Mixed markets in Europe, at the end of a colorless session that didn't come alive even with the positive start of Wall Street and the rebound of the Nasdaq in the first hours of trading. If on the one hand the hope of a vaccine quickly instills some optimism, on the other hand the growing number of infections worldwide, the return of the lockdown in Israel and the WHO warning that autumn will bring new patients and new deaths in the Old Continent, curbs the propensity to take risks. As Frankfurtand is just below parity as London, while Paris earns 0,35% and Madrid the 0,17.
Business Square it loses 0,14%, stopping at 19.793 basis points. Purchases reward Stm, +3,74%, in a sector reinvigorated by the news that Nvidia (+6,5% on Nasdaq) will acquire chip designer Arm by the Japanese SoftBank for 40 billion dollars, one of the most important deals of recent times in the semiconductor market.
Asset management is good: General Bank + 3,32% Azimuth + 1,32% Banca Mediolanum +1%. Sales penalize Cnh -2,4% and Telecom -1,79%. Energy suffers: Italgas -1,75%; Eni -1,62%; Saipem -1,54%. Among the banks the most penalized is Bpm bank -1,52%. Out of the main basket it deflates a bit Tiscali, -14,05%, after the excellent performance following the agreement with Tim.
Positive closure instead on the secondary: lo spread between the Italian and German 144-year bond it drops to 0,96 basis points and the BTP yield is XNUMX%.
At the start of the week, the focus was more on the sale of Borsa Italiana than on the stocks in the Milanese list, for which they were presented at the London Stock Exchange Group (-0,78% in London), offered by the Swiss stock exchange operator Six, by the French Euronext, in partnership with CDP Equity and Intesa Sanpaolo (-0,3%), and by the German Deutsche Borsa. The financial terms of the three offers have not yet been officially disclosed, but according to press sources, the proposals would value Borsa Italiana in a range between 3,5 and 4 billion euros and Six's would be the highest.
On the currency market the dollar remains weak on the eve of the two-day meeting of the FOMC, the operating arm of the Federal Reserve. Experts are especially awaiting the press conference of number one, Jerome Powell, after the turning point made at the end of August, when the central banker announced that monetary policy will not change even if inflation temporarily exceeds the 2% target. L'euro it moves around 1,187.
Among the raw materials the Petroleum is in the red and Brent is trading below $40 a barrel. For OPEC, global oil demand will experience a greater decline in 2020 than previously expected due to the coronavirus and will recover much more slowly than expected in 2021. According to the cartel, it will be even more difficult for the group and allied countries to supply market support
We therefore take refuge ingold, which appears to match spot gold at $1959,33 an ounce.
On the macroeconomic side, theOECD today he speaks of an unprecedented fall in the GDP of the G20 countries in the second quarter of the year: -6,9%, after -3,5% in the first quarter. Nothing comparable to 2009 (-1,6% in the first quarter). Among the world's largest, only China closed the second quarter of 2020 with growth (+11,5%, after -10% in the first quarter). For the others, the decline is 11,8%. The most affected country is India (-25,2%), followed by the United Kingdom (-20,4%). France (-13,8%), Italy (-12,8%) and Germany (-9,7%) are also bad.
In addition, industrial production in the Eurozone did not stop in July: +4,1% after +9,5% in June. However, on an annual basis, the fall to 7,7% from 12% in June was attenuated.
