After some initial uncertainty, the European stock exchanges they take courage and by mid-morning they are all positive. Milano earns 0,4%, as Paris It is better than Madrid (+ 0,2%), Frankfurt e London (both +0,1%). Btp-Bund Spread down slightly to 226 basis points.
Piazza Affari: today's best and worst stocks
As far as individual stocks are concerned, Piazza Affari is leading the rises Tim (+3,4%), which rises from the lows. They follow Finecobank (+ 1,58%), Campari (+ 1,51%) and Unipol (+1,49%). Asset management is also doing well Amplifon (+1,3%; Barclays has started hedging with overweight and a target price of 31 euros). The banks are more uncertain, now in any case positive, supported by the prospects of rate increases.
Instead, among the worst titles are Prysmian (-1,27%), Pirelli (-1,25%), Eni (-0,95%) And Generali (-0,39% after SocGen reduced the target price).
MPS case
Out of Ftse Eb, there is extreme volatility on the stock Ps, which now loses 2,7% after being suspended at the start due to an excess of upside (+5,7%). The markets are speculating in view of the shareholders' meeting on Thursday 15 September called to approve the maxi capital increase of 2,5 billion which will increase the shareholding weight of Anima Holding and Axa.
US inflation: waiting for the data
On the macro front, there is great anticipation for today US inflation data. The market believes the price run has peaked, but is waiting for the official numbers to figure out what they will be the Fed's moves, whose meeting is scheduled for next week.
Data coming from Europe
Meanwhile, theinflation in Germany it recorded +0,3% in August, a slowdown compared to the previous month, but with a trend figure still growing (+7,9%). L'Zew index worsens to -61,9 in September from -55,3 in August.
In Britain positive signals from the labor market, with the unemployment rate dropping to +3,6% in May-July, never so low since 1974.
The euro strengthens
On the currency side, he continues the rise of the euro, with the dollar retreating in view of an easing of pressure on prices in the US and the single currency settling at 1,104 after a top at 1,0156. The single currency is supported by two other factors, Unicredit analysts point out: “The hawkish statements of some members of the ECB on a possible aggressive tightening of monetary policy and the latest developments in the conflict in Ukraine, which have falling natural gas prices, thus reducing the appeal of the greenback as a safe-haven currency”. Euro/yen at (144,27), dollar/yen (142,40).
Commodities: Gas in decline
As for raw materials, the natural gas Ttf of Amsterdam (-1,7%, at 187 euros per MWh), while the Wti oil October rises to 88,19 dollars (+0,47%) and the Brent November at 94,35 dollars (+0,37%).
