The stock exchanges today, November 30, 2021.Variant Omicron and Powell weigh on the markets. For the Fed president, inflation is no longer “transitory”, just to speak of an accelerated squeeze

MILAN – The words of the number one of Modern, which al Financial Times said current vaccines will have a hard time shielding us against Omicron, scare investors. In the afternoon, the words of Fed President Jerome Powell also contribute to the weighting of the lists according to which “it is time to stop talking about transitory inflation” and for this reason “it is appropriate to discuss an acceleration of tapering”. In particular, said Powell, it is appropriate “at the next meeting in a couple of weeks to discuss whether it would be appropriate to finish our purchases a few months earlier”,. The European indices therefore all end in decline In the afternoon, London marks a decline of 0.78%, Frankfurt loses 1.21%, Paris moves back by 0.81% e Milan he scores on the final -0.87 percent. Also down Wall Street: at the close of European trade the Dow Jones lost 1.7% and the Nasdaq 1.78%

As happened on last week’s Black Friday, oil also registered a backlash and, indeed, shows no signs of recovering during the session. In the afternoon, Brent lost 3.9% below $ 71 a barrel and WTI lost over 4 percentage points to under $ 67. Meanwhile, expectations are growing that OPEC + will postpone the increase in crude oil production at next week’s meeting: these rumors had given breath to the prices of black gold, but this morning’s news depressed the mood of investors.

In general, the film seen on Friday is back on the air with the S & P500 futures yielding more than 1% and the US Treasuries, identified as a safe haven asset, which see yields fall below the levels touched in the last session of last week: it means that prices, which move in reverse, are rising rapidly. On the other hand, the “cyclical” sectors that go hand in hand with macro prospects suffer the most: retail, travel, car manufacturers are among the sectors that suffer the greatest blow.

In the morning the Asian lists have already paid the account of the uncertainty: the B.bear of Tokyo reversed course during trading and after rising in the morning, the Nikkei index closed down 1.63% at 27,821.76 points, the lowest level since 7 October; the Topix index fell by 1.03% to 1,928.35 points. The Tokyo square was well oriented in the morning, following in the footsteps of Wall Street whose concerns about the covid dissipated yesterday; but the indices plummeted after the FT’s publication of Moderna’s interview with Stephane Bancel, who believes the current vaccines are less effective against the Omicron. The Hang Seng index of Hong Kong closed the session down by 1.58%, settling at 23,475 points, the lowest level since May 2016, in the wake of renewed fears for the Omicron variant. Since the beginning of the year the Hong Kong it lost 22%, black jersey among the main world stock exchanges, also serving the Beijing crackdown on private companies.

The spread between ten-year BTPs and German Bund counterparts, it closed up at 132 points. The yield on Italian bonds falls just below 1%. The day was rich from a macroeconomic point of view, with data on GDP and inflation in Italy and other countries. The French GDP in the third quarter it was confirmed at 3% compared to the previous three months and after a progress of 1.3% in the second quarter. Disappointment instead come on consumption by French households which decreased by 0.4% in October compared to + 0.2% in September. Analysts had expected an unchanged figure. Tension on the front of the prices: producer prices in France they jumped in October by 14.9% compared to the same month of 2020 and by 2.9% compared to September. According to the preliminary reading released this morning, however, consumer price inflation increased by 2.8% on an annual basis compared to 2.6% in the past reading and consensus. Bloomberg. Record increase also for Italian inflation, while GDP was confirmed at + 2.6% in the third quarter of the year.

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