In anticipation of next week's Fed meeting, profit-taking is triggered on European stock markets which close the session in negative territory, also weighed down by Shanghai's return to red and by an uncertain opening on Wall Street. The Ftse Mib dropped 1,02% with the Btp bund spread slightly up to 117 basis points and a yield of 1,86%. Today the Treasury has assigned annual BOTs with yields slightly increasing to 0,028% against expectations of falling rates. Demand was good, amounting to 11,27 billion euros against the 7,5 billion offered and fully assigned. The supply-demand ratio stood at 1,50.
The other European markets are also in red: Paris -1,46%, Frankfurt -0,9%, London -1,18%. Today the Bank of England kept interest rates unchanged at 0,5% with 8 votes to 1. We note the negative performance of the San Paolo Stock Exchange after the downgrade by Standard & Poor's on the sovereign debt of the South American country. During the night, the American agency cut the rating on Brazilian sovereign debt to "BB+" bringing it to the "speculative grade" area for the first time since 2008.
From the USA came data on oil stocks which grew more than estimates: +2,57 million barrels, to 457,998 million. However, WTI oil rose by 3,44% to 45,67 dollars a barrel supported by the fact that the subcommittee on Energy and Commerce of the US House approved the lifting of restrictions in force for 40 years on exports of the raw material. Conversely, wholesale inventories in the United States fell by 0,1% in July, more than analysts' expectations, as did import prices in August in the United States, which fell by 1,8% compared to previous month.
On Wall Street the indices regained strength and at the end of trading in Europe the Dow Jones rose by 0,6% and the S&P500 by 0,42%. The euro-dollar exchange rate rose by 0,54% to 1,1267.
In Piazza Affari the worst of the Ftse Mib are Tenaris -4,02%, Moncler -3,21%, Bmps -3,20%, Cnh Industrial -2,3% and Mediolanum -2,02%. In contrast, they close among the best in the main basket: Prysmian +1,28%, Campari +1,22%, Mediobanca +0,17%, Pirelli +0,13% and Tod's +0,13%.
