The Bull is back on track even before discovering the cards on the table. Three, in particular: Italian political stability (with the vote in Parliament), the ECB interest rate decision (expected for Thursday) e the resumption of the supply of Russian gas. After the days of uncertainty on the three fronts, optimism has spread.
On the subject of energy, the agency wrote in a correspondence from Moscow Reuters it gives for sure that Gazprom will resume supplies to Europe via North Stream. The flow will be far from the maximum, but in line with what was disbursed until 11 July. Brussels, however, will today announce plans to avoid a power outage in the winter.
Optimism also for the ECB: discounted the increase of 25 points, don't mind being discussed about a stronger rise, a signal in support of the euro which, according to Davide Serra of Algebris, "at this rate risks the end of the old lira".
Finally Italy: Madame Lagarde hopes that tomorrow the ECB will be able to address the issue of the anti-spread shield without having to reckon with a devastating political crisis. At 9, simultaneously with the opening of Piazza Affari, Mario Draghi will speak in the Senate. And we will see if the play of the Bull has blown up the bank.
European stocks should open higher: index futures EuroStoxx50 +0,4%. In the wake of yesterday's record finale: Piazza Affari +2,49%.
Lo spread restarts from 208 basis points (-2,54%) with yields rising respectively to +3,3% for the BTP and +1,22% for the Bund.
The rating agencies are preaching caution: even if Draghi remains prime minister, writes Moody's, "the implementation of policies will be more difficult, especially those to unblock the third installment of the Pnrr".
European events, for once, steal the headlines from other markets, which are no less euphoric. Wall Street had its brightest session since June 24: Dow Jones + 2,4% S & P 500 + 2,8% Nasdaq + 3%.
“We've lost a million customers, but we thought we'd lose two. I know, it seems absurd to celebrate. But now we can get off to a great start." Thus Reed Hastings, number one of the streaming platform Netflix. And the Stock Exchange gives him credit: +7,4% after the Stock Exchange. An injection of confidence (Netflix has lost more than 60% since January) that comforts the optimists, who, given the quarterly accounts, do not believe in an imminent recession.
Who does not celebrate is Elon Musk. The Delaware judge granted the request Twitter to proceed with the expedited procedure with the claim for damages after the Tesla boss withdrew his offer on social media.
The future of Nasdaq earn 0,5% this morning.
THEeuro/dollar it rises for the fourth consecutive day, +0,2%, to 1,024. The growth of the US currency is hitting the profits of the multinationals most linked to exports like a boomerang: yesterday was the turn of Johnson & Johnson (-1,54%). IBM falls by 5,3%.
Optimism has infected Asian stock markets. The Tokyo Nikkei earn about 2%. Similar variation for theHang Seng Tech, the index where the best of Chinese high tech is found. The CSI 300 of the price lists Shanghai and Shenzhen it is up 0,3% after the confirmation of the current key interest rate by the Central Bank of China.
For the first time in ten years, the amount of T bonds held by Beijing has fallen below a trillion dollars. Meanwhile, the protest of the middle class continues: for now there are 301 real estate units in 91 cities in which the tenants refuse to pay the mortgage since the works are not finished.
Il Kospi of Seoul is up 0,7%. Sydney's S&P ASX 200 +1,5%. The governor of the Reserve Bank of Australia, Philip Lowe anticipated tonight the arrival of another crackdown on the cost of money: rates should reach at least around 2,5%: today they are at 1,35%.
Titles in evidence: Eni and Leonardo. Hunchbacked hit by Juventus
Eni. The Milan Court of Appeal has taken note of the decision of the Attorney General's Office, at the start of the second instance trial on the alleged Eni and Shell bribes in Nigeria, to abandon the appeal against the Court's ruling which had acquitted the two companies and all the defendants, including the CEO Claudio Descalzi.
In view of the board scheduled for August 4, Atlantia will convene the remuneration and human capital nomination committee in the next few days to analyze a possible agreement for the consensual termination of the employment relationship with the CEO, Carlo Bertazzo.
Leonardo and BAE Systems announce the Italy-UK industrial collaboration for the Future Combat Air System program for the demonstrator aircraft, as part of a cooperation process started between the two countries in the defense sector.
La Juventus has reached an agreement with Bayern Munich for the permanent sale of Matthijs De Ligt for 67 million euros. Part of the proceeds was transferred to Turin in exchange for Bremer, blown by the wire at Inter.
Alchemy acquired 100% of Innocv, a leading Spanish company in digital transformation, for an equity value of 5 million euros.
Hesirdius record at the ESG of Pozzi Milano *100%. There are 12 freshmen on the "light" market who made their debut in 2022. The list includes 182 companies.
