Business Square timidly raises its head in July and together with the 22 points it also regains the plus sign in a difficult month for international price lists grappling with the trade war between the USA and China and with the ever more numerous (and strong) frictions between the various world powers .
From a stock market point of view, July can be described as a defensive month, in which the European stock exchanges tried, and succeeded, to limit the damages of actual and potential duties – apparently averted – on the car, waiting for more positive news, yes hope.
STOCK EXCHANGE: THE FTSE MIB IN JULY
In addition to the international match, however, the entirely internal one relating to the new government still affects Piazza Affari. The markets are waiting to see what and how many measures will be implemented by the Lega-M5s Executive after the very expensive promises made during the electoral campaign. For the moment though, the constant reassurances of the Minister of Economy, Giovanni Tria, seem to have calmed investors' spirits, despite the fact that the main economic data are not too encouraging: slowing quarterly growth and rising monthly unemployment.
With a flick of the tail in the last session, in which driven by Leonardo and the banks the Ftse Eb achieved a rise of 1,25%, the main list managed to archive the month of July in clearly positive territory, gaining 2,7%. The records of 2017 are far away, when the indices of the Milanese Stock Exchange galloped as fast as they could, but the losses finally seem to be behind us: since the beginning of the year, the partial balance speaks of an increase of about one and a half points. It does better Frankfurt (+4% in July), running in the last week thanks to the trade deal between Donald Trump and Jean Claude Juncker, which revived German auto stocks.
STOCK EXCHANGE: JULY TO BE FRAMED FOR LEONARDO
As for the performance of the individual stocks in the main list, it is impossible not to start from Leonardo. The giant led by Alessandro Profumo closed the month of July with an increase of 21%, leaving behind months of severe difficulty that began with the profit warning launched in the autumn of 2017 and continued with the presentation of the industrial plan arrived at the end of January.
To push the shares of the former Finmeccanica not only i first semester accounts, but also the upward revision of the 2018 estimates to which the 3 billion order for the supply of 28 NH90 multi-purpose helicopters to the Qatari Ministry of Defense contributed decisively.
The oil companies also performed well, following the performance of the black gold and achieving convincing results: +3,5% for Eni, even +13,3% for Saipem.
Also on the rise among the Bigs Generali (+ 5,7%), Poste Italiane (+ 11,1%) and Telecom Italy (+ 3,4%).
STOCK EXCHANGE: JULY OF THE BANKS
In clearly positive territory are the banks that in the previous months had paid dearly for the rise in the spread, the political uncertainty about the formation of the new government and the doubts about the possible Eurosceptic tendencies that our country could have undertaken (and still could) with the choice of certain figures in key roles.
Among the securities of the sector, it stands out Mediobanca, which in July achieved an increase of 11,58%, followed by a Where's Banca (+7,5%) in great shape. Photocopied increases for the two big names in the sector: Unicredit + 6% Intesa Sanpaolo +5,9%. Banco Bpm surpasses them, closing the month with a nice +8,2%. Outside the Ftse Mib it is also necessary to point out the performance of Banca Carige (+8,5%), despite the internal struggle over governance and the beacon of the ECB, e Monte dei Paschi, which has gained 7,8% pending its half-yearly report.
STOCK MARKET: THE GALAXY AGNELLI IN TROUBLE, BUT CR7 MAKES JUVE FLY
The laws of the market stop at nothing and the toughest and most painful month for the Agnelli galaxy ends in negative territory. The death of Sergio Marchionne and the sudden changes at the top management of the Lingotto companies penalized the performance of their shares which closed the monthly financial statements in the red.
The worst is by force of circumstances Fiat Chrysler which as at 31 July marks -10,6%. The collapse of last July 25 (-15,5%) weighed decisively on the stock's performance following the publication of the accounts and revision of the guidance on 2018 net revenues and adjusted ebitda. Instead, they try to limit the damage Ferrari (-2,3%) – which today, however, will have to face the important appointment of the six-monthly – ed Exor (-2,4%). Stocks are in stark contrast Cnh, which despite mourning and difficulties manages to score a good +10,3%).
Separate speech for the Juventus The CR7 dream has come true and the Stock Exchange continues to celebrate the landing in Turin of the five-time Ballon d'Or player who has already started training with the black and white shirt. The hopes of the eve, the indiscretions, the frantic search for news from the newspapers, the official announcement, days in which the shares of Juve realized increases cu which allowed the title to close the month of July with a rally: +32,2, XNUMX%.
