US markets continue to break records as we await the next US inflation data, due out today, and Jerome Powell's testimony to Congress in the next few days. And the safe march of the Bull, at least for now, has the better of the worries about the pandemic, in a strong recovery to the point that Emmanuel Macron decided yesterday to go the hard way: to enter the cinema or restaurant you will need a health pass. Everywhere, not only in the Bel Paese exalted by the Azzurri, there is still a desire to party: Walt Disney rises by 4% on the wave of the record debut (80 million dollars in weekend collections) of the latest film in the Marvel series . And the alarm of Tharman Shanmugaratnam, a prominent member of the Singapore government and chairman of the G20 commission of experts who on Friday night, released a report in which he proposes to use the Organization's funds on a large scale, risks passing over in silence World Health Organization, the World Bank and the International Monetary Fund to defend humanity from a pandemic that could break out at any moment.
UBS: 150 BILLION LIQUIDITY FOR CHINESE STOCK EXCHANGES
- China's stock market remains at parity: the CSI 300 index of the Shanghai and Shenzen stock markets is down slightly.
- Better than expected the trade balance data. In June, exports in yuan rose by 20% year on year, accelerating from +18% in May and against the +15% expected by the consensus. Imports are also doing well, albeit down: +24%.
TIK TOK POSTPONES THE LANDING ON THE NASDAQ
- The Chinese authorities show that they want to be increasingly present in issues concerning the relationship between large digital companies and their users. The Wall Street Journal has revealed that ByteDance, the company of the TikTok app has decided to postpone its listing project in Hong Kong and on the Nasdaq to a later date, after a series of meetings with the Chinese agencies that oversee the protection of consumer rights.
- UBS said China's central bank's decision to cut reserve requirements by half a percentage point results in a $150 billion liquidity injection that could trigger a rally on the Shanghai and Shenzen stock exchanges.
- Cautious optimism also in Tokyo, in view of the Olympic appointment. The Nikkei gained 0,5%, Hong Kong's Hang Seng 1,5% and Seoul's Kospi 0,5%.
ELON MUSK SHOW IN COURT: TESLA +4%
- New records for US Stock Exchanges: Dow Jones and S&P 500 +0,36%, Nasdaq +0,2%.
- Once again Elon Musk rose to prominence, yesterday in court to defend the acquisition of Solar City by Tesla +4%. "I'd like to leave the leadership of the company - he said - but I don't think he would survive".
VIRGIN GALACTICS -17%; AFTER THE FLIGHT BRANSON ASKS FOR MONEY
- Spatial pirouettes for Virgin Galactics after Richard Branson's outing in the cosmos: the stock opened at +7% and then plunged to -17% on the news that the British billionaire intends to launch a capital increase of half a billion dollars.
- The 1,37-year Treasury Note was flat at 120%. US Treasury auctions are underway for a total of XNUMX billion dollars.
- Gold trades at 1.809 dollars an ounce, up slightly.
- WTI oil at 74,3 dollars a barrel, more or less on yesterday's levels.
LAGARDE: SOFTER GUIDANCE FOR THE ECB SOON
Piazza Affari +0,92% to 25.283 points beats City's price list at +0,10%. The financial markets thus reiterate the Wembley verdict, much appreciated by the partners of the European Union. Outside of the football metaphor, while waiting for the news on US inflation in the next few days, Madame Lagarde is making news: the president of the ECB has announced that in the next session of the directorate, the guidance will be changed: one more point for the doves. Not only. Next year, she adds in an interview with Bloomberg, new measures to support the economic recovery could be introduced, after the extraordinary securities purchase program ends (in March 2022). Meanwhile, the Delta variant, the stone guest in the final of Euro 2020 remains at the center of the scene. In the UK only yesterday 30 thousand positives. In France, the variant represents 40% of new positives, the number of which is on the rise.
ITALY, GDP TRAVELS AT +5,5%
- The Bel Paese was comforted by the analysis by Oxford Economics which raised the estimates of the Italian GDP for this year from +5% to +5,5%. The research company explains: "the high-frequency data on mobility and the improvement in the confidence indexes have prompted us to raise our growth estimates for the second quarter, which we now expect to reach +2%, which will be followed by a third quarter characterized by an even stronger expansion, consequently we have raised the GDP forecasts from +5% to +5,5% this year and to +4,8% for 2022”.
