THEUS inflation send encouraging signals, the China removes restrictions on tourist travel group for a series of countries and in Italy the fear of the tax on the extra profits of the banks has eased: all this news today favors the return of a certain degree of confidence on the markets and the European stock markets center on the second day of recovery , while Wall Street moves in tune within hours of launch.
Luxury travel and banking give Europe a boost
Europe in progress therefore, thanks to the stocks of luxury, travel and banks.
Business Square it closed with a gain of 0,94% to 28.575 basis points, also supported by Telecom (+2,75%) with investors betting on more rapid developments in the single network dossier.
In the rest of Europe it stands out Paris, +1,52%, which sees the big fashion brands on the podium of the blue chips, thanks to further easing of the anti-Covid policy by Beijing.
Archive a brilliant session Madrid +1,58% (with all big caps in green) followed a few pitches by Amsterdam +0,98% and Frankfurt +0,91%. It's more backward London, + 0,45%.
Copenhagen it even moved against the trend, -0,63%, with the pharmaceutical giant Novo Nordisk which dropped 1,22% despite extraordinary earnings growth forecasts thanks to the boom in its anti-obesity drugs. The stock is up about 65% in one year and can snatch the scepter of queen of European equities from Lvmh.
Meanwhile, luxury is also in the spotlight in New York, where Capri Holdings registers a surge of 56,2% after the great rival Tapestry (-12,5%) said it would buy the parent company of Michael Kors in an $8,5 billion deal.
The dollar retreats after macroeconomic data
Il dollar is retreating after the much-awaited data on consumer price trends in the month of July in the United States. Monthly growth was 0,2% and the trend rate was 3,2% after 3% in June, however less than the 3,3% expected by experts. Core inflation rose 4,7% after 4,8% the previous month.
Today, the Unemployment benefits report, with requests that rose by 21 to 248 last week, against expectations of 230.
THEeuro it prevails over the greenback to a relatively robust extent (+0,4%), with an exchange rate over 1,1, also driven by the rather decisive tones of the ECB, in the new economic bulletin.
Among the raw materials, the Petroleum, which reached a seven-month high overnight: Brent -0,6% approximately at 87 dollars a barrel; Wti -1% to 83,56 dollars a barrel.
Volatile seat for the gas, which finally loses share in Amsterdam after yesterday's surge, due to fears about supplies: 36,65 euro Mwh, -7,97%.
Piazza Affari toned up with Moncler, banks and Tim
Piazza Affari also finds support in luxury stocks, after the news from China. In fact, it stands out among the blue chips Moncler with an increase of 3,59%.
Le banks consolidate the rebound after the Black Tuesday following the announcement of the tax on extra profits decided by Palazzo Chigi. The subsequent course correction has since yesterday favored a strong recovery in the sector, but the measure was rejected by Moody's in any case.
On the Ftse Mib they are in the foreground Bpm bank + 2,94% Intesa Sanpaolo + 1,9% Banca Mediolanum + 1,65% Finecobank + 1,26%.
The rally also continues Telecom Italy, with many rumors about the future of the network and press sources claiming that the Treasury and the US fund Kkr are negotiating a memorandum of understanding that would set the terms of a state-backed offer for the fixed network; a preliminary agreement could be signed even before August XNUMXth.
La sitting was favorable to Ferrari +2,05%. Utilities performed well with Enel +1,48%, Terna +1,34%, A2a +1,15%.
I discounts on the price list are fractional starting from Interpump -0,56%, Cnh -0,47%, Pirelli -0,37%, Iveco -0,41%. Generali remains weak -0,35%, in a well bought sector at European level after the results beyond the estimates of Allianz (+3,99%) and Zurich Insurance (+0,17%).
Spreads down
The Italian secondary also closes positively: lo spread between the 163-year BTP and its German counterpart which falls by 2,12 basis points (-XNUMX%). It is stable title rate Italian at +4,13%, the Bund rises +2,5%.
i go down returns even on the primary. The Tesoro this morning it placed the entire new issue (first tranche) of one-year BOTs for 8 billion, maturing on August 14, 2024. The yield is 3,82% with a downward filing (-13 basis points). Demand exceeded 10,5 billion. On August 14th, one-year Bots for 9,7 billion are expiring.
A breath of fresh air for the beautiful country comes from inflation data communicated by Istat: +5,9% in July from 6,4% in June.
