Waiting for Moody's to express its judgment on Italy tonight, Business Square it closed flat (-0,04%) and consolidated the week's gains, stopping at 21.947 points. It is still appreciated Atlantia, +1,4%. Quiet the bond, with the spread between Italian and German ten-year bonds down to 151 basis points (-1,29%) and the BTP yield down to +0,87%.
The other European stock markets also saw little movement, held back by new signs of weakness on the part of the German economy, while Wall Street is cautious, but positive, after mixed data on work.
By paradox Frankfurt is the best square and gains half a percentage point, above all thanks to ThyssenKrupp (+4,14%) in the wake of rumors that the company wants to sell the lift division. On the macro front the German industrial production in July it fell by 4,2% on an annual basis, but the figure does not seem to have weighed too much because there is hope for a recovery in August and September and for government intervention with measures to support the economic situation.
Paris gains 0,19%, while La Perla, a fashion brand originally from Bologna, makes its debut in style and leaps by 22,22%. Madrid -0,03%.
Sale London, +0,15%, with Brexit suspended between tragedy and comedy. Today the anti-no deal law also completed its process in the House of Lords, while on Monday the government wants to re-propose the motion for a vote in mid-October. Yesterday the Johnson family also split, with the resignation of Jo as deputy prime minister, younger brother of prime minister Boris.
Wall Street started off on the right foot and after some swings is moving into positive territory, following the optimism rekindled yesterday by the resumption of tariff talks with China in October. “Negotiations are good for everyone,” Donald Trump tweets. The spotlights are also on Jerome Powell who at 18,30 (Italian time) will speak at the University of Zurich in Switzerland. One wonders how the jobs data will be weighed by the Fed chairman. In August, the increase in employment was less than expected, but average hourly wages went slightly beyond forecasts. Trump waits for Powell and in the meantime, sarcastically, asks himself: "Where did I find this Jerome?".
Speaking of central banks, Russia today lowered rates by 0,25 points to 7% and opened up to new cuts in the face of inflation that continues to slow down.
US jobs data hold back the dollar. The euro takes little advantage of it and moves around 1,104. Among the raw materials, gold, after yesterday's crash, reversed course and climbed back to the 1530 dollar an ounce area. The precious metal has been the protagonist of a leap in the last 4 months which has brought it from 1285 dollars an ounce in May to 1566 in recent days. The return of risk appetite, with news of a resumption of negotiations on the trade front, cost about $35 an ounce yesterday (over 2%).
Oil was in modest reverse, with Brent futures, for November delivery, down 0,62% to trade at USD60,57 a barrel.
In the business square Atlantia, +1,4%, is number one. The purchases return to the well-founded hope that there will be a "review" and not a "revocation" of the concessions, as the new Minister of Transport Paola De Micheli. The plans of the Giallorossi government on the networks also support Telecom, +0,98%. The positive trail of the car continues, in particular Ferrari +1,16% and the Agnelli safe benefits from it, Exor, + 0,91%.
Banks are opposed: good Understanding +0,56%; sales on Ubi -0,71%. Utilities are weak: Terna -1,52%; Snam -0,99%; Enel -0,68%. In the energy sector it is also lagging behind Eni -0,71%. Among the titles in reverse nexi -1,26%; Finecobank -0,89%; Diasorin -0,75%.
