Concerns for China continue to weigh on the markets, despite the recovery of Asian stocks this morning. The Exchange of Shanghai closed up more than one percentage point e Shenzen by 2,19%. Down instead Hong Kong which loses 1,3%. China's central bank has injected nearly $100 billion into two structural banks responsible for providing loans according to government policies, a move that comes as part of efforts by Beijing authorities, the official Xinhua News Agency reported. to support the country's economy.
In Europe, after yesterday's closure in the red on Wall Street, the lists remain in negative territory: the Ftse Eb loses 0,32%, Paris 0,60%, Frankfurt 1% and London 0,79%.
In the morning the Bundestag, the German Parliament, gave green light to the third floor of aid in favor of Greece worth around 86 billion over three years with 454 votes in favour, 113 against and 18 abstentions out of a total of 558 voters (631 seats in Parliament).
The centre-right Union led by Angela Merkel (CDU/CSU) has 311 deputies and, together with the Social Democrats, the Grand Coalition has 504 seats. The approval of the third aid plan also entails the green light for the disbursement of the first tranche of aid for which a new meeting of the Bundestag will not be necessary.
The German Finance Minister, Wolfgang Schaeuble, who had recommended to vote in favour, however, at the beginning of his speech, he also reiterated Berlin's decided no on a possible cut in the Greek public debt and announced that the IMF's participation in the plan is "indispensable".
Today Germany auctioned 4,1 billion new two-year Schatz bonds maturing September 2017 with an average yield of -0,25% (-0,27% the previous auction in July) and with demand for 5,749 billion against an offer of 5 billion. The allotment yield remained close to the all-time low of -0,28%, recorded in the April auction. The BTP/Bund spread rose slightly to 114,5 basis points.
They are expected in the evening the minutes of the last meeting of the Fed. In the afternoon, US inflation data for July and weekly oil inventories are on the agenda. The WTI is still down at 42,42 dollars a barrel (-0,47%).
On the central bank front, today the Central Bank of Iceland raised interest rates by 0,5% to 5,5% due to the risk of inflation deriving from wage increases.
In the Eurozone at 29 in June construction production in the Eurozone fell by 1,9% compared to May when it grew by 0,2%. The decline was due to a 2,7% decline in civil engineering and a 1,6% decline in palace construction.
It should be noted that in the second quarter the Norwegian pension fund, the largest sovereign wealth fund in the world, recorded its first negative quarterly return (-0,9%) for three years, weighed down by the bond market.
In Piazza Affari he leads the declines Prysmian (-2,58%) followed by luxury: Moncler -1,86% Luxottica -1,76%, which pays the investigation opened by the French Antitrust into an alleged price cartel involving both the multinational from Agordo and its competitors, Yoox -1,33%.
Countercurrent with good increases the banks. bmps +1,96%: according to Corriere della Sera, he could decide to continue stand alone and not seek marriage with another bank. Ubi + 1,5% Bper +1,29% thanks to the agreement reached yesterday with the unions on redundancies, Banco Popolare + 1,11%.
Up too Tenaris (+ 0,77%) and Saipem (+0,4%) despite oil still losing ground. Eni -0,52%. Outside the Ftse Mib Telecom Italy Media which rises by 1,39% after the savings shareholders of Telecom Italia Media they asked again to stop the merger of the TV frequency company in the parent company Telecom Italia.
