fears for the Chinese economy weigh heavily – Corriere.it
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The European Stock Exchanges are holding back at the start after a brilliant week in which the stock markets overcame the decisions of the Federal Reserve and the ECB in monetary policy. The cut in the growth estimates of the Chinese economy by Goldman Sachs analysts, the decline in Asian stock exchanges (-1% Tokyo closing while Hong Kong drops about one percentage point) and the absence of US markets for the Juneteenth, which commemorates the liberation of African American slaves, contribute to the downturn in Europe. The main indices of the Old Continent drop by half a percentage point and Piazza Affari scores -0.44%.
The price list
The performance of the Ftse Mib was negatively affected by the technical drop of 0.23% due to the dividend detachment of four big names such as Poste, Snam, Terna and Hera. The banks did well, starting with Mps (+1.66%); lively Leonardo (+1.1%) in the week of the international aeronautics and space exhibition in Paris-Le Bourget; Tim also did well (+0.7%) with the board of directors busy starting today to examine the new offers on the infrastructural network. Decline in line with the price list for Pirelli (-0.5%): the Italian government has exercised the powers of Golden Power on the shareholders’ agreement between the Chinese of Sinochem and the Camfin holding by imposing stringent limits on governance as well as on any influences from Beijing in the field of technologies and IT systems of the Bicocca company. Negative energy (Enel -0.33%, Eni -0.51%) and financials with Mps at -0.57%, Generali -0.53%, Intesa -0.10%, while Unicredit moves against the trend with +0.16%. Among the industrialists, however, Stellantis at -0.42% and Pirelli at -0.35% after the exercise of the golden power by the government. Finally, on the rest of the list, the Mfe shares show a decline: category A shares drop by 1.76%, B shares fall by 0.50%. Here the price list in real time.
The spread
The spread between German ten-year BTPs and Bunds increased to 157.2 points, against 156.4 at Friday’s closing. The ten-year yield stable at 4.016%. Here the spread in real time.
Currencies
The euro opens slightly moved in the first trades of the seventh. The single currency changed hands at 1.0937 dollars (-0.05%) and at 154.86 yen (-0.12%). The dollar/yen exchange rate was also almost unchanged at 141.59 (-0.09%).
European stock exchanges
Negative performance for the main European stock exchanges in the first session of the week. The Paris Cac 40 scores -0.44% at 7,353.75 points, the London FTSE 100 -0.43% at 7,609.45 points and the Frankfurt Dax 30 -0.44% at 16,286.35 points. Also down was the Zurich Smi, -0.39% to 11,343.20 points, and the Spanish Ibex 35, -0.18% to 9,478.06 points.
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