Despite the outcome of the G20 and the freezing of inflation, the European stock exchanges are able to start the week in positive territory. The Ftse Eb, after an up-and-down session, closed up 0,8%, Paris +0,9% and London snatched +0,02%. Frankfurt worst in Europe, the only one among the big companies in negative territory (-0,19%).
After the frostinflation, now below zero, the markets are now expecting an intervention by the ECB in March. The outlook buoyed stocks but hit the euro, which fell to 1,0866 to a four-week low. The spread Btp-bund drops to 131 basis points with a yield of 1,42%.
In February, the consumer price index returned negative: -0,2% compared to January, -0,3% on an annual basis. The outcome of the G20 also had an impact on the sentiments of the stock markets, from which no coordinated action emerged to deal with the slowdown in the global slowdown of the economy, and the fears of a currency war. Meanwhile the Central Bank of China (Pboc) set the yuan-to-dollar exchange rate at a 4-week low, despite the statements of central governor Zhou Xiaochuan who, on the sidelines of the G20, had said that "there was no basis for further devaluations" of the currency. China's central bank pegged the yuan at 6,5452 to the dollar. The rate is the lowest since February 1 last year. In addition, the Central Bank has reduced the reserve requirements for banks.
Also to Wall Street the indices moved into positive territory at the closure of Europe. Early on, however, data on new home purchase contracts that fell sharply and the contraction in economic activity in the Chicago area in February beat. Now markets are eyeing the Fed's Beige Book mid-week and Friday's US jobs data. Oil, on the other hand, is in positive territory, +2% to 33,44 dollars a barrel.
In Piazza Affari they shine Saipem + 5,56% Yoox + 5,12% fca +4,27% on the eve of the Geneva Motor Show. The market is betting that positive news will arrive for the automaker while the head of the EMEA area of FCA, Alfredo Altavilla, expects sales growth of 3% in Europe during 2016. Moncler +2,65%, Cnh Industrial + 2,59%. At the bottom of the Ftse Mib, Mps -4,41%, Telecom Italia -1,86%, Bper -1,71% and Bpm -0,86% and Tod's -0,78% lose ground.
