European stock exchanges uncertain a few days after the ECB meeting. In the middle of the session the index finger FtseMib gains 0,05%, around 21.500. They retreat Paris e Madrid (-0,2%), Frankfurt -0,4%. Downhill Madrid (+0,7%). London also stands out with +0,25%.
The data on the positively surprised GDP of China. In the second quarter, growth was 6,9% year on year, against the +6,8% estimated by the consensus. But the Chinese Stock Exchanges, prior to the announcement, had plummeted in the face of the unexpected injection of liquidity by the Central Bank. Chinese President Xi Jinping said on Saturday that the central bank must be placed in a position to defend China's financial system from the shocks of excessive debt. The government has ordered the country's biggest banks to curb lending to conglomerate Dalian Wanda.
After the announcement on the GDP, the situation has normalized. The Morgan Stanley Asia Pacific index reached new highs since 2015. Hong Kong and Seoul did well.
Prices of the mining sector (+1,3%): Anglo American, Glencore and Antofagasta are in progress after the price of copper reached a three-and-a-half-month high.
Slowdown confirmedinflation in Europe for the month of June, even if the growth in prices strengthens net of the more volatile components. According to the final data for last month released by Eurostat, inflation in the 19 euro countries rose to 1,3% yoy, in line with the flash estimate and analysts' expectations, but below 1,4 % in May and 1,9% in April. The core index, which excludes the more volatile components of prices, ie fresh food and energy, shows growth of 1,2% on a year-on-year basis, up from 1,0% in May. The figure is in line with the flash estimate, but economists' forecast was for a downward revision to 1,1%.
Il dollar it strengthens against the main currencies, euro-dollar cross 1,1441 with a drop of -0,25%. Bond market without shocks. 0,59-year Bund +2,26%, BTP XNUMX%.
Il Petroleum Brent crude changed hands at $49,2 a barrel, up 0,45%, for the sixth gain in a row. Bloomberg reports that in the first week of July there was a sharp drop in short positions on North Sea futures, it was the sharpest drop in the last 7 weeks.
Eni +0,1%. Morgan Stanley reiterated the Underweight recommendation, lowering the target to 11,90 euros from 13,40 euros. Saipem + 1,3% Tenaris + 1,4%.
At Piazza Affari the spotlights are on Telecom Italy (+1,25%). A new request for clarification has arrived from Consob on any changes at the top. Meanwhile, the tension with the government is easing, the Minister of Economic Development Carlo Calenda says in an interview with Il Sole 24Ore that he will soon meet Flavio Cattaneo. Calenda himself hopes for the creation of a single telephone network company.
The banks moved little. Unicredit (+0,3%) signed definitive sale agreements with Pimco and Fortress on the basis of which the securitization vehicles will be able to purchase the portfolio of 17,7 billion euro in Npl.
Creval -1%. Moody's has assigned ratings to the securities issued by the vehicle Elrond Npl 2017 as part of the bad debt securitization plan.
Understanding + 0,1% Ubi + 0,9% B for Bank + 0,04% Carige +0,5%. Moody's raised its long-term deposit rating to B3 from Caa1 and its counterparty risk rating to B3 from Caa1, while it confirmed its issuer ratings at Caa2. The Bank is also evaluating the sale of the Npl management platform, according to two sources close to the dossier, as part of the announced sale of 1,2 billion bad loans.
Among the industrial companies the case of stands out Prysmian (+1,8%). General Cable, an American cable maker, has announced that it is interested in the sale and Prysmian, which has firepower of at least one billion, could be a possible buyer. The CEO Valerio Battista has recently spoken above all of medium-sized acquisitions, in companies operating in high value-added niches in the cable market. stm + 1,9%.
In the automotive sector it shines this morning Renault with a gain of 1,7% reaching 84,84 euros. The automotive group recorded record sales in the first half with a growth of 10,4%, a rate equal to four times that recorded by the market (+2,6%). Renault has sold 1,88 million vehicles, helped by the successful launch of an SUV in China and by strong demand in Europe for the Dacia brand. Sales rose in all areas, especially in Asia-Pacific (+50,5%) and in Iran, where they even doubled. Boom of electric vehicles in Europe + 34%, a sector in which the group boasts a market share that has risen to 26,8%.
At Piazza Affari Ferrari -0,1%. Fiat Chrysler (+0,6%) announced the recall of 1,33 million vehicles worldwide, in two different operations launched due to anomalies that could cause fires and the accidental deployment of the airbag.
Enel -0,6%. Out of the main list, Ivy -0,5%. The Anac contested the direct awarding of waste and the prolongation of the extension regime. Fincantieri +1,4%, to the new all-time high of 1,09 euros. On Friday Mediobanca raised its recommendation on Fincantieri from underperform to neutral, raising the target price to 1,13 euro from 0,32 euro.
