The stock exchanges shrugged off geopolitical tensions and closed in positive territory. It bounces Moscow which rises by 1,5%. The Ftse Eb still leads the rises with a gain of 2,16%, Paris + 1,5% Madrid + 1,59% London + 0,99% Frankfurt +1,27% following the disappointment on the monthly bulletin released yesterday by the Bundesbank which indicated a German GDP in stagnation in the second quarter.
The rebound of the Old Continent's price lists followed the same path as the Asian markets thanks to the moving away from the perspective of a more rigid embargo against Moscow and the decline of theeuro below 1,35 on the dollar. At the end, the euro dollar traded at 1,3470 (-0,4%). The Btp Bund spread closed down at 160 basis points.
I good data coming from the USA they boosted the rebound. Piazza Affari boosted its gains especially after the data relating to existing home sales in June, which grew by 2,6% on the month, slightly better than forecasts. The US Federal Housing Finance Agency's house price index rose 0,4% in May after remaining flat in April. The figure perfectly meets the expectations of analysts. On an annual basis there was an increase in prices of 5,5%, from the previous +5,9%.
As for industry, the Fed Richmond manufacturing index for July rose to 7 points, after reaching 3 points in June. Analysts' expectations were for an index of 5 points. Finally, inflation. The cost of living in the US rose less vigorously in June, reinforcing Fed Governor Janet Yellen's view that May's hikes were temporary. The consumer price index rose 0,3%, after a 0,4% gain the previous month. On an annual basis, inflation grew as expected at +2,1%. A movement that suggests an increase in interest rates by the Fed ahead of expectations and which has strengthened the dollar.
Macro data and oil stocks are supportive Wall Street which today collected some disappointing data on the quarterly front. Sales on Coca Cola, Netflix and McDonald's. The profit of McDonald's in the second quarter it dropped, albeit only by 1%, due to difficulties in attracting new customers, a problem that the company says will not be resolved quickly. Indeed, the forecast is that full-year sales are relatively similar to the disappointing performance seen in the first six months, especially as no major operational changes are expected, as CEO Don Thomspon said.
Despite sales up 3% globally, the American beverage giant Coca-Cola reported profits of $2,6 billion (58 cents a share), down 3% from $2,68 billion (59 cents a share) in the same period of 2013. Excluding exceptional items, profit was rose to 64 cents a share.
At the closure of Europe the Dow Jones saliva of 0,35%, theS & P500 by 0,57% and the Nasdaq by 0,79%. The Petroleum Wti traded at 104,53 (-0,06%). Gold fell 0,59% to $1.307,8 an ounce.
The Swiss banking giant Credit Suisse closed the second quarter of the year with the heaviest loss of the last six years due to the maxi settlement of 2,8 billion dollars with the US tax authorities. It is a loss of 700 million francs, equal to 576 million euros. In the same quarter last year, Credit Suisse posted a profit of 1,05 billion francs.
In Piazza Affari they shine Enel (+4,38%), which benefits from a positive report by JP Morgan which raised the target price from 4,45 to 4,9 euros, and Saipem +4,15%. The market is betting on the sale of shares by its controlling shareholder Eni. Further elements, according to rumors published by Sole24Ore, could emerge on July 31st when Eni's managing director Claudio Descalzi will present, together with the quarterly accounts, an update of the strategic plan.
Recommended A2A (+ 4,02%) and stm (+3,8%), the latter in the wake of the good results released yesterday by Texas Instruments. The banking sector is positive: Unicredit + 0,7% Ubi + 1,62% Understanding + 1,9% Banco Popolare + 2,26% Ps + 0,92% bpm +2,76%. At the bottom of the Ftse Mib Mediaset -0,76% Ferragamo -0,59% Buzzi Unicem -0,08% and Fiat -0,07%.
The historic Milanese venue made its debut today on the Aim Blue Note. During the placement phase, the company raised 1 million euros, the free float at the time of admission is 39,68% with a capitalization of approximately 4,5 million euros. However, the stock dropped 4,8%.
