The price lists of the Old Continent oscillate around parity. TO Milano the Ftse Mib index recorded a slight decline of less than 0,1%, in any case above the 22 thousand mark. A thread above parity Paris e Frankfurt. Madrid + 0,17%. London loses 0,1%. British insurance group Standard Life loses more than 2% after first-half data. Minimal variations in the face of the sharp drop in trade at the time of the holidays.
The drop in yields on the debt market is significant, albeit in the face of reduced trading. The 1,989-year BTP trades at XNUMX%, with a spread of 152,6 basis points over the Bund, unchanged with a yield of 0,45%. In July, the European Central Bank and the Bank of Italy bought securities of the Italian public sector for a total of 9,623 billion euros compared to 9,323 billion in June. French and Spanish bonds were also purchased beyond expectations.
Investors are influenced by weak data on the Germany's international trade: in June, exports fell by 2,8% compared to the previous month and imports fell by 4,5%. The data is clearly lower than economists' expectations and comes the day after other disappointing data from the German economy: yesterday the Berlin government announced that industrial production in June fell by 1,1%, against growth expectations of the 0,2%.
New decline of dollar with theeuro which goes back to 1,180 (last night it closed at 1,179).
Petroleum up slightly: Brent is trading at 52,6 dollars a barrel (+0,4%) after the news of a reduction in Saudi Arabian supply, which offsets the increase in production by other countries including the United States. From the lows of mid-June, oil has rebounded by 18%, breaking a dangerous downward spiral. Saudi state-owned Aramco will cut supplies to customers worldwide by at least 520.000 barrels a day in September, a source familiar with the situation told Reuters.
Eni earn 0,1%. Saipem (+0,3%) reverses the negative trend at the start of the session. Uganda has signed a preliminary contract with a consortium of investors, including Saipem, for the construction of the first crude oil refinery in the African country. Saipem's share could be worth around a billion dollars.
In Piazza Affari slow down Telecom Italy (-0,73%). Vivendi, the leading shareholder with 23,94% of the voting capital, argued yesterday, in a statement requested by Consob, not to meet the company but to limit itself to exercising direction and coordination of the activities. According to Banca Imi experts, "the debate on the exercise of golden power and on the potential spin-off of the network remains open": the broker maintains a buy rating and a target price of 1,08 euro on the stock.
Stocks in the banking sector are down: Unicredit and Intesa, down by 0,7% and 0,2% respectively. Positive Banco Bpm (+0,5%) and Ubi (+0,7%).
In managed savings, it shines General Bank (+1,1%), recovers Anima (+0,8%) after yesterday's drop. Insurance slips: Generali -0,8% Unipol unchanged. Goes down Buzzi (-0,6%), fined by the Antitrust along with other cement producers in Italy, among which Cementir (-1,1%). The industry titles moved little: stm -0,4% Leonardo -0,6% Fiat Chrysler + 0,2%.
70% of companies in the MSCI Europe index released their half-yearly reports and more than 60% met or exceeded analysts' expectations, according to Thomson Reuters data. Same percentage for companies in the euro area.
