(Il Sole 24 Ore Radiocor Plus) – They move with caution the European stock exchanges after three consecutive sessions closed on the rise. The reassurances of the Federal Reserve on tapering and rates, which in the session of Thursday 23 September allowed the lists of the Old Continent, and also on Wall Street, to close the third consecutive session in positive territory, are balanced in these hours above all by fears for the fate of the Chinese real estate giant Evergrande (after some repayment terms on the payment of dollar bond interest have expired without the company having communicated anything to the markets). At Piazza Affari the FTSE MIB is weak, as are the DAX 40 in Frankfurt and the CAC 40 in Paris.
Asian stock exchanges fluctuated: Tokyo after the holiday break closed up by 2.1% while Hong Kong lost more than half a percentage point, weighted by Evergrande (-13%), and the Indian stock exchange in Bombay recorded a record rise in opening (with the Sensex index which for the first time exceeded the threshold of 60 thousand points). Reassurances instead come from the president of the European Central Bank, Christine Lagarde, who in an interview with CNBC explained how the price increase is “temporary” with a return to stability expected as early as 2022.
FTSE Mib stock market trend
In Milan, eyes focused on Mediobanca after a blitz on Generali
On the Ftse Mib, great attention was paid to Mediobanca after the blitz with which it rose to 17.22% of Generali’s voting rights, in view of the renewal of the board of directors of the insurance company. Banca Pop Er shares rose after the generational turnover plan and Telecom Italia in view of the project on the national cloud. Stellantis has instead announced the entry of Mercedes-Benz as a new partner of Automotive Cells Company (ACC), a company to produce batteries together with TotalEnergies. At the bottom of the main segment of Piazza Affari Terna, Cnh Industrial and Moncler.
Evergrande remains special observed
The Chinese real estate giant Evergrande remains special observed. The company was expected to repay an $ 84 million offshore debt coupon on Thursday, September 23. Technically, default is declared 30 days after non-payment, but local authorities have been asked to prepare for the worst anyway. Beijing will not come to the rescue of the $ 300 billion indebted real estate giant, but the Central Bank also intervened today to stabilize the system by injecting another $ 70 billion into the system.
Euro / dollar stable, oil on the rise
On the foreign exchange front, the euro is stable at 1.1733 dollars (against 1.1736 yesterday at the close) and at 129.63 yen (129.314), with the greenback worth 110.49 yen (110.175). Finally, the rally in oil continues, close to the highs of the year thanks to the thrust of the restart of the airline sector: the delivery contract in November of the WTI is trading at 73.5 dollars (+ 0.3%) and the Brent at 77, 6 dollars (+ 0.4%).