Chinese stock markets closed for Lunar New Year. Eyes turned to US inflation
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(Il Sole 24 Ore Radiocor) – Start just below parity for the European indices, with Milan starting again from the highest levels since spring 2008 on the day when all eyes will be on the key figure of American inflation. With Chinese markets closed for the New Year holiday, volumes in Asia are reduced, but Tokyo is rallying with purchases on tech and positive signals from the Bank of Japan. The wait is all for the data on consumer prices for January in the United States, which should have increased by 0.2% monthly and down to +2.9% from 3.4% on a trend basis. Key numbers to predict when the Fed will actually start cutting interest rates. In Milan, Tod’s and Saras are still under scrutiny after the announcement over the weekend of two share reorganization operations.
The European stock markets are expected to grow after a positive start to the week, which saw Piazza Affari as the protagonist (yesterday FTSE MIB gained 1% led by Tod’s and from the sector luxury). Markets are closed in China, Hong Kong, Taiwan and Vietnam for the Lunar New Year holidays.
Asian stock markets, Tokyo closed sharply higher (+2.89%) driven by high tech stocks
Closing on the rise for the Tokyo Stock Exchange where trading resumed after yesterday’s holiday. The rally in the main stocks of the high-tech sector of the list pushed the reference index briefly above 38 thousand for the first time in 34 years, in the wake of the record set by the Dow Jones. At the end of the session the Index NIKKEI 225 it marked an increase of 2.89%, finishing at 37,963.97 points. The broader Topix index also performed well, recording a final position at 2,612.86 points, up 2.15% compared to the previous session.
US inflation in focus
Today, investors’ attention is focused on the American inflation figure, which in December had slowed growth to 0.2% on a monthly basis (compared to +0.3% in November) and to 2.9% on an annual basis (from 3.4% previously).
US prices are one of the criteria used by the Federal Reserve for rate decisions, which in turn are the main concern of investors.
The other macroeconomic events
The Manheim-based Center for European Economic Research releases the Zew index, a parameter that signals the confidence of German institutional investors in the future of the economy and markets. If it is positive, optimism prevails, if it is negative, pessimism prevails.
Ecofin, the Council of Economic and Finance Ministers of the European Union, which precedes the Eurogroup, is also being held today.
BTp auctions
The Italian Treasury is auctioning BTPs with maturities of 3,7,15 and 30 years. The rates of the previous issue stood at 3.03%, 3.63%, 4.84% and 5.05%, respectively.
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2024-02-13 08:03:45
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