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by Fabrizio Patti 20 August 2020 Negative start for European markets, after yesterday's plus sign. For the Ftse Mib in Milan -1.14%, with a balance from the beginning of the week that returned negative by one percentage point. All 40 Ftse Mib titles were negative, except Diasorin (+ 1%).Piazza Affari is in line with the rest of Europe: -1.32% for the Eurostoxx 50 index, the basket of the main stocks in the Eurozone.
The day was also bad in Asia. -3.66% for the stock market index in Seoul, South Korea. It is a decline due to the increase in cases of Covid-19, especially in the Seoul area, where the authorities have urged the population to limit the movements.
Shanghai and Hong Kong were also down, after the Chinese central bank decided not to lower the reference rates of mortgages for those with a more solid profile, believing that it was therefore not necessary to give new stimuli to the economy.
The direction of the markets began to turn negative last night, after the Fed, the US central bank, released the minutes of its meeting at the end of July. Concern for the recovery of the economy emerged, underlining the high uncertainty, and the opposition of some of its members to the purchase of government bonds. This helped bring down the Wall Street indices, which in any case came from the historical record of the day before.
Among the beneficiaries of the race in recent months is Apple, which yesterday reached a record capitalization of $ 2 trillion.
Central bank action, coupled with uncertainty over the economic recovery, contributed to lower yields on some safe bonds. Like the German ones: yesterday Germany placed 30-year government bonds. Despite such a long duration, the yield is negative: -0.05% and the demand was almost three times the offer.
Gold picks up after yesterday's decline. Today it is trading at $ 1,942 per ounce (+ 0.75%).
The euro remains at yesterday's levels: one euro is worth $ 1.1855.