Yesterday evening Ben Bernanke's Fed confirmed its current strategy of buying bonds worth 85 billion dollars a month, postponing indications on a possible start of tapering, today Mario Draghi's ECB reassured about "low long-term" rates, specifying that the current interest rate does not represent the minimum threshold. These reassurances, accompanied by better-than-expected economic data, pushed Wall Street to new records and European squares to close with a sharp rise: Milan +2,04%, Paris +1,13%, Frankfurt +1,6%, London +0,9%, Madrid +1,27%. The Btp-Bund spread closes at 274 points.
In Italy, the Italian manufacturing Purchasing Managers' Index (Pmi) returned to signal growth in the sector for the first time in two years, at 50,4 in July from 49,1 in June and against estimates of 49,7. The prediction was for 49,7. On the other hand, France and Spain disappoint. In Madrid, however, the auto sector is recovering with sales up by 14,8% in July, the best figure since 2010 thanks, according to operators, to the third incentive plan, which came into force last week.
US weekly jobless claims fell to a five-year low, to 326.000 from 345.000 the week before (revised), the lowest level since January 2008. US manufacturing PMI it rose to its highest level since April 2011, to 55,4 points in July, from 50,9 points in the previous month, marking a result well above the expectations of analysts who had expected an increase to 52 points. However, construction spending in the United States dropped significantly with -0,6%, worse than the expectations of analysts who expected an increase of 0,3%.
In China, the industrial production index rose slightly in July in China, according to data released today by the Beijing government. The Purchasing Manager Index (Pmi) for July was 50,3% versus 50,1% in June. Which for some economists indicates a stabilization of the economy. WTI oil jumps by 2,52% to 107,68 dollars a barrel, the euro-dollar exchange rate drops by 0,65% to 1,3216 while the confirmation of the expansive policy supports gold at 1.314 dollars an ounce (+0,09 .XNUMX%).
On Wall Street, the Nasdaq updated new records and rose by 0,82% to 3.115 points, the Dow Jones rose by 0,8% to 15.623 points and the S&P reached its all-time intraday highs of over 1.700 points. Prysmian flies to Piazza Affari (+7%) which released its half-year accounts and indicated an improvement in the second half, confirming year-end Ebitda. Also in evidence are the banks with Bper up by 5,35%, Banco Popolare +4,18%, Ubi +3,07%, Unicredit +3,42%, Bpm +3,08%. In red Mps -0,58%. Fonsai also shines, +5,09%. Fiat industrial +4,32%, Fiat +2,34%. Chrysler sales closed the best July in the last 7 years. Eni +3,25% after half-yearly results in line with analysts' expectations.
Mediaset confirms the increase to +2,5% pending the Cassation, even if with rather scarce exchanges. At the bottom of the Ftse Mib Finmeccanica which slips in the aftermath of the half-yearly and yields 1,93%. Also down is Generali (-0,68%) which this morning released the accounts that have archived profits over one billion. Salvatore Ferragamo -0,39%, Gtech -0,14%.
