Final recovery, but closing in the red for the European lists, shaken by the mood swings on Wall Street. Business Square it limits the losses to 0,62%, falling to 19.865 points. Downsides bite stm, -4,22%, in a heavy context for semiconductor manufacturers, in the aftermath of the Nordic Semiconductor (-3,3% in Oslo). Sales on Prysmian -2,31% Interpump -2,2% nexi -2,1% Ferrari -2,05%. On the other hand, the rally of Telecom, +1,78% and some banks are well bought. Primarily Mediobanca +1,73% and Bpm bank +0,96%. Well Eni +1,42%, while Atlantia rebounds, +0,75%, pending a solution to the conundrum on concessions. Off the main list it is appreciated Catholic, +0,76%, who decided to join the Ops launched by Intesa Sanpaolo (-0,02%) on Ubi (-1,26%).
In the rest of Europe they suffer Frankfurt -0,87% Paris -0,97% and Madrid -1,02%, while London is practically unchanged. After the progress made on the eve, the squares of the Old Continent are looking with apprehension at the risk that the spread of Covid in the USA could hold back the world's leading economy for longer than expected. Yesterday, the American stock market changed pace after the news that California decided to close bars, restaurants and other indoor activities, while the school districts of Los Angeles and San Diego chose to start the school year online. Worrying signs in a state that is worth about 15% of the total US GDP.
Today, however, the New York price lists seem to follow an inverse script: after the opening bell out of tune ithe Dow Jones is up (+1,3%) together with the S & P 500 (+0,46%), while the Nasdaq it zeroed out the losses. On the other hand some important ones quarterly they are not disappointing expectations. In particular JP Morgan and Citigorup presented declining but better-than-consensus accounts. Only the former, however, is rewarded by purchases on the Stock Exchange. Bad Wells Fargo, which reported a net loss of $2,4 billion and announced a dividend cut from 51 cents per share to 10 cents. After yesterday's ups and downs, Tesla appears calmer and is currently up 1,5%.
In a context that is still volatile, with the coronavirus continuing to sow death and poverty in the world, while the WHO warns that "too many countries are going in the wrong direction", thegold maintains its appeal and moves on the values of the eve of 1.813 dollars an ounce. The Petroleum it looks to the OPEC+ appointment and is making moderate progress, with Brent at 43 dollars a barrel.
On the currency market theeuro it remains up against the dollar and brings the exchange rate to 1,14.
With investors looking for returns, the positive phase of Italian paper continues. The spread with the German 164-year bond it falls to 1,77 basis points (-1,21%) and the BTP rate closes at XNUMX%.
Yields decreased in today's auction, in which the Treasury placed a total of 10 billion euros in three bonds. 4,5 billion were allocated in the new 7 year September 2027 with a rate of 0,95%, the lowest since March; €3,5 billion in the third re-opening of the 3-year term and €2 billion in the tenth tranche of the 20-year term, with yields of 0,30% and 1,91% respectively, the lowest since last February for the shorter term and since October 2019 for the 0,5-year term . Attention now turns to the EU summit on Friday and Saturday, which could produce a certain volatility on the market, especially if the agreement on the 'Recovery fund' were postponed, and on the ECB meetings, which should maintain a 'dovish' approach in expectations , and BoJ. On the macroeconomic front, the news is mixed: industrial production in the euro area recovered less than expected in May, and German investor sentiment deteriorated slightly in July. On the other hand, comforting news comes from China, which in June recorded the first trend growth in imports since the beginning of the epidemic and export growth of XNUMX% decidedly above the consensus.
