Cautious markets awaiting the key appointment of the week scheduled for 14 pm: the trend of US employment, which, in the event of a slowdown, could push the Fed to cut rates as early as October. Business Square it drops around 0,1%, just below 21.300 points. In the second quarter, the GDP increased by 0,1% both compared to the previous quarter and compared to the second quarter of 2018. The change acquired for 2019 is equal to +0,1%.
Same trend a Paris, weaker Frankfurt (-0,2%). European Union to take countermeasures in response to new US tariffs on European goods, said German Foreign Minister Heiko Maas
Below parity too Madrid (-0,2%). Slightly up London (+ 0,06%).
Despite the lower propensity for risk, the appreciation of the bond market continues: the trend involves, together with the 0,59-year bund which fell to -XNUMX% also the BTP which trades at a yield of 0,79% (-2 basis points), close to historical lows. In Germany, banks have begun to apply negative rates to both private and corporate current accounts following the cut in the cost of borrowing last September by the European Central Bank.
Il Petroleum is starting to end a week on the downside with a modest increase: Wti at 52,5 dollars a barrel (+0,2%). Eni +0,6%. Little move Saipem, which has been awarded three new contracts awarded by BP for the development of the Azeri-Chirag-Gunashli oil and gas field offshore Azerbaijan. Value: $145 million.
Utilities are up, down at the start of the session. Enel +1,1%. Check out too Iren (+ 1,5%), Ivy (+ 1,34%) and A2A (+1%) on rumors of a progressive liberalization of the electricity market.
Salini Impregilo (-0,6%) believes that Progetto Italia can come to life by Christmas, the date by which the new strategic plan will also be ready. This was explained by the managing director Pietro Salini on the sidelines of the shareholders' meeting which gave the green light to the 600 million capital increase relating to Progetto Italia, the operation which should lead to the acquisition of Astaldi and the creation of a sample national construction company participated by Cdp.
The banks are holding back while awaiting news from the US job data. Below Unicredit (-1%). Understanding down (-0,5%). In light Monte Paschi (+2%): Italy is discussing with Brussels the possibility of freeing up two thirds of the institution's non-performing loans. For Equita "the operation would significantly facilitate the exit strategy of the Treasury from MPS which would become a much more attractive target". Pause in the big maneuvers up Mediobanca (-0,25%).
In great evidence stm (+2,34%) under the impetus of Apple which plans to increase the production of the iPhone 11. The Franco-Italian joint venture supplies equipment for this type of smartphone.
Automotive companies, the most exposed to trade tensions for exports, are descending into Europe, such as fca (-1,3%) and Pirelli (-3,4).
Down too Telecom (-1,85%), which widens the declines against the flat European telecommunications sector.
To report Recordati (-0,8%) after Credit Suisse's downgrade to 'underperform'; according to the bank, the stock is at a premium of 22% in terms of 2020 p/e compared to its competitors.
The crisis of the Without Newspapers which accelerates downwards by 5%, reaching a new historical low of 0,59 euros. The stock landed on the AIM segment last April at 0,72 euro per share, the loss nearly -20%. The market capitalization falls below 15 million euros.
