European stocks rise after Joe Biden withdraws. Tokyo closes with a minus sign

(The article is being updated)

European stocks rise. Quarterly reports closely watched

Piazza Affari shares continued to rise in their first week of trading, like other European stock exchanges, following U.S. President Joe Biden’s decision to withdraw from the race for the White House and endorse Vice President Kamala Harris.

The FTSE Mib index rose 0.93% to 34,530 points in the intraday session. Elsewhere in Europe, Frankfurt Dax 30 The operating income is 1.38%, such as Paris Cac 40 (+1.40%). Not bad in the end London (FTSE 100) recorded +0.80%.

On the list, A2A posted a gain of +2.28%, in the banking sector Mps +2.12%, Unicredit +1.81% and Banco Bpm +1.87%. In the energy sector, Enel +1.10% and Eni +0.10%. Pirelli rose 0.15%.

As he explained Radiocor, For weeks, investors have been betting on Donald Trump in the White HouseBut now they must assess whether Biden’s withdrawal will increase the Democrats’ chances of victory. The candidacy of Kamala Harris, currently supported by the US president, has not yet been determined, and we will have to wait for the final choice of the National Convention on August 19. Meanwhile, on a day without macroeconomic data, the People’s Bank of China unexpectedly cut its lending rate (from 3.45% to 3.35%) to a new historical low. It should not be underestimated that tensions in the Red Sea are worsening with the conflict between Israel and the Houthis in Yemen. Oil prices rose, with Brent crude breaking through $83 per barrel (+0.6%).

In terms of exchange rates, the Eurodollar was almost unchanged at 1.088, while the single currency weakened against the Japanese yen at 170.4 (-0.56%). The USD/JPY cross was at 156.4 (-0.57%). The price of natural gas transportation on the Amsterdam platform was 31.7 euros per megawatt hour, down 1.4%.

Luo The spread between 10-year BTP and German Bund The interest rate fell from 131 points at the beginning of the year to 129.3 points, and the interest rate hovered around 3.749% from the previous 3.76%, hitting a four-week low. B.C. This leaves the door open to the assumption of a rate cut in September – a hypothesis also reinforced by the latest macro data, with markets pricing in another rate cut, possibly by the end of the year.

EUR The dollar barely fell below $1.09, and fell after President Joe Biden decided to withdraw from the White House re-election race, paving the way for another Democrat’s challenge. Donald Trump.

Biden endorses Vice President Kamala Harris Harris quickly gained the support of many in the party, but some prominent figures remained silent. The single currency changed hands at $1.0884 (+0.08%) and 170.69 yen (-0.36%). USD/JPY fell to 157.78 (-0.45%).

Asia upside down: Tokyo in red, Chinese stocks mixed

Tokyo and Chinese stocks are in the red this morning following losses on Wall StreetInvestors are awaiting a decision from the Bank of Japan (BoJ) and assessing the impact of Joe Biden’s withdrawal from the U.S. presidential race. As of 1 GMT on Monday, the Nikkei fell 1.03% to 39,650.80 points, and the Topix fell 1.02% to 2,831.59 points. Hong Kong’s Hang Seng opened 0.40% lower at 17,348.04 points. The Shanghai Composite fell 0.65% to 2,963.09 points, and the Shenzhen Component fell 0.29% to 8,877.34 points. Today China’s central bank cuts two key interest ratesThe rates, which are widely watched by markets, are at historic lows and are aimed at stimulating growth following a string of disappointing economic indicators.