The data on jobs in the US disappoint and raise questions about the future of the recovery, prompting a red start on Wall Street, but European stocks console themselves with some brilliant half-yearly results and close higher, pushing the Stoxx600 to record levels. In addition, the services sector in the euro area soars in July and in Italy it reaches a 14-year high (the PMI index rises to 58 from 56,7 in June), although the rate in Italy is the lowest in the area. context of reduced trading due to the August holidays, Piazza Affari therefore rose by 0,53% to 25.490 points, thanks to Finecobank +3,29%, Diasorin +2,15%, Stellantis +2,26%.
At the Agnelli house Ferrari raises his head +1,51%, after the losses of the last two sessions following the presentation of numbers and estimates. Among the banks, Banco Bpm +2,29% and Mediobanca +1,12% close a session of earnings, while Unicredit limits progress to 0,28%, on the day in which Minister Daniele Franco presents the MPS operation to Parliament (+1,02%). The institute led by Andrea Orcel should buy the Sienese bank's commercial assets, all of which are still to be defined. The marriage would please financial analysts, but political pressures and the raising of shields by the parties against the stew have recently weighed on the appeal of the two stocks. Intesa closes with an increase of 0,58%, at the end of an ups and downs session, after the presentation of a six-month period to be framed, given that net profit further grew by 17,8% and exceeded 3 billion euros, as part of a full-year target of $4 billion.
With regard to the dividend policy, the bank's board of directors proposed the cash distribution from the extraordinary reserve, based on the 2020 results, for a unit amount of 0,0996 euro, in addition to an interim dividend on 2022 (relating to the year 2021) equal to 0,0721 euro per share. Next year, CEO Carlo Messina said, the minimum profit target is 5 billion euros. In the sector, the haemorrhage on Banca Carige (-6,75%) did not stop, with the value per share down to 0,97 euro. Ideas on Poste, +0,76%, following the growing half-yearly. Buzzi's decline continues -1,56%. In red Azimut -1,22%, Tenaris -1,31%, Saipem -1%. The accounts do not help Atlantia, -1,1%. On the secondary, the spread between ten-year BTPs and Bunds closed with a very slight increase at 110 basis points. The rate of the Italian security drops to +0,56%, but the German security scores -0,54%.
In the rest of Europe, Frankfurt +0,88%, Amsterdam +0,88%, Paris +0,33%, Madrid +0,24%, London +0,2%, Zurich +0,23, 5,73.Commerzbank disappoints on the positive scene (-511% in Frankfurt), due to accounts in deep red. The provisions of 200 million to cover the costs of the redundancies foreseen by the reorganization and the write-downs of XNUMX million, decided after the abandonment of the outsourcing project to HSBC of securities settlement activities, announced in June, scuttled the quarter. The Swiss pharmaceutical company Roche goes up (+0,35%) following news from Bloomberg that SoftBank has acquired a $5 billion stake in the company. Overseas the session on Wall Street is proceeding mixed, with the Dow Jones and the S&P%00 down and the Nasdaq up slightly. In July, 330.000 new jobs were created compared to June, while estimates were almost double. This is the weakest figure since February, most likely a result of labor and raw material shortages.
The result increases concerns about the economic recovery, threatened by the increase in Covid-19 cases in the country, while already thinking about the monthly report of the Labor Department on employment, expected on Friday. Later, a speech by Treasury secretary Janet Yellen is expected: according to advances from CNBC, the former Fed chairman will say that implementing President Joe Biden's program - starting with the infrastructure plan and the spending plan - is essential to enable the United States to maintain its role as the preeminent economic force in the world. In equities, GM moves in the red despite quarterly profit and banks follow weakness in Treasury yields. Takes another leap Robinhood Markets, thanks to interest from emerging asset management star Cathie Wood and investment from day-traders, pushing the stock higher for the fourth consecutive session after a disappointing debut last week. On the foreign exchange market, the euro-dollar exchange rate is around 1,834. Among raw materials, the drop in oil continues and Brent is around 71,30 dollars a barrel, retreating by 1,5%.
