The stock markets belie the concerns raised by the trade war and the numerous international hotspots. After the leap forward this morning in the Chinese markets, it is now the turn of the European lists, which are growing strongly. Business Square advances by 0,66%. Rise similar to Paris (+0,7%), the most effervescent market is Frankfurt, up by an abundant 1,3%. Good rises also a London (+ 0,9%) and Madrid (+ 0,6%).
The rally coincides with some comforting macro data. The German economy is buoyant despite the trade war. The Purchasing Managers Index (Pmi) jumped to 57,3 from 55,9. July's preliminary Eurozone composite PMI fell to 54,3 points, below the consensus of economists but surprisingly accelerated growth in manufacturing, while the services sector slowed more than expected. For Williamson, Chief Business Economist of IHS Markit, GDP growth in the third quarter could slow further to 0,4% quarter on quarter.
The euro moves away from the lows of the session against the dollar: the single currency changes hands at 1,169 dollars. The greenback remains supported by the belief that the Federal Reserve will continue to increase the cost of money this year, despite the concerns expressed by the White House.
Lo BTP/Bund spread it rises to 231 basis points with the yield on the Italian 2,69-year bond at XNUMX%, seven points higher.
Oil on the rise: Brent +0,2% to $73,20, wtf +0,5%. In Milan Eni loses 0,26%
The Agnelli stable bounces back in Piazza Affari. Fiat Chrysler it rose by 2% to 16,49 euros, on last Friday's closing levels. The loss of yesterday morning, which had pushed the quotation to a minimum of 15,55 euros, was thus fully recovered. Ferrari + 0,75% Exor +1,72%. It also bounces Brembo (+ 1,24%).
Purchases in the Automotive sector are favored by the results of A dog which in Paris shows off with a gain of 11%.
The automotive group closed a half-year above expectations with a strong expansion of margins and integrating the newly acquired Opel-Vauxhall ahead of the industrial plan.
Rising sharply stm (+4,5%) on the eve of the accounts: the rally is supported by the results of ams.
The finance sector did well: the basket of Italian banks rose by 2,4%. They advance Understanding (+2%) and Unicredit (+3,3%). According to SocGen, the institute could enter the Eurostoxx 50 index in September.
Takes flight Valtellinese credit (+ 12%). Credit Agricole will acquire 5% of the capital and will sign a bancassurance agreement on the life sector with the Lombard institute.
Carige is positive: the Genoa prosecutor's office has opened an investigation into market manipulation.
In the rest of the list to report: Amplifon +7,1% after announcing the acquisition of the Gaes group for 528 million euros. Gaes is the largest private specialist operator in the hearing care retail sector in the world, with a leading position in Spain, the tenth largest market in the world.
Digital Magics +0,9%. Hyperloop Transportation Technologies, a 100% subsidiary of Jumpstarter (a startup in which Digital Magics has invested 320 thousand euros), has signed an important partnership in China relating to the construction of the first Hyperloop.
Coima Res -0,9% took over the Valtellina area, a strategic portion of the Scalo Farini, from the Olimpia Investment Fund in Milan adjacent to Porta Nuova, which is part of the urban redevelopment program of the seven railway stations promoted by the Municipality of Milan and by Ferrovie dello Stato Italiane SpA.