LONDON, THE DAILY MAIL TOWARDS DELISTING
- The other European lists also performed well, driven by Wall Street which, after an uncertain start, is now traveling to new highs: Frankfurt rises by 0,64%, Paris +0,46%, Amsterdam +0,86%, Madrid + 0,39%.
- In London, the Daily Mail and General Trust climbed 3,8% after announcing that its largest shareholder, the Rothermere family, could plan a market exit for the British newspaper, in an $810 million deal, if sales of the insurance risk unit and Cazoo were successful.
ADVERTISING BOOM: JCDECAUX+10%
- French advertising group JCDecaux jumped 10,05% after JPMorgan upgraded the stock to "overweight," citing a sizeable rebound in transit passenger numbers covered by the ads.
ATOS COLLAPSES IN PARIS -18% BETRAYED BY THE CLOUD
- Heavy crash of Atos-17,94%: the IT group has announced that it will not achieve the objectives already announced to the market.
- Supported by the continuous rise in the Treasury, the Italian bond closed the session positively, in a market that has returned to preferring safe haven assets such as bonds amid fears related to the spread of variants of the Covid.
SPREAD AT 104, BCE PURCHASES GROW
- The gap between BTP and Bund rates on the 10-year segment settled at 104 basis points from 106 at the final on Friday.
- The ten-year rate is at 0,74% from 0,75% at the opening and 0,77% at the last closing. Long rates outperform short rates.
- In the last week, the ECB made net purchases under the PEPP program for 22,10 billion (against 15,73 billion a week ago), rising to 1.207,772 billion.
RECORDATI AND AMPLIFON, HEALTH RUNS IN THE BUSINESS PLACE
In great evidence in Piazza Affari the anti-cyclical securities starting from the health sector. Recordati stands out +4,78% in view of the changes at the top following the resignation of Alfredo Altavilla on the flight to Ita. Amplifon is also in great turmoil +2,71% after the definitive agreement for the acquisition of Bay Audio, the primary independent operator in the hearing care retail market in Australia, which operates with a network of over 100 points of sale.
The acquisition is very positive as it represents a key strategic transaction for Amplifon and fits perfectly with the group's growth strategy to further strengthen its position in the core Australian retail market”, commented the Banca Akros analysts. Accumulated ratings and target price of 38 euros confirmed.
BOLAFFI ARRIVES IN CONFINVEST, THE GOLD REGISTER
The landing of Bolaffi, probably the most important name in Italian philately, at Aim deserves a note of relief thanks to the purchase of 17,53% of Confinvest, the market dealer of physical investment gold, the innovative SME that has point the "Lingotto Account" which allows customers to subscribe to coins and bars thanks to the use of an autonomous platform. The operation was managed by Broletto Corporate Advisory.
ACCELERATE UTILITY AND MANAGED, ADVANCE OVERALLS
In the utility sector, Hera+2,37%, Snam+1,84%, Enel+1,8% and Terna +1,68% rose.
Asset management puts in another convincing performance, especially as regards the recovery of Banca Generali +1,8% and the extension of Azimut +1,6%.
Lengthens Generali pace +1,83%. Opposed the bankers: Opposed the banks. Mediobanca did well +1,66% and Intesa Sanpaolo +0,94%. Unicredit -0,3% and Banco Bpm -0,15% lost ground.
MONCLER +1,63%: RUFFINI OPTIMISTIC ON THE MARKET
For luxury, Moncler stands out +1,63%. Regarding the market, Remo Ruffini says he is optimistic: “There is a big boom in China and Korea. Ups and downs in Japan and small realities that are being created. The USA is doing well and I see a discreet Europe, bearing in mind that tourism is still lacking”.
The drops are fractional and limited to Pirelli -0,82%, Saipem -0,5%, Tenaris -0,35%, Unicredit -0,3%, Leonardo -0,21%, Banco Bpm -0,15%.
MONDADORI +6,5% CONQUERS DE AGOSTINI SCHOOL
Outside the main basket Mondadori appreciates +6,55%, with the purchase of 100% of De Agostini Scuola from De Agostini Editore. In a press release, the Segrate-based group explains that the value of the transaction was defined on the basis of an enterprise value of 157,5 million euros, equal to 7,4 times the reported ebitda recorded by De Agostini Scuola in 2020. price will be defined on the basis of the normalized average net financial position of the 12 months preceding the closing date".
AIM, FOPE ON PRE-COVID LEVELS
On the Aim money on Fope +2,16%, in the wake of the goldsmith group's revenue data for the first half of the year, which stood at 14,6 million euros, only -6% compared to the pre-covid values.
