After Europe and Wall Street, the Nikkei fell today for the Nikkei, which lost 5,4%, hit above all by sales on financials and the only one among the main Asian stock exchanges open while the Chinese New Year is celebrated in China. Sales also on the Stock Exchanges also in the Philippines, Indonesia, Thailand and New Zealand.
SHELTER, GOLD AND YEN PURCHASES
Not only did the Japanese 114,2-year government bond yield fall negative for the first time. Investors seek safe-haven assets and pour into the yen which rises to 2014 against the dollar to its highest since November 0,24 (the strong yen weighs on Japanese exporting companies and therefore makes itself felt on the Japanese index) and gold. The yellow metal rose again by 1192,5% to 0,71 dollars an ounce. Yesterday in New York, oil closed down for the third session in a row and today the WTI rebounds by 29,9%, quoting around XNUMX dollars a barrel.
FROM JULY EUROPEAN BANKS DOWN BY 39%. IN ITALY, THE ACCOUNTS OF UNICREDIT AND BANCO POPOLARE
In Europe, further storms are predicted: fears over the global recession and the resilience of energy companies (several negative data from the sector last week), uncertainties over banks and renewed tensions in Greece continue to undermine the sentiment of operators . Since the peak in July, the sector of the Stoxx Europe 600 Index has lost 39%.
Banks across Europe are under fire from the sell-off as Deutsche Bank collapsed yesterday to 1999 lows. The bank had to reassure in a note about its ability to repay subordinated bonds maturing in March. the turbulence comes in two important weeks for the sector awaiting the decree on the bad bank. Last week Intesa Sanpaolo published its accounts, with higher than expected dividends, yesterday it was the turn of Bpm which archived a 2015 net profit up 24,4% to 288,9 million and a coupon of 0,027 euros. Today we await the results of Unicredit and Banco Popolare and also of Banca Profilo. Eyes then to the Board of Generali which should hand over the operating powers to the president after the resignation of the CEO Mario Greco.
On the macroeconomic front, the trade balance of Great Britain and December and the German one are expected. The Bank of Italy publishes the January supplement to the “Money and Banks” Statistical Bulletin. The Nfib index on the optimism of small businesses for January, inventories for December and the accounts of Coca Cola and Wal Disney are expected from the USA.
