The great heat also curbs the bull's enthusiasm which drags itself with difficulty towards the mid-day mark waiting for the data on US consumption and the quarterly reports of Wall Street to reawaken attention. The quarterly Morgan Stanley and Bank of America, recently published, turned out to be better than expected. Meanwhile, Piazza Affari floats around parity: +0.07% over 28.600 points, in any case with an annual increase of more than 20% which bodes well for the next accounting season.
Health-related companies are on the rise. in Zurich, Novartis earn 5%. The Swiss pharmaceutical giant has raised its forecasts and announced a $15 billion buyback plan. Recordati +0,1% in Milan.
Breaking Wall Street News: Bofa and Morgan Stanley Quarterly
Bank of America has published the quarterly report better than analysts' expectations, in detail in the second quarter of the year the institute made an increasing net profit by 19% to $7,4 billion, or $0,88 per share. That compares to $6,2 billion and $0,73 in the second quarter of 2022. Net revenues increased 11% to $25,2 billion. Net interest margin was up $1,7 billion, or 14%, to $14,2 billion. For chairman and chief executive officer Brian Moynihan it is one of the strongest quarters in the bank's history. The manager also highlighted that we see "a healthy US economy that is growing at a slower pace, with a resilient job market. All markets performed well and we see an increase in market shares, particularly in the Sales and Trading and Investment Banking businesses». In pre-market the shares are up 1%.
Also Morgan Stanley it posted better numbers than analysts expected, although earnings per share fell to $1,24 from $1,39 in the same period last year. But the consensus was around 1,2 dollars. So much so that the shares, in the pre-market. they register a up close to 2%.
Il Nasdaq futures it is unchanged.
In Europe, watch out for Microsoft and the Antitrust. Spreads down
According to the Financial Times, the European Commission could launch an antitrust investigation next week for abuse of a dominant position against Microsoft for forcing automatic installation of the app teams (video conferencing) for Office customers.
He goes down it spreads at 163 points: BTP at 4,03%, - 10 basis points. Bunds at 2,40%.
Inflation also down in the EU for Visco. Euro up against the dollar
Euro in slight appreciation at 1,124. The US dollar index, which measures the greenback against a basket of six currencies, fell to 99,822, coming in near Friday's lows of 99,574, its lowest level since April 2022. Last week the index recorded its worst week of 2023, after data showed theUS inflation it eased further, with consumer prices posting the lowest annual increase in more than two years.
Also for Ignazio Visco inflation will fall to 2% sooner than expected.
In Piazza Affari it bounces Nexi +1,8% after yesterday's dips. Well Mediolanum +1,4% on the wave of the collection. Eni slows down +0,5% after the HSBC cut.
In the meantime, oil is rising: WTI oil at 74,5 dollars a barrel, +0,5%. Brent at $79. Both contracts lost more than 1,5% yesterday following lackluster data on the Chinese economy and the partial restart of some Libyan oil fields. Market participants await today's industrial data, which is expected to show inventories of US crude oil and products declined last week.
