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by Fabrizio Patti

23 September 2021


Third day of stock exchanges after the crash on Monday: the Ftse Mib index in Milan marks + 0.77% per cent, and this coincides with the weekly balance.

In the rest of Europe London + 0.40% Frankfurt + 0.77%. 



Two news items preceded the opening of the markets.

In China, the real estate giant Evergrande, at risk of bankruptcy with its 305 billion dollars of debt, has announced that it will pay interest in maturity for the equivalent of 35.9 million dollars.

However, it is not clear what will happen to another bond: it is 83 million in interest due today.   



The Chinese central bank, to reassure the markets, has meanwhile injected the equivalent of 18 billion dollars in favor of the entire banking system. This has favored the rebound today of the Hong Kong stock exchange (+ 0.95%). 



Today, however, we are talking above all about another central bank, the American Fed. Yesterday he announced that "soon" the so-called tapering will begin, that is the reduction in the purchases of securities, now equal to 120 billion dollars a month, of the extraordinary program that served to support the economy during the Covid crisis. 



It is not yet clear whether this reduction will begin in November or December, but, added its governor, Jerome Powell, it will end at the end of June 2022. Only then will it be possible to think about the rate hike.

However, the cautious tones pleased investors.

Yesterday Wall Street closed up about 1% on the main indices.



All sectors were positive in Piazza Affari.

Greater discounts for Azimut (+ 1.88%) and Amplifon (-1.80%), greater discounts for Atlantia (-0.31%) and Tenaris (-0.54%).