Le bags remain nervous, with investors still today uncertain about the direction to take and after various ups and downs in the end the European stock markets closed slightly higher, in line with the trend of Wall Street mid day.
Milano rose by 0,13% to 31.782 basis points and are only slightly firmer Frankfurt + 0,3% London + 0,25% Paris + 0,29% Madrid +0,72%. Back off Amsterdam -0,21%.
Thus ends a quiet session and an eighth of a roller coaster, which made the heart of the stock market beat a lot due to the surge in the yen, the fears of an imminent recession in the USA, the risk of an escalation of the conflict in the Middle East. Some of these concerns have been reduced, so much so that yesterday it S & P 500 in New York he scored his best session since 2022. The continuation of the Middle Eastern crisis, on the other hand, allows oil to start achieving a brilliant performance, with an overall increase of around 3% for Brent and WTI futures, which are currently making slight progress.
Falling dollar, does Trump want to muzzle the Fed?
On the foreign exchange market today the dollar it cools again against the Japanese currency with a cross at 146,38. The euro is also gaining and finds an exchange rate at 1,092.
Meanwhile Donald Trump raises alarm bells about monetary policy. In fact, the aspiring president yesterday said that the White House should have a say in the Fed's decisions.
Piazza Affari, sales on Generali and Unipol, while the banking risk does not light up the price list
Business Square heads into the weekend with a session with little movement in terms of percentage, but very lively during trading. The first and last positions on the main index were contested by two big names like Leonardo +2,32% (on the expectation of new orders) e Generali, -1,9% (with a quarterly result in line with estimates). However, the price list failed to ignite with bets on banking risk. In this regard the headlights remain turned on Unipol, -1,32%, which today also presented results in line with analysts' estimates. The via Stalingrado giant is a shareholder of Pop Sondrio (+ 1,04%) and Bper (+0,65%) and by virtue of this he is the main suspect as an aspiring to Montepaschi (+0,6%), although not everyone in the government would be in favor of this epilogue. The leaders of the Bolognese company downplay it, but the rumors do not die down.
The session was generally favorable to many stocks in the financial sector, starting with Banking Mediolanum +2,02%, followed by nexi + 1,91% Unicredit + 0,78% Post + 0,93%.
The black shirt of the day instead goes to Generali, Despite the half yearly confirmed the health of the Trieste Lion, with two billion in profits. However, the experts were not enthusiastic about the Non-Life sector.
Italian inflation rises again
Page macroeconomics was today richer in Europe than in the USA.
In particular, it dates back toinflation in Italy in July, according to Istat data which estimates growth of 0,4% on a monthly basis and 1,3% on an annual basis from +0,8% in June. The data is in line with the preliminary estimate.
In Germany price pressure remains stronger: +2,3% in July is confirmed, with a monthly increase of 0,3%.
While the Paris Olympics are about to close their doors, the France instead the data arrives on unemployment, which fell to 7,3% in the second quarter (-0,2%).
The spread is widening, but rates are falling
In this context, the purchases rewarded the bloc's government bonds. The Italian and German 3,68-year bonds see yields falling to 2,19% and XNUMX% respectively, for one spread up to 149 basis points.
Rates were also lower in the morning Treasury auctions. Today the Ministry of Economy offered annual bonds, expiring on 14 August 2025, for 7,5 billion euros. The entire amount was allocated at an average rate of 3,11%, lower than July's 3,48%. Demand was high, with requests for over 11,3 billion euros. The Bank of Italy reports that the auction will be settled on 14 August.
