European stock exchanges today center a robust rebound after Monday's plunge and yesterday's fractional recovery. Purchasing is driven by the brilliant season of quarterly, which starts the engines of Wall Street and restores appetite for oil (Brent +3,9%, around 72 dollars a barrel). Well Coca-Cola e Johnson & Johnson after better accounts than expected. In Europe, in the chip sector, the Dutch shines never, which revised its year-end guidance upwards. In pharmaceuticals, Switzerland Novartis exceeded market expectations.
European companies listed on the STOXX 600 are expected to post a 115,2% increase in second-quarter profit compared to a year ago, according to Refinitiv IBES data.
La resurgence of the pandemic at a global level, which had weighed down the lists at the start of the week, remains a cumbersome and obscure presence in the background, but corporate accounts and confidence in central banks, starting with the decisions that the ECB will take tomorrow, have today reawakened the desire to to risk.
Business Square leads the charge (+2,36%, 24.675 points), together with Madrid (+2,54%), thanks to the boost from banks and oil stocks, even if the Ftse MIb is at the top Unipol, +4%, followed by industrial stocks such as Leonardo (+ 2,76%), Pirelli (+ 3,59%), stmicroelectronics (+ 3,97%) and stellantis (+3,43%). The latter rises even as CEO Carlos Tavares said the global shortage of semiconductors, which is forcing automakers to slow production, will in all likelihood drag on into next year. The manager also sees an increase in production costs from several areas.
The spotlights remained on throughout the session Mediobanca (+ 3,29%) and Generali (+2,17%), after yesterday evening, on the Consob website, it came out that Francesco Gaetano Caltagirone tripled his stake in Piazzetta Cuccia bringing it to 2,88% (from 1% at the beginning of March) and still has two options to climb up to 5,0547% between August 20 and September 17. Just in time for the institute's assembly, scheduled for October 28th. The potential package, if combined with that of Leonardo Del Vecchio, who has been the leading force in the Milanese investment bank for a year with 19%, could go within a whisker of the 25% that can only be beaten by launching the takeover bid.
They stand out among the banks Unicredit (+ 3,06%) and Ps (+4,89%), while press sources write that the economy ministry continues to see the best solution for Siena in the bank led by Orcel. Reuters, quoting sources close to the dossier, claims that the ministry is studying solutions to meet the conditions set by Unicredit for a possible acquisition. No blue chip is falling.
Out of the main basket he raises his head Maire Tecnimont, +4,7% after six sessions, down.
In the rest of Europe Frankfurt earn 1,37%, London + 1,74% Paris + 1,85% Amsterdam + 1,62% Zurich + 0,67%.
On the currency market, after a bullish morning, the dollar is slightly losing ground. The euro it is in slight progress on the greenback and changes very close to 1,18. Weakness for the Pound.
Il bitcoin it goes back up and is approaching $32.
Among raw materials, it rationally loses ground their, which fell by 0,45% to 1802,4 dollars an ounce.
Well the Petroleum, although inventories in the US rose last week and have recovered to a small extent the declines seen over the past eight weeks. American crude appreciates by almost 4,4%, above 70 dollars a barrel.
They take a breath instead i government bonds. In the US, prices fall and yields rise, with the 1,29-year Treasury raising the rate to XNUMX%.
Today the Stars and Stripes Treasury is auctioning off 24 billion 20-year bonds and President Joe Biden goes to Cincinnati in Ohio to present his infrastructure plan, insisting on the advantages for workers in terms of rights and increases of the pay. Meanwhile, the director of the International Monetary Fund Kristalina Georgieva, speaking at the Peterson Institute, pushes to accelerate the global vaccination campaign to restore a lasting recovery.
On the diplomatic front, the Biden administration is expected to announce tomorrow the agreement with Germany on the completion of the controversial Russian gas pipeline Nord Stream 2, which will bring Russian gas to Europe, bypassing the Ukrainian route.
The Italian secondary also closes in the green, where the yield of Btp 10 years drops to +0,69% e the spread with the Bund it narrows to 113 basis points (-1,57%).
Looking forward to hearing the words of the number one of the ECB tomorrow, Christine Lagarde, the governor of Bank of Italy Ignazio Visco notes that “the good performance of the vaccination campaign is contributing to the economic recovery even if uncertainty remains high. In this context, the financial sector can actively contribute to the revitalization of our economy”.
