Today’s Stock Exchanges, April 13th. EU price lists cautious amid slowdown in prices and risk of recession
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MILAN – A cautious start for the European Stock Exchanges, with traders wondering about the next moves of the central banks. Yesterday the slowdown in US inflation (although still robust in the underlying component) gave the markets hope, but the Fed quickly cooled enthusiasm. The minutes of the last meeting of the US central bank revealed fears of a mild recession linked to the banking crises. Today the release of a new data on prices, calculated on household spending and held in high regard by Fedcould provide further indications to market operators, together with the weekly update of the new US subsidies.
Weak session in Asia, although supported by the excellent data coming from Chinese exports, on the first rise after six months of declines. TO Tokyothe Nikkei closed up +0.26%.
Weak and mixed opening for European stock exchanges
Weak and mixed opening for European stock exchanges after the specter of a slight recession in the US envisaged by last night’s Fed minutes. In Frankfurt the Dax scores -0.02% to 15,700.25 points, in London the FTSE 100 drops by 0.15% to 7,813.20 points, in Paris the Cac 40 rises by 0.73% to 7,451.16 points and in Madrid the Ibex-35 rose by 0.16% to 9,292.47 points. In Piazza Affari, the Ftse Mib gains 0.15%.
China, first increase in exports after six months
China’s trade surplus jumped to $88.19 billion in March, doubling the $44.35 billion of the same month in 2022 and the 39.2 billion estimated by analysts. According to data released by the Chinese Customs, exports mark a sharp turnaround, rising for the first time in six months by 14.8% per year, compared with the contraction of 6.8% in January-February and -7 % consensus of the markets. Imports drop 1.4%, better than the expected -5% and -10.2% in January-February
The spread opens flat
Spread between 10-year BTPs and German Bunds stable at the start of the session: the differential is 183.5 basis points against 184 at yesterday’s closing. The Treasury yield is 4.19%.
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