The Stock Exchange ignores China. And, at least in the opening, appreciate the bounce of the oil above $34 (Brent deliveries May 2016). Piazza Affari, at 10,30 fluctuates around +2% but the other European markets are also moving upwards. The attempted rebound certainly does not erase the losses accumulated in recent days and the situation remains characterized by strong volatility, in a period in which China and oil remain on watch. Highlighted banks (Ubi, Bpm, Bper and Intesa) come on Saipem which yesterday presented positive accounts in the fourth quarter of 2015 while Tenaris suffers from the losses realized last year.
In China, the stock exchanges closed with a real collapse: Shanghai closed at -6,41%, compounding the losses already recorded in the middle of the day. The one of Shenzhen dropped 7,3 percent. Worries about slowing Chinese growth and lack of liquidity weighed on the markets. In 2015, the Asian giant's economic growth was 6,9%, the lowest rate ever recorded in more than 25 years. According to analysts, the suffering was also triggered by the lack of liquidity that the Central Bank faced by injecting 340 billion yuan into the markets.
