Le European stock exchanges closed moderately higher in the last session of September, with all eyes on the personal data macro coming soon and on the risk of one shutdown in the United States. Wall Street looks weak: The meeting between Donald Trump and Democratic leaders ended without an agreement on federal funding, and Vice President J.D. Vance warned that the government is "headed for a shutdown," blaming Democrats. According to MPS, without an agreement, many federal agencies will suspend non-essential activities, risking delays in the release of macroeconomic data, including the jobs report scheduled for Friday.
In Europe, the focus remains on inflation: in France rises to 1,2% on an annual basis (+0,9% in August), but falls by 0,1% on a monthly basis; in Germany accelerates to 2,4% (from 2,2%), while in Italy Preliminary estimates indicate -0,2% monthly and +1,6% annual, unchanged from August. EU inflation data will be released tomorrow. Against this backdrop, Middle East peace plan announced by Donald Trump has gained consensus.
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A Business Square, banks remain in the spotlight for possible taxes and mergers. Among the hot names are MediobancaVittorio Grilli for the presidency and Francesco Pascuzzi, Riccardo Mulone and Alessandro Melzi d'Eril in the running for CEO. Also watch out for BRUNELLO CUCINELLI, on the eve of the early release of sales for the first nine months of 2025, with Bernstein raising the rating to Outperform, target 119 euros.
The best of the day is Azimuth, at the top of the list thanks to the favorable report from Mediobanca. Also doing well Prysmian, chosen as the preferred bidder for the Eastern Green Link 4 project, a high-voltage cable connection between Scotland and England with an estimated value of around €2 billion. Among the worst performers were Saipem, Amplifon e Mediobanca.
Lo spread BTP-Bund stable at 85 points, with the Italian 10-year yield falling to 3,55%.
In this climate of uncertainty, the refreshes all-time highs before falling back below $3.800 an ounce, while the dollar slows.euro consolidates above 1,17 and the Petroleum remains weak, with Brent below $68 and WTI above $63.
