Markets are heading to end the week on an optimistic note following confirmation that US-China tariff talks will resume in September. Milan, awaiting the outcome of the consultations with the parties of the appointed Premier Giuseppe Conte, earns another half a percentage point around 21.500 points, the highest since the beginning of August. Frankfurt +1% and Paris +0,7% are up sharply. Madrid also rose +0,5%.
THEeuro it weakened against the dollar to 1,103 (-0,2%), after the publication of data on inflation in the euro area. In August, core consumer prices rose by 0,9% yoy, the same increase in July, less than forecasts. In Italy, inflation harmonized with the calculations valid for the Eurozone shows an increase of 0,5% year on year, from +0,3% in July, in line with forecasts.
In July, the unemployment rate in Italy rose to 9,9% (+0,1 percentage points compared to the previous month). This was noted by Istat, underlining however that there was a decrease in the number of unemployed (-121 thousand, -0,5%). The youth unemployment rate rises to 28,9%,
The 1-year BTP has not moved much, consolidating its yield below 0,97% (at 0,70%). The Bund has also remained unchanged at -XNUMX%. The spread is around 165 points.
The oilmen are positive: Eni + 0,7% Saipem+ 1%.
In Piazza Affari it shines Cnh +5,28% to 9,24 euros, continuing yesterday's rally, in the wake of rumors according to which the group of the Agnelli Elkann family is considering the spin off of the Iveco brand, an operation that could be announced during the Capital markets day on September 3 on the New York Stock Exchange.
Pirelli also rose +2,6% e Fiat Chrysler + 1,1%.
The banks settle down, with the exception of Ps + 3%. Where's Banca lose 1,2%, Bpm bank -1,3%. Savings companies are positive: Azimuth+ 0,7%.
Italian post + 0,5%.
The events in Hong Kong, on the eve of a high voltage weekend, weigh on Ferragamo -0,9%.
Out of the main basket, sapphire +5,3% after renewing the license with Hugo Boss until 2025.
