European stocks open steady and wait for the brexit and the decline of Italian bonds
2018-10-10 09:29 am | Resource: News | No Views : 147
European stock markets started trading flat on Wednesday as investors continued to focus on the continuing confrontation between Italy and the EU over the country's 2019 budget. Italian Parliament speaker Robert Fico urged calm in the negotiations, while Deputy Prime Minister Matteo Salveni said the government would not give up Brussels demands.
Meanwhile, after a report on the expected Brexit deal was announced next week, the British Union's Minister of Finance expressed confidence that London would reach an agreement with Brussels on withdrawal from the bloc "this fall." Earlier in the day, it was reported that about 30 Labor MPs were ready to challenge their leader, Jeremy Corbin, and support Prime Minister Teresa Mae's plan in the Chekers' plan for the Brikst.
Italian debt bonds fell with budget turmoil
The government's sovereign bond prices in Rome fell sharply on Wednesday, prompting higher yields ahead of the start of trading in Milan. Volatility continued to follow the decline in the previous session after it identified multi-year targets. For comparison, German debt showed a mixed bag standard, but with a strong advance at the end of a long period of yield curve.
In the midst of a dispute with the European Union over the Italian budget, Roberto Fico, speaker of the House of Representatives, called for calm in the negotiations on spending at the national level. Investors are listening to signals from both sides to determine whether a compromise will be reached at the moment and if the eurozone is considering another crisis. The euro has changed slightly.
The two-year bond yield rose 8.3 basis points to 1.502% at 8:48 CET. The 10-year benchmark rose seven points to 3.58% and the 30-year bond index added 5.2 points, shedding 3.998%.
European stocks open
- The FTSE 100 was down 0.11% at the opening bell, with the worst-performing Royal Mile falling early.
- The DAX index opened 0.04% in negative territory.
- While the CAC 40 index also fell 0.04%.
- Meanwhile, the FTSE MIB index fell 0.56% in the first minutes of trading, affected by the banking sector.
The euro rose 0.10% against the dollar to trade at 1.1503 at 9:06 CET, while the pound gained 0.28% against the greenback to trade at 1.3180 at the same time.
Time frame Used - four hours The NASDAQ 100 is moving in a sideway direction in the near term. The NASDAQ 100 still faces resistance and selling pressure around the 7054 level forming a technical pattern called a rising wedge. In view of the technical indicators Both the RSI and the Stochastic are indicating a negative divergence between the RSI and the RSI as the Stochastic indicates that the indicator…
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