Italy in mourning for Raffaella Carrà is ready to go crazy tonight for blue football. In the meantime, news arrives that could cheer the hearts of the nerazzurri. On the Shenzhen Stock Exchange, the title of Suning Corporation, among other things the controlling shareholder of the Milanese club, rebounded overnight by 10% after the announcement of the rescue plan for the household appliance giant created by Zhang, which will have to cede control to a consortium led by the local authorities of the regions most affected by the crisis of the group. The giant Alibaba is also in the game. The operation could have positive effects for the Italian club, but the conditional sentence is a must. These days, President Xi Jingping certainly does not have a light hand towards private groups that have moved with excessive enterprise.
XI HITS THE NEW ECONOMY
In fact, Xi Jingping's offensive against the gig-economy continues. After the stop imposed on Didi (-5,4% the shares of the Japanese Softbank, a major shareholder of the Chinese Uber) it was the turn of two other apps accused of not complying with IT security standards. Lose new blows Alibaba -2,4 and Tencent -3,7%. Then yesterday, the crackdown on biotech was triggered: Beijing placed restrictions on pharmaceutical companies, emphasizing that only truly innovative drugs will be admitted.
- Against this backdrop, the slowdown in the Chinese indices continues, accompanied by the slowdown in the economy emerging from the Poi indices. The so 300 of Shanghai and Shenzhen -0,3% is at its lowest for three months.
- The Chinese downturn does not affect the other markets in the region. Stock markets in South Korea +0,7%, Singapore and Japan +0,4%
RECORD PROFITS FOR SAMSUNG, FED MINUTE WAITING
- Samsung has announced that it expects a 38% increase in profits,
- The Australian dollar rose pending the decisions of the central bank which, for the first time, could today decide to suspend purchases on the market.
- the theme of tapering does not seem to scare Wall Street for now, which in a few hours will reopen its doors to research, after the long weekend of the organ consecutive historical record. Futures signal a positive start
OIL TO THE STARS OPEC + AGREEMENT JUMPS
The theme of the day is the run of oil this morning climbed above 77 dollars after the failure of the OPEC + summit due to the contrasts between the United Arab Emirates and Saudi Arabia. The Wall Street Journal points out the growing contrasts between the Gulf dynasties. The cartel's next moves are not clear, starting with the already announced increase in production of 400 barrels per month.
ITALY, STRONGER RECOVERY. TOP BUSINESS PLACE
The Italian economy "is recovering from the depths of the recession" notes the Minister of Economy Daniele Franco, a person alien to flights of fancy. But the march of the Bel Paese towards levels more in keeping with its productive potential (in the absence of inflationary tensions for the moment) represents the most reassuring note of a Monday orphan of the US Stock Exchange. The Italian services PMI index jumped by more than three points (from 53,1 to 56,7) after the six gained in May, confirming that domestic demand is also recovering.
Piazza Affari is in first place in Europe with an increase of 0,63% to 25.441 points, a whisker above London +0,58% and Madrid +0,45%.
In practice, the other exchanges were flat, held back by the absence of American operators: Frankfurt +0,07%, Amsterdam +0,06%.
Paris +0,22%. Sale Arcelor Mittal +1% against the increase in prices of ferrous materials,
THE SUPERMARKET WAR BREAKS IN LONDON
The only important news comes from London: a pitched battle is looming around one of the big names in large-scale distribution, Morrison, up by +11% after the Apollo fund decided to take the field against Fortress which had already defined the purchase.
THE SPREAD AT 105, THE EQUITY CRUSHES THE SOVEREIGN
The spread closes at 105 points. The 0,80-year yield at XNUMX% did not move much.
During the first half of the year, purchases of Sovereign Bonds by managers reached 33 billion dollars, a figure that pales in comparison with the numbers of equity, which attracted purchases for 580 billion dollars, the record figure for twenty years. In practice, bonds have only been able to count on the support of central banks. BTP purchases by the ECB since the beginning of the pandemic amount to 421,64 billion euros.
MEDIOBANCA LEADS THE BANKING RALLY
Banks and oil companies were the two engines of the race for Piazza Affari. The confirmation of the forthcoming go-ahead for credit dividends translated into a push to prices still significantly below book values. In this context, operators' expectations are triggered for the next moves of Leonardo Del Vecchio, who has risen to 18,9% of Piazzetta Cuccia. The track of a possible integration with Unicredit +1,74% is being beaten, thanks to the action of Mario Orcel on analysts. Citi on the contrary focuses on the Mediobanca and Mediolanum tandem, little movement on the stock exchange. Great animation, always according to the Risk, around Banca Bpm, the queen of the first semester.
RUNNING OILS, MAIRE'S BIG SHOT
The failure to reach an agreement in Opec z+ resulted in a large upward incentive for oil companies. Tenaris scores an increase of one percentage point ahead of Eni. Big hit by Maire Tecnimont +3,92% which has secured a contract with Indian Oil for the construction of a plant for polypropylene, worth 170 million dollars.
The automotive sector is highlighted: Stellantis advances by 1,4% supported by the buyout of Equita, Pirelli ditto. Weak Hera -2,64%, which did not recover the dividend. Scotto tone also Amplifon
BLITZ OF APOLLO ON RENO DE MEDICI
Note the change of ownership in Reno de Medici +3,86%. Apollo, not satisfied with the battle waged in England for control of Morrison, took control of the paper group on Monday from the shareholders Cascades and Caisse des Dépots du Quebec 365 million. The operation, carried out at a price higher than the quotation of 24%, will be completed by a takeover bid.
MOURINHO STILL WITCHES ROME
Roma Calcio continue to shine +10,63% under the energy boost of José Mourinho who makes the fans dream. Meanwhile, the new stadium project in the capital is taking off.
