The European stock markets rebound thanks to the mini-recovery of the auto sector and despite the data from China on manufacturing activity. In the middle of the day, Milano salt of 1,18%, London 1,25%, Paris of 0,75%, Frankfurt by 0,72%. However, all indices are slightly slower than the highs of the morning. Volkswagen recover 3%. But the scandal widens.
According to Die Welt, the German government was aware of the manipulation of the emission control systems used by Volkswagen. Today the Transport Minister himself announced the creation of a commission of inquiry into Volkswagen diesel cars.
In Asia the Tokyo Stock Exchange is closed for the Autumn Equinox holiday. Sales in Shanghai (-2,2%) and Shenzhen (-0,8%). The Asian stocks suffer from the data on the PMI manufacturing index that has been revealed at least for six and a half years. The provisional data for the current month fell to 47 from 47,3 recorded in August, below analysts' expectations.
Furthermore, on the macroeconomic front, preliminary data on theGerman PMI manufacturing and services index, both results down. The manufacturing PMI fell this month to 52,5 from 53,3 in August, below analysts' estimates. The services PMI fell to 54,3 from 54,9, below analysts' estimates, and the composite PMI also fell to 54,3 (from 55 in August and against a forecast of 54,6).
The preliminary data on the PMI index of theEurozone which stands at 52 points in September from 52,3 in the previous month.
The judgment of S&P: "The Italian economy is finally emerging from the recession after three and a half years of contraction", said the agency, specifying however that "the economic recovery in Italy will probably remain weak as low income growth and high unemployment continue to limit consumption.
Lo spread Btp/Bund after a slow start at 116 basis points fell to 112 points.
The intervention of is expected in the afternoon at 15 Mario Draghi in the European Parliament and data on the US manufacturing index for September and on weekly oil inventories.
In Piazza Affari, profits are driven by luxury, with Moncler e Luxottica which rise respectively by 3,58% and 1,86%, but also from fca it rose by 1,93%, in line with the rebound of the car in Europe.
Highlights too A2A (+2%) ed Eni (+1,73%) which benefits from new rumors about the possible sale of the retail gas division. Corriere della Sera has aired the hypothesis of a sale "piece by piece to the utilities and former municipal companies in the sector".
In contrast, worst title of the Ftse Mib, bmps (-0,56%), followed by Mediobanca (-0,23%), Buzzi Unicem (-0,19%) And Mediolanum (-0,15%).
