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by Fabrizio Patti
20 September 2021 Negative start for European stock exchanges.
Opening the Ftse Mib index in Milan dropped by 1.83%.
Last week, with the drop of just under 1% on Friday, it closed in parity (+ 0.09%).
In the rest of Europe today aligned with Milan Frankfurt (-1.99%) and Paris (-1.77%), only slightly better than London (-1.20%).
Futures on Wall Street indices also fell.
The day began with minus 3.9% for the Hong Kong stock exchange, while the financial centers of Tokyo, Shanghai, Shenzhen and Seoul remained closed for holidays.
Hong Kong is affected by -12% of the Chinese real estate giant Evergrande, which has now fallen by 90% from the highs of the beginning of 2020. With its 305 billion dollars of debt it is at risk of bankruptcy; the test this Thursday, when he will have to pay interest of 83 million dollars. There are fears of a domino effect and today some insurance companies listed in Hong Kong also fell sharply.
Central banks will be the protagonists this week: among others, those of Japan and the United States will meet on Wednesday, and the Bank of England on Thursday. They will have to decide whether to start reducing stimulus or whether to continue to view the rise in inflation as temporary.
Meanwhile, a shot in the arm for oil, with Brent falling below $ 74.5 per barrel after three sessions.
Among the shares of the Ftse Mib in Piazza Affari, the greatest decline is for an oil company, Eni, -4%, but the trend is affected by the distribution of the dividend, which has a mechanical effect of reducing the value of the share. No stocks rising. Among the biggest drops, those of Bper Banca (-3%), Nexi, Stellantis and Cnh Industrial (-2.7% for the three stocks).