The index of world stock exchanges (MSCI Word) records a new all-time high, mainly thanks to the sharp rises recorded in recent months by the American Stock Exchange. Saw that in the meantime the real economy is going through a period of serious crisis everywhere, it is inevitable to ask whether the market trend is justified or arises from an excess of optimism on the recovery prospects, which largely depend on the timeliness with which they will be able to be tested and disseminated the anti-Covid vaccines.
In fact, as Morya Longo points out on the Sun 24 Hours, it is not so much the forecasts on the rise in GDP that are encouraging the operators, but rather the countermeasures taken by central banks, which – mindful of what happened in 2008/2009 – are flooding the liquidity system. And this time they can also count on the collaboration of governments, which practice ultra-expansionary fiscal policies everywhere.
Now the question is: will last? The markets believe it, but to get more concrete indications we will have to wait for the words of Jerome Powell, number one of the Fed, who will speak today at the traditional symposium of Jackson Hole.
Meanwhile, he also intervened to further unnerve the markets the return of high voltage between the US and China: Beijing which has launched some missiles in the South Sea and Trump has put 24 Chinese companies linked to the works carried out in that area on the "black list". Not to mention the sudden resignation of the number one of the social media TikTok, Kevin Mayer, after the accusations from Washington, with the app which has now become the center of the clash between the two superpowers.
Business Square started Thursday's session in negative territory (-0,62%). The other main European stock exchanges are also bad: Frankfurt (-0,1) Paris (-0,3%), Madrid (-0,6%) And London (-0,3%).
The Asian price lists, on the other hand, contrasted. The bag of Tokyo closed trading with the Nikkei down 0,35% at 23208,86 points. Negative sign also a Seoul, where Kospi lost just under one percentage point. Down Hong Kong (-0,87%), Singapore (-0,27%) And Taiwan (-0,28%).
As for the individual titles of the Ftse Mib, he is in the lead stm (+ 1,77%), followed by Mediobanca (+0,86%), the day after the green light from the ECB to Leonardo Del Vecchio's Delfin, which intends to raise up to 20% of the capital.
You realize about Tim (-0,2%) in view of an agreement with Open Fiber and CDP on the single fiber network. According to some rumors, it should also be part of the project Tiscali, which snatches upwards of 10,9%.
Sale Falck Renewables (+1%) which with Eni Us acquired Building Energy Holdings for 32,5 million dollars.
At the end of the main list are Diasorin (-2,44%), Unicredit (-1,37%), Intesa Sanpaolo (-1,32%) And Tenaris (-1,12%).
Lo BTP-Bund spread it stands at 150 basis points, two more than the last close.
On the currency front, the euro it is up slightly to 1,183 dollars (from 1,179 yesterday at the close).
Petroleum stable despite hurricane Laura in the Gulf of Mexico forcing oil rigs and refineries to suspend production: the WTI contract expiring in October is down 0,14%, at 43,3 dollars a barrel, while that Brent travels at 45,7 dollars (+0,1%). One more discount for their: -0,37%, to 1946.0265 dollars an ounce.
