Hypothesis of postponement of duties and agreement on the North American treaty: Stock Exchanges improve – Repubblica.it

MILAN –The stock exchanges catch up with the news coming from the United States. First come the rumors launched by Wall Street Journal according to which the White House could postpone the increase of duties on Chinese products scheduled for December 15, to facilitate the achievement of a trade agreement between the parties. Then comes the news that the Democrats of the House of Representatives have found an agreement with the Trump administration to approve the Usmca, the trilateral trade agreement between the United States, Mexico and Canada, which will replace the NAFTA. The new treaty contains provisions to create more jobs in the manufacturing sector, but also updated labor standards and provisions to ensure their application in Mexico. Investors look to the Fed's communications this evening, although analysts do not expect a new rate cut after the US Central Bank has already cut them by 25 basis points three times during 2019.Milan, yesterday in the black jersey, it goes up until it closes in progress of 0.72%. Most of the other leaks are recovered: London yields 0.25%, Frankfurt slips by 0.3% while Paris turns positive by 0.2 percent. The debut of Sanlorenzo yachts is recorded at Piazza Affari, with a positive trend (follow). Safilo also did well after the Californian shopping and above all the surprise renewal of the license with Marc Jacobs.

Wall Street Starts trading weak, but even the American stock prices recover after the announcement on Usmca: when the trading day ends in the Old Continent, the Dow Jones is close to parity and the Nasdaq rises by 0.2 percent. On the Asian shore, this morning Tokyo closed up 0.33%.A slight increase there spread: the Btp / Bund differential is at 160 points, on the closing levels in sharp decline yesterday, while the yield on the Italian ten-year security is 1.28%.

THE'EUR closed higher than $ 1.10. The European currency is traded for 1.1083 dollars and 120.31 yen. Dollar / yen rises to 108.64 yen.

Among the macroeconomic data, the leap in Chinese inflation stands out, having grown by 4.5% on an annual basis due to the huge increases in pork prices following the swine fever epidemic. The industrial production figure for October came from Istat: a monthly drop of 0.3%, which becomes -2.4% per year. Bankitalia, on the other hand, reported a further decline in loans to businesses in October: -1.4 per cent. The + 2.4% recorded by households led loans to the private sector to rise by 0.3 percent overall. The cost of mortgages is falling: average rates down to 1.74 percent. The Zew index, which measures German business confidence, jumped above expectations in December. The index rose to 10.7 points against an estimate of 1.1. In October he had scored -2.1 points. Productivity in the US contracted in the third quarter of 2019 more than expected but better than calculated at a preliminary level. According to the final data released by the Department of Labor, the index obtained by dividing production by the number of hours worked decreased at an annualized rate of 0.2% compared to the previous three months and not by -0.3% as initially reported; analysts expected a fall of 0.1%.

The commodities remain substantially unchanged Petroleum after the sharp rises in the past week pending data on expected US stocks falling. At the close of the European stock exchanges, the WTI rises 0.4% to $ 59.2, while Brent adds 0.2% to $ 64.4. Even the quotations of thegold the moves are low: the spot metal adds 0.1% to $ 1,463 an ounce.