FED EFFECT: TOKYO AND WALL STREET BRAKE
THE SPREAD FALLS, THE BANKS CELEBRATE
Tokyo the mid-August session is about to close with a drop of around 2%. The appreciation of the yen and the belief that the Fed is now about to reduce purchases on the market weigh heavily. Down the other Asian lists, with the exception of Hong Kong +0,13%, stopped yesterday due to a typhoon.
Consistent reductions also a Wall Street: Dow Jones -0,73%, S&P -0,52%, Nasdaq -0,41%. On the contrary, the European stock exchanges closed their sixth consecutive upward session: the Ftse Mib closed in Milan up by 0,48% at 17.463 points, the Frankfurt Dax and the Parisian Cac 40 gained respectively 0,27% and 0,53% while Spain's Ibex 35 rose 0,35%. Only the Londoner the FTSE 100 closed in the red.
Keep it up the shift of financial flows towards the markets of the Eurozone, which now seems to be on its way out of the recession.
BUND ET BOND RISE: THE BTP THANK YOU
After six consecutive quarters of decline (the last growth was recorded in the summer of 2011), the GDP of the euro area it grew by 2013% in the second quarter of 0,3, exceeding the forecasts of economists who indicated an average growth of 0,2%.
I'm still contracting the countries of Southern Europe. For Italy, the preliminary reading of GDP showed only a slowdown in the contraction to -0,2% in the second quarter from -0,6% in the previous quarter.
The novelty had an immediate impact on the market sovereign debt. The yield on the 1,825-year German Bund rose, shooting up today on the secondary market to 2012%, the highest since March 3,23 after the morning's auction in which Germany placed 4 billion 1,80-year Bunds, out of the 1,57 billion expected, at a rate average rose to 1,3% from the previous 1,6% and a demand/supply ratio down to XNUMX from XNUMX.
Even in the USA, the expectation of a rise in market rates has pushed the decennial T bod at a yield of 2,71%, just one bp off the high in the last two years.
Unlike what happened at the beginning of summer, the trend does not affect the countries of Southern Europe: the yield of the BTP falls to 4,16% and the spread falls to 235 (-6 basis points). For analysts, the descent can continue up to 210.
APPLE RETURNS ABOVE 500, SOS AT MACY'S
Apple +2,5% it moved back above $500 for the first time since January 23rd. The effect of the tweet continues with which the investor Carl Icahn declared that he has purchased a significant position on the stock and believes that it could rise up to 700 dollars if the CEO Tim Cook pushes for a more substantial buyback.
On the contrary, the quarterly of disappoints Macy's -4% , one of the most sensitive observers of US consumption. In addition to reporting lower-than-expected second-quarter earnings and sales, the chain cut its outlook for the full year. Macy's was forced to give discounts to customers which limited spending on unnecessary goods. The consumer goods sector lost about 1%.
MPS WINS THE PALIO OF AUGUST
Gallop Monte Paschi Bank +2,76% , between lively and unusual exchanges in a semi-holiday session.
Almost 234 million pieces changed hands during the day compared to a daily average of about 30 million pieces over the last 88 sessions. Alesandro Profumo reiterated that there are no foreign investors at the door. Also highlighted were Baco Popolare +4,41% and Ubi +3%.
Weak on the contrary Unicredit and Intesa which closed the session up respectively by 0,26% at 4,702 euros and 0,6% at 1,5 euros despite Credit Suisse raising the target price of both from 4 euros to 4,9 euros (neutral rating ) and from €1,7 to €1,8 (outperform).
It also sparkles the luxury of Brunello Cucinelli +3,75% . new all-time high. High volumes traded: more than 123 pieces against an average of 30 over the last 100 days.
Highlights too Generali +1,24% to 15,52 euros) with Fitch confirming the A- rating (negative outlook). The agency also confirmed the BBB+ and BBB- rating, respectively, on the senior and subordinated debt of the Lion of Trieste, removing the negative watch rating set last March.
At the bottom of the price list Atlantia -0,76% to 14,33 euro), with Equita Sim which confirmed the buy rating and the target price of 15,9 euro. Telecom Italia also decreased slightly -0,49% : Equita confirmed the recommendation to hold and the target price at 0,6 euro.
Among the industrialists, they retreat Prysmian -0,3% and Finmeccanica -0,6%. Little move Fiat.
