Business Square is starting to close the week in style thanks to the boost of luxury, galvanized by the excellent performance of Richemont which overshadows, for now, fears of a slowdown in the global economy and the impasse in the negotiations on the US debt ceiling. April inflation data from France and Spain held no surprises.
Contrary to revival of luxury on Chinese markets: they are advancing by a good 1 percent Moncler, Ferragamo e Tod’s. Even the Big Parisians lengthen the pace lvmh e Kering both +1,7%.
On the other hand, the quarterly SocGen contributed to boosting the banking sector: they are going up Bper +2,4% ed Intesa Sanpaolo +1,7%. Managed stocks are on positive ground, from Fineco a Banca Mediolanum.
Of note is the exploit of Recordati at the top of the index thanks to the boom in sales and the favorable guidance for the second half of the year: the Turkish market was above all driving the turnover.
The yield on government bonds showed little change: the 4,13-year BTP traded at 4,12% from 7% at yesterday's end, marking a weekly drop of about XNUMX basis points. The spread with Germany it is worth 188 cents from 189. The wait is now for Fitch's verdict tonight with the markets closed and for Moody's in seven days.
Instead, among the smaller capitalization stocks it collapses Dovalue, at historic lows, discounting disappointing accounts, with the net result going negative.
The futures of Wall Street anticipate an increase of 0,4%. Nothing new with regard to the negotiations on raising the debt ceiling. Today's highly anticipated meeting between President Joe Biden and congressional leaders has been postponed until next week.
