Flat stocks awaiting afternoon data on US unemployment and in the name of caution for the tension over Syria while the G20 meeting in St. Petersburg is drawing to a close. Milan continues around parity supported by Enel +4,57% which benefits from a positive report from Ubs which promotes it to buy, Enel Green Power +1,71% and Campari +1,15%. At the bottom of the Ftse Mib Mediaset -1,61%, Pirelli -1,45%, Autogrill -1,28%. Profit taking on Telecom Italia -1,15% between exchanges sustained in the aftermath of the rally triggered by the TLC risk and by the rumors about the entry of new shareholders. From Cernobbio where the usual Ambrosetti workshop at Villa d'Este is underway, the CEO of Intesa Sanpaolo Enrico Cucchiani commented on the Telecom dossier of which the bank is a shareholder through Telco: "The preference is for the best solution". "We are in an open, international and globalized world, so I believe that the nationality" of a possible new shareholder "is not fundamental", he said.
The other European Stock Exchanges are also uncertain about parity with London losing 0,10%, Frankfurt -0,17%, Paris -0,07%. In Asia, Hong Kong closed with little movement (+0,1%) and Shanghai at +0,83%. The Nikkei finished down 1,45%.
In waiting for the American data in the early afternoon, from which operators will try to understand the direction that the Fed will take at the next meeting on 18 September, the data on German industrial production was published in the morning, which fell by 1,7% in July and is down by 2 % every year. The growth rate of industrial production in June was also revised downwards to +2% from the previous 2,4%. On the trade balance front, in July Germany recorded an unexpected drop in German exports -1,1% and an increase in imports (+0,5%) with the trade balance surplus down to 16,1 billion euros from 17 billion of the previous month.
Lo Btp bund spread travels up to 252 basis points. In red the main banks.
