The positive streak is interrupted in Europe, where the lists close today in the red, in line with the out of tune start of Wall Street.
Milano it loses 1,04% and sees 23 thousand (exceeded in the morning) move away, stopping at 22.757 basis points. The bondholder also suffers: lo spread between the ten-year Italian and German terms, it grew to 222 basis points, (+2,43%) and the rates rose respectively to +3,3% and +1,08%.
In the rest of Europe the worst square is Frankfurt, -2,04%, forced to digest the nightmarish half-year report of the energy giant Uniper (-11,4%), already subject to a state bailout plan. In the six months, the net loss was 12,3 billion euros due to deliveries of Russian gas, a consequence of the war in Ukraine. To recover a profit, you will have to wait for 2024. All while the pressure on the gas prices which, at the Mwh, are still over 220 euros, after the top reached yesterday.
I'm down Paris -0,97% Amsterdam -0,69% Madrid -0,91%.
London it limits the damage to 0,76%, after the return of double-digit inflation, to find which we have to go back 40 years, when Margaret Thatcher was in government.
Inflation anxiety returns to the markets
Thus the fear of inflation is reawakened on the markets, kept at bay in recent days by the slowdown of Petroleum (Brent is volatile today, +0,25%, 92,6 dollars a barrel).
The July Leap of the consumer prices in Great Britain (+10,1% over June) is an anxious premise for the publication of the minutes of the last Fed meeting, from which investors will try to draw indications for the future.
While waiting for the index of the dollar rises slightly (the euro trades on yesterday's levels around 1,0166), as we face July retail sales data, unchanged last month in the face of consumer spending that seems to be holding up and which could allay fears of recession.
In the Eurozone, the macro data for the second quarter disappoint a bit: pil e occupation in any case, they grew by 0,6% and 0,3% respectively compared to the first three months of the year. However, the fear of the future remains, especially in the event that there is a total blockade of Russian gas supplies.
Cyclopean semi-annual loss of the Norwegian sovereign wealth fund, the largest in the world
Other news also contributes to fueling the uncertainty, including the gigantic loss of the largest sovereign wealth fund, the Norwegian one. In six months, the fund practically erased last year's earnings (approximately 1200 trillion dollars, for a negative result of 14,5%). "The market was characterized by rising interest rates, high inflation and war in Europe - explained Nicolai Tangen, managing director of the fund - Investments in shares are down by up to 17 percent".
Tensions in the Pacific and the war in Ukraine now remain in the background, while Chinese soldiers are in Russia for a military exercise which, according to Beijing's defense minister, has nothing to do with the "international and regional" situation.
Musk buys Manchester United, actually he's joking
Luckily to make the situation appear serious, but not serious, it provides Elon Musk, with yet another Tweet that makes the stock markets jump. First he says that he buys Manchester United (+ 4,6%), then he denies, responding to a follower who asks him if the announcement is serious. "No, it's a long-standing joke on Twitter - writes the entrepreneur, already engaged in a lawsuit with the social network - I don't buy sports teams".
Campari toasts in Milan
Campari, +1,58%, stands out on the main index of Piazza Affari, where most of the blue chips are in the red. Almost all the stocks in the food&beverage sector toast, following the good six-monthly performance of the Danish Carlsberg (+3,85%), a major beer producer.
The results are ahead of the analyst consensus, notwithstanding Carlsberg posted a net half-year loss of SEK5,276 billion versus SEK3 billion in gains a year ago on troubles in Russia and Ukraine. For the whole of 2022, the Danish group estimates organic growth in operating profit of around 8-9% (high single digit) and raises the forecasts of last spring.
The increases of the other Milanese big caps are more modest: Eni + 0,99% Italgas + 0,8% Terna + 0,59%.
Banks changed sign during the session. Unicredit, +0,04%, escaped sales, perhaps boosted by a Jefferies report on southern European banks which put the institute and Bper (-0,76%), among the preferred stocks thanks, respectively, to the policy of distribution to shareholders and to the effects of the increase in interest rates.
Red is on for stm, -4,27%, Saipem -4% Pirelli -3,27% Iveco -3,02%.
