Bubbly session for European stock exchanges which in the middle of the last session of the week are on the rise, with their eyes focused on the quarterly results but above all on a roundup of macroeconomic data useful for measuring the growth of the Old Continent (+0,7% against the expectations of a +0,2 %), after the USA entered a technical recession (-0,9%).
Milano presses on the accelerator and is in the front row among the continental indices, (+1,91% with the Ftse Mib at 22.349 points) also driven by the quarterly reports and the Italian GDP figure higher than expected (+1% and +4,6 % on an annual basis). Well Paris (+1,2%) after the better figure than the GDP estimates for the second quarter (+0,5%, against -0,2% in the first three months of 2022), and also on the rise Madrid (+0,87%). More cautious Frankfurt (+0,80%), with the German GDP showing zero growth. Also Amsterdam travels in positive territory (+0,41%) and London, up 0,4%.
Italy's GDP accelerates in the second quarter, inflation holds
In the second quarter of 2022, Istat estimates that the GDP in Italy – expressed in chain-linked values with the reference year 2015, adjusted for calendar effects and seasonally adjusted – increased by 1% compared to the previous quarter and by 4,6% in trend terms. This happens while the locomotive of the continental economy, the Germanyhas stopped: growth conditions are stagnant compared to the first quarter (+1,5% year on year). Well instead the Spain where the economy is growing by 1,1% on a quarterly basis and by 6,3% on an annual basis, in France respectively 0,5% and 4,2%.
New flare of inflation in the Eurozone, which in July touches the record of +8,9% on an annual basis from 8,6% in the previous month as per market expectations. While in Italy it "slows down" to 7,9%, but it is new record for shopping cart, which grew by 9,1% in July, the strongest since 1984. Both the prices of food, home and personal care products accelerated (from +8,2% to +9,1%) and those of frequently purchased products (from +8,4% to +8,7%).
Spreads down, euro strengthens. Oil and gas up
The trend of high volatility continues due to the alternation of fears about the recession and about inflation. The spread between BTPs and Bunds travels on the threshold of 239 points (-1,14%) with the yield on the Italian 3,23-year bond touching XNUMX%.
On the foreign exchange front the euro it strengthens to 1,021 dollars (1,0152 at yesterday's close). Up i oil prices (the Wti rises by +1,98% to 98,33 dollars a barrel, the Brent exceeds the threshold of 109 dollars (+1,9%), while those of the natural gas (-3,07% to 198,93 euros per megawatt hour on the European market, after fluctuations that had brought them back above 200 euros).
Eni's rush in Piazza Affari, Leonardo suffers
Once again, the quarterly reports are driving the list. Above all Eni ed Enel which rise respectively by 5,43% and +3,54%. The six-legged dog concludes the first half with a leap in net profit of 7,398 billion.
The most significant increases Interpump (+ 4,96%), Pirelli (+ 2,98%), Cnh Industrial (+ 2,7%), Recordati (+ 1,8%), stellantis (+ 2,1%), stm (+ 1,7%), Telecom Italy (+ 2,7%), Unicredit (+ 2%) and Unipol (+ 2,6%).
Well the luxury with Moncler (+2,79%), energy with Prysmian (+2,62%) and the car with Pirelli (+ 3,76%) and stellantis (+ 1,98%).
Among the banks, purchases are rewarding General Bank (+ 3,51%), Unicredit (+ 2%), Intesa Sanpaolo (+ 2,23%), Bpm bank (+ 2,06%) and Bper (+ 1,48%).
While in the queue Leonardo (-7,42%) after i results for the quarter they did not surprise and the company's targets for the current year have not been raised.
Bad too nexi which loses 2,72%, Amplifon 0,96% and Campari Present in several = 0,83%
Slow day for Terna which marks a decrease of 0,51% e Atlantia (-0,22%).
