line with expectations, the Chinese e-commerce giant announced that it has canceled plans to spin off its cloud computing business due to U.S. restrictions on computer chips.

USA: requests for unemployment benefits +13,000, above expectations

In the week ending Nov. 11, the number of Americans filing for unemployment benefits rose by 13,000 to 231,000, the highest in nearly three months and well above market expectations of 220,000. Meanwhile, jobless claims rose by 18,000 to 1,865,000 in the previous week, the highest in nearly two years and sharply higher than the market forecast of 1,847,000, suggesting that job seekers are meeting greater difficulty in finding suitable employment. The data highlighted a marked softening in the US labor market, in line with the Fed’s recent warnings of a slowing economy and underscoring that business conditions are yielding to restrictive interest rates after a period of resistance

T-bond: prices rising today after another series of data, ten-year yield at 4.461%

US Treasury bond prices rose today following another round of economic data. The number of new requests for unemployment benefits is rising and at the highest level in the last three months, increasing by 13,000 units to 231,000, with expectations at 220,000, with the overall number of workers receiving benefits increasing by 32,000
Units at 1,865,000 Units. In November, the conditions of the manufacturing sector in the Philadelphia area remained in contraction, with the index calculated by the Philadelphia Federal Reserve rising from -9 to -5.9 points, against expectations for -7.5 points; it was the sixteenth negative data in the last 18 months. Finally, confirming the slowdown in inflation shown in recent days by consumer prices and producer prices, import prices in October decreased by 0.8%, against expectations for a drop of 0.3%.

Weak Europe awaits US data, Milan +0.2%

European stock markets are sluggish as they head towards the mid-session turning point. Investors are awaiting US data on the labor market which, after inflation, are the elements under the spotlight for the central banks’ next moves on the monetary policy front. There is also attention on the latest results of the quarterly season and on the performance of the global economy. The Stoxx 600 index is down 0.2, while Wall Street futures are little changed. Sessions were down for London (-0.4%) and Paris (-0.2%) while Frankfurt and Madrid (+0.4%) and Milan (+0.2%) were positive. Energy weighs heavily on the price lists (-1.7%), with the price of oil still falling. The WTI lost 0.4% to 76.3 dollars a barrel and Brent to 80.9 dollars (-0.3%). The luxury sector also did poorly (-0.7%), with Burberry (-8.3%) collapsing after announcing that it might not reach its revenue targets. Utilities rose sharply (+1.3%), with gas rising slightly.

two-speed Europe, government bonds falling

The Stoxx 600 area index lost 0.1%. Paris (-0.2%) and London (-0.1%) are down while Frankfurt and Madrid are positive (+0.4%). The main European price lists are supported by purchases of utilities (+0.9%), with the price of gas falling. In Amsterdam prices fell by 0.1% to 47 euros per megawatt hour. Telecommunications and industry also increased (+0.4%). The banks moved little (+0.01%) while the associations lost 0.1%. Negative session for luxury (+0.7%), with the collapse of Burberry (-8.8%) after the company announced that it could miss its revenue targets for the end of the year. Energy fell sharply (-1.3%), with the price of oil falling. Brent fell by 0.5% to 76.3 dollars a barrel and WTI stood at 80.9 dollars (-0.3%). On the government bond front, there has been a decline in the yields of the main European government bonds. The spread between BTPs and Bunds falls to 177 points, with the Italian ten-year rate falling by three basis points to 4.39%. The German Bund also fell to 2.62%

China closes lower, Shanghai -0.71% and Shenzhen -1%

Asian markets down. The Hang Seng in Hong Kong lost 1.36% at the end of the day at 17,832.82 points. The Chinese stock markets were also negative with the Shanghai Composite index losing 0.71% to 3,050.93 points while that of Shenzhen dropped 1% to 1,915.47 points. On the other hand, the Kospi of Seoul is positive, moving above parity and gaining 0.06% to 2,488,

Europe opens sluggishly with Milan +0.1%, Biden-Xi meeting does not warm spirits

In a context of risk aversion which weighed on the Asian stock markets (Tokyo closed at -0.28%) and which did not benefit from the rise on Wall Street, Milan fluctuates on parity (start -0.04% and then + 0.14%), as did Paris (-0.07%), while Frankfurt (+0.41%) and Madrid (+0.37%) did better.
London (-0.16%) and Amsterdam (-0.42%) remain further behind.

Tokyo closes down 0.3%

The Tokyo Stock Exchange closed down, having reversed the trend after a positive start. The Nikkei 225 index lost 0.28% to close at 33,424.41 points, while the Topix index slipped 0.19% to 2,368.62
points.

Asian stocks mixed

Asian stock markets continue mixed in today’s session. After yesterday’s rally, Hong Kong started the day again on a positive note, only to then retreat; the Hang Seng index now marks a decline of 0.88%. On the Chinese stock exchanges, Shanghai suffered -0.53%, while Shenzen lost 0.91%.