Spread stable at 144 points, oil rises
On bonds, it is stable spread between BTp and Bund. The yield spread between the benchmark 10-year BTP and the German Bund of the same duration is indicated at 144 basis points, the same value as the closing the day before. The yield on the benchmark 10-year BTP, on the other hand, is down to 3.56% from 3.59%.
On the foreign exchange market, the euro is trading at 1.1048 dollars (from 1.1010 on Tuesday at the close). As mentioned, the yen is strong, at 156.14 for one euro (from 157.2), and 141.44 for one dollar (from 142.7). Oil is trying to recover after the debacle of the day before: the Brent North Sea contract for November is worth 70.30 dollars a barrel (+2.6%), the Wti contract for October is 66.95 dollars (+1.83%). Finally, gas is weak at its lowest level in six weeks: it is trading at 34.8 euros per megawatt hour in Amsterdam (-1.2%).
Tokyo down, yen price hike weighs
The Tokyo Stock Exchange ended the session lower, with sales concentrated in the auto sector, weighed down by the revaluation of the yen, at an 8-month high against the dollar. The benchmark Nikkei index fell 1.49% to 35,619.77, with a loss of 539 points. On the currency front, expectations of a new interest rate hike by the Bank of Japan are giving strength to the Japanese currency, at 141.20 against the dollar, and just above 156 against the euro.
Chinese stock markets opened the session in negative territory: the Shanghai Composite index dropped 0.69% in the early stages, to 2,725.24 points, while the Shenzhen index lost 0.60%, to 1,491.23 points. Hong Kong opened with a sharp correction: the Hang Seng index dropped 1.41% in the early stages, to 16,991.80 points, slipping to its lowest level since February, below 17,000 points.
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