It doesn't stop there negative streak of European stock exchanges under pressure from the rise in market yields ahead of the ECB meeting. The futures of US stock markets, which do not promise anything good (-0,57% in the contract on the S&P 500) and the news coming from China also weigh: the city of Chengdu, which has about 21 million residents, has ended up in quarantine . The lockdown affects i oil prices: Brent down to 93 dollars (-2%).
Government bond yields soar
The index eurostoxx 50 falls 1,2% to a seven-week low, in line with Milano -1% at 13pm and with Dax German. In the meantime, the prospect of a rise in European rates by three quarters of a point is consolidating on the markets: secondary yields go into orbit while the euro maintains parity with the dollar.
Il yield of the ten-year BTP December 2032, placed yesterday at auction at a gross rate of 3,76%, reached a session high of 4,01%. It moves like that too spread around 235 points (after a maximum of 241) from 241. But speculation affects all Eurozone issues, not just Italian bonds.
The best news comes from the real economy. The Italian GDP in the second quarter it grew by 1,1% compared to the previous quarter (+4,7% in 12 months). Unemployment fell to 7,9%.
EU: measures to reduce the price of gas are being studied
The European Commission is considering a series of measures capable of alleviating the energy crisis. Mechthild Woerdoerfer, the area manager who deals with this issue, said today during a hearing that various measures are being studied, such as a reduction in demand, a cap on the price of gas and taxes on companies benefiting from the high prices.
In Piazza Affari only 3 stocks on the rise
Only three Italian blue chips up out of forty FTSEMIB members. Among these stands out Tim +1,2%. The first shareholder Vivendi reported in a letter to the board and to the regulators, a possible conflict of interest for Cassa Depositi e Prestiti in the negotiation concerning the birth of a single primary level Italian telephony operator, that of the infrastructural network used from telecommunications service providers to households and businesses. Disagreement between the two partners could lead at some point one of the two to increase the share to make their voice heard more in the crucial decision on the network. Positive too Recordati and Diasorin, which both mark +0,2%
Luxury still under pressure also following the new lockdowns announced in China. Moncler it leaves 1,5% on the ground, despite HSBC having raised the target price to 62 euros from 53. Ferragamo loses 1,8%
It also goes down Buzzi -2,78% lagging behind the index on the fund sell-off following the announcement that the stock will enter the blue-chip basket effective September 19 as part of its semi-annual review.
Banks also sold: Bper-1,2%, the letter up does not stop Ps -1,1%). The profit warning on Nvidia on Wall Street weighs on Stm -0,46%. Industrialists sold: Interpump and Leonardo down 3%.
