Thanks to the vicissitudes of Donald Trump and the Fed's minutes, the dollar remains in decline against the yen and not far from the low for two and a half years against the euro traded at 1,1734. The strength of the single currency helps to slow down the stock exchanges of the old continent after yesterday's rally.
In Milan, the Ftse Mib index fell by 0,20% around 21.900 points in line with Paris and Frankfurt. More marked losses in Madrid -0,6%. Outside the euro area London -0,3%. Great Britain. According to a note from the London government, it is confident that it will be able to make "sufficient progress" by October in the Brexit negotiations in order to move on to the next phase of discussion of future relations with the European Union.
Zurich -0,7%. Swiss toilet systems maker Geberit dropped 5,6% after second-quarter results below expectations. No surprises on the European inflation front. Eurostat communicated that in July consumer prices in the Eurozone recorded a decrease of 0,5% on a monthly basis and an increase of 1,3% on an annual basis, the same level as in June. Data in line with economists' forecasts and with flash estimates at the end of July.
The minutes of the last Fed meeting show that US central bank leaders want to buy time before making strong decisions on interest rates and fiscal easing. The securities of European banks are also affected. Standard Chartered, Deutsche Bank and Crédit Suisse lost between 1,8% and 1,2%. In Milano Understanding unchanged, Unicredit drops by 0,6%.
Banco Bpm rises prudently +0,24%: this morning Barclays analysts raised the target price of the stock to 4,15 euros from the previous 3,3, confirming the Overweight opinion. Conversely, the Stoxx index of European utilities gained 0,5%.
Enel rises by 0,5%. Enel Green Power expects to put into operation up to 3 Gigawatts of power per year, 0,5 Gigawatts more than foreseen in the business plan. Antonello Cammisecra, CEO of Enel Green Power indicated the new goal in an interview with Sole24Ore. In the aftermath of the all-time high, Atlantia is up 0,1%. Telecom Italia -0,53%, Mediaset advances +1,41%. Energy slowdown: Eni -0,5%, even if oil is stable at around 50 dollars.
The exception is Saipem +0,9%. The company has been awarded a new contract in the Exploration & Construction segment worth approximately $850 million. Fiat Chrysler slows down the race -0,37% to 10,86 euros. China's Dongfeng Motor "has no plans at the moment" to acquire Fiat Chrysler or any part of it. This was stated by a spokesman for the automotive group, one of the subjects mentioned in recent days by Automotive News, who wrote about an offer on FCA by a "well-known" Chinese company. Ferrari loses 0,2%. Exor?-0,4%.
In Luxury,?Tod's?+1,6%, Moncler +0,9%. Mediaset is up 1%. In luxury, Tod's +1,6%, Moncler +0,9%
