Today’s Stock Exchanges, November 18th. Positive Europe, North Korea does not scare the Asian markets
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MILAN – A cautious upward start for the European stock exchanges in a week marked by investors’ uncertainty about the next moves by the central banks. The signs of caution expressed by some members of the ECB in Europe regarding a possible less aggressiveness in monetary policy decisions are accompanied by the hard positions of some members of the Fed who in recent days have once again insisted on the need for a more rigid approach. Among these is that of the Fed hawk James Bullardwho yesterday said that an interest rate hike ‘up to the range between 5% and 7%’ would be appropriate”.
In Asia, tensions in the Pacific area do not seem to worry the markets. The Chinese indices are below parity: the Shanghai Composite index drops by 0.58%, while that of Shenzhen loses 0.49%. In Tokyo, the Nikkei closed down by 0.11%.
Positive European stock exchanges
Opening progress for the European Stock Exchanges, with Milan rising to 24,505 points (+0.68%). Well done Paris, which advances by 0.31% and London, which scores share (+0.34%). Frankfurt, slightly more tonic, gains 0.55%
Slightly increasing spread at the start
Spread between 10-year BTPs and German Bunds up very slightly at the start of the session: the differential started at 191 basis points compared to 190 at yesterday’s closing.
Treasury yield is 3.9%
The euro opens higher against the dollar
The euro opens up against the greenback at 1.0375 dollars (+0.14%), but yields against the 145.04 yen (-0.13%). Dollar/yen fell to 139.82, with the Japanese currency strengthening against the dollar after data showed Japan’s consumer prices climbed to a 40-year high at 3.6% in October, as prices High global commodity prices and a weak yen have sent import costs soaring. The currency also strengthened after Bank of Japan Governor Haruhiko Kuroda stressed the need to maintain a very loose monetary policy to support the economy in the wake of the strong inflation reading.
The day after the presentation of the new budget law, the pound gained ground against the greenback at 1.887 (+0.23%) and also advanced against the single currency at 87.19 pence to the euro.
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