MILAN – Another day marked by uncertainty in the markets. The stagnation in the negotiations between the White House and Congress on raising the US debt ceiling continues to affect the performance of the Stock Markets, which today continue to move downward. In Europe there are signs of weakness in manufacturing activity: in the single currency area, the PMI index for May stops at 44.6 points for industry, compared to a forecast of 46.2 and 45.8 points in April . Below the 50-point threshold, the index points to a recession. In contrast, the PMI for the services sector is at 55.9 compared to an estimate of 55.6 and 56.2 points in April.
The climate of uncertainty is also felt in Asia, with the indices falling slightly and Tokyo stopping at -0.42%
EU stock exchanges close
European stocks closed lower after the Eurozone and UK PMIs revealed a larger-than-expected slowdown in business activity growth in May due to a sharp contraction in output. Also weighing on sentiment was the pace of US debt ceiling negotiations after Treasury Secretary Janet Yellen raised concerns about the possibility of a debt default before June 1.
In London the Ftse 100 index lost 0.11% to 7,762.10 points, in Frankfurt the Dax fell 0.46% to 16,148.65 points, in Paris the Cac 40 fell 1.33% to 7,378 .71 and in Madrid the Ibex 35 0.39% to 9,268.43 points. In Piazza Affari, the Ftse Mib index marked -0.50% to 27,174.97 points.
Stock markets continue to fall after Wall Street
The European stock markets continue to fall with the negative start of Wall Street. The area’s index, the stoxx 600, fell half a point on sales of industrial shares. On the other hand, real estate travels quickly.
Among the individual places, Milan leaves 0.6% with Ftse Mib with 27 thousand points. On the price list, Mps is always in the lead (+4%) and Moncler is the worst (-4.8%) also in a Deutsche Bank report that recommends reducing exposure to luxury stocks. Black jersey rsi confirms Paris (-1%). Frankfurt loses 0.37% while London is on par.
The spread between the BTP and the Bund is reduced to 185 points and the yield on the Italian 10-year bond rises to 4.32%. On the commodity front, gas remains slow at 29.45 euros per megawatt hour (-0.88%). For its part, oil rose with WTI close to 73 dollars a barrel (+1%) and Brent towards 77 dollars a barrel (+0.8%).
The euro remains weak trading at $1.0779
Stock markets weak after manufacturing PMI, Vivendi weighs on Paris
European stock markets are weak and the single currency slips briefly below $1.08 after the release of Eurozone PMI data, which shows a slowdown in growth in the Eurozone due to industry difficulties. Milan loses 0.3%, Paris is the worst with a fall of 0.95% (doubled by -6% of vivendi after the news of the sale of shares by Vincent Bollorè) while Frankfurt limits the losses to -0.12% The euro weakened against the dollar and fell to a low of 1.0783 before recovering the threshold of 1.08 against the dollar. The price of oil reverses its course, now down with Brent at 75.77 dollars (-0.3%), below 1.3% of gas at 29.30 euros per megawatt hour in Amsterdam.
German industry worse than expected
Germany’s May Purchasing Managers’ Index (PMI) for the manufacturing sector is at 42.9, compared with forecasts of 45 and 44.5 in April.
The PMI for the service sector in Germany is at 57.8 against an estimate of 55.5 and 56 points in April. The composite index is at 54.3 points against a forecast of 53.5.
europe starts bottom
Session opening in the name of uncertainty and expectation for the European stock markets. Milan initially marked -0.35% in the ftse mib, Paris fell 0.36%, Frankfurt 0.14%, Madrid 0.28% and Amsterdam 0.16%.
The euro opens stable
A substantially stable start to the day for euro quotes trading at $1.0804, down 0.08%. The single currency is trading at 149.80 yen (-0.05%).
Oil up at the beginning
The price of oil starts up: WTI is trading at $71.99, 0.62% more, Brent at $76.22 (+0.30%).
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