Piazza Affari turns positive in the final after a volatile session and in negative territory. The Ftse Mib closed practically flat at +0,07%. London +0,08% is also in positive territory, while the other European markets remain slightly below parity, which in any case reduce the drop towards the end: Paris -0,43% and Frankfurt -0,03% after Fitch confirmed the triple A at the Germany and the stable outlook. Madrid -0,84%. The government is studying an advance request for aid on the 100 billion plan for Spanish banks. In particular, the funds would be used for Bankia (which flies on the Stock Exchange) and for other nationalized banks. However, the European Commission said it "cannot confirm" that it has received any request from Spain to activate an emergency intervention in the framework of the aid plan envisaged for the banks.
Profit-taking after the rises of the past few days weighs on Europe and the macro data which indicate: a drop in German production and exports; June industrial production in Spain fell 6,3% yoy, in line with forecasts, it is the tenth consecutive month of contraction; France on the verge of recession and in Italy a GDP of -2,5% in June. Then there is the cut in Greece's outlook by Standard & Poor's and the accounts below expectations by the bank Ing.
From London, the Bank of England cuts its 2012 GDP estimates and speaks of enormous uncertainty about the eurozone. According to Nomura analysts, the United Kingdom is even considering the possibility of leaving the European Union. The euro slides against the dollar to 1,2362 (-0,30%). The Btp-buns spread closed with little variation at 446 basis points and a yield of 5,88%. The Bono-bund spread instead rises to 545 basis points from 537 at the opening.
In the US, hope has been rekindled for a new quantitative easing after the Fed chairman of Boston, Eric Rosengren, said that the US central bank should launch a bond purchase program to boost the country's growth. But in an interview with Bloomberg TV, Dallas Fed governor Richard Fisher said that a rate cut would be considered "a political move" at this time. “That would not solve the problems” for Fisher: “The Fed deserves trust. He did a good job. The Fed "remains alert and extremely vigilant" to inflation.
On Wall Street, the Dow Jones rose by 0,23% at the close of the European markets and the Nasdaq by 0,11% where some conflicting macro data has been released. TO Business Square the price list is driven by Tod’s +10,28% after the half-yearly accounts, Telecom Italy + 2,64 %Popular Bank + 2,16 % Diasorin +1,68% and Buzzi Unicem +1,59%. At the bottom of the list Mediaset -3,31% Prysmian -2,19% Lottomatica -1,66% Ubi bank -1,54% Enel Green Power -1,43%. Positive Intesa Sanpaolo + 0,81% Unicredit +1,02% on expectations that in 2012 the group will be able to distribute the dividend e Ps + 0,44%.
