Stocks are falling across Europe, gold returns to rise

2020-08-17T07:37:25.574Z

The market week started in Europe with slight gains, but the sign turned negative within minutes of opening. The Milan Ftse Mib index marks -0.8% at 9.15, after an initial + 0.50%. Similar dynamics in the rest of Europe, with the Eurostoxx50 index down 0.5%. In the week preceding August 15th, the main index of the Italian Stock Exchange had risen by 2.62%, with a 1% decline on Friday. Among the stocks on the Ftse Mib, the best performances for Moncler (+ 1.43%) and StMicroelectronics (+ 0.8%), higher declines for Banco Bpm (-1.3%) and Tim (-1.6%). At a European level, the travel and leisure sectors are falling, as well as oil & gas producers. Today the start of negotiations in Asia saw strong progress in Hong Kong (+ 0.8%) and Shanghai (+ 2.3%), despite the fact that the planned talks between the United States and China on disputes were postponed over the weekend trade between the two countries. The Chinese central bank's decision to inject liquidity for the equivalent of 86 billion euros to support the banking system weighed more. On the other hand, Tokyo was down (-0.8%) after the worst-than-expected second quarter GDP figure: -7.8% compared to the previous quarter. Gold returns to rise, after last week's decline of 4.5%: + 0.50%, to just over $ 1,950 an ounce.