Le European stock exchanges the minirally continues: for the fifth session in a row the main lists mark an increase, the Eurostoxx 600 index rises by 0,4%, to the highest for 10 weeks. Business Square it increases by around 0,3%, just above 23 points.
The Zew index
The rise also resisted the decline in the German Zew index. The indicator on economic expectations decreased to -55,3 from -53,8 in July. The assessment of the current economic situation drops to -47,6 from -45,8 in July. “Continuing high inflation rates and projected additional costs for heating and energy lead to lower profit expectations for the private consumption sector,” Zew researcher Michael Schroeder said in a statement.
The bonds
The figure weighs on the performance of bonds. At 12 the rate of the ten-year BTP treats just over 3% and lo Bund spread just over 210 basis points. The markets are awaiting the minutes of the Fed's meeting at the end of July and, above all, are already looking forward to the traditional Fed symposium in Jackson Hole at the end of the month.
Delivery Hero flies to Frankfurt
Returning to Frankfurt, the boom of delivery hero (+11,7%) after new estimates on the expansion of the gig economy beyond the Rhine between now and the end of the year (+7%). The rich German chapter closes with the new rise in the price of electricity, which has leapt above 500 euros per kilowatt hour. Pressured by rising costs, the Berlin government yesterday announced an annual gas tax of around 290 euros for all consumers. Gas traded at the Dutch node trades at 230 euros per megawatt/hour, on levels not seen since March.
Piazza Affari: utilities go up
Electric utilities start up in Piazza Affari almost suddenly, returning from a season without particular ideas: Enel +1,8% and A2A +1,9%. Better than they do Leonardo (+2,51%), the most brilliant company in the public sector.
Tim down after Friday's rally
On the contrary, after the fireworks on Friday (+6%), he falls into line Telecom Italy (-1,3%). The leap forward was linked to the idea that Cdp takes control of the entire company and does not limit itself to buying the network, a complicated solution both financially and, above all, in terms of compliance with EU rules. The operation, in fact, risks raising the public debt according to the rules of Brussels.
