A week with a happy end for the European stock markets which closed the last session of a turbulent eighth with an increase. Contributing to this impetus are the signals from China to liven up economic growth and the possibility that, in September, the ECB will implement monetary stimuli that are higher than expected.
Optimism is also infecting Wall Street, progressing after the intonating opening bell, pending the meeting of central bankers, next Wednesday, in Jackson Hole, Wyoming (USA), where Jerome Powell will also speak. After the fear of recession with the slowdown of the German economy and the temporary inversion of the US bond yield curve, the word therefore returns to the central banks.
In Europe, in Frankfurt +1,3%, Deutsche Bank (+4,71%) and Commerzbank (+5,61%9) recovered, reaching historic lows this week. Paris +1,2% did well; Madrid +1,73, 0,8% London +XNUMX% This is a rebound, after the weakness of a mid-August heated by tariffs.
Piazza Affari, closed yesterday for holidays, gained 1,51% and moved away with a sigh of relief from the 20-point ridge touched on Wednesday, rising to 20.322 basis points. Mediaset stands out from the main list, +9,89% (3 euros per share), which exceeds the withdrawal price (2,77 euros) envisaged for shareholders who will not approve the group reorganization in the shareholders' meeting i early September. The stock was the protagonist of a torrent of trading: 6,6 million shares in the middle of the session, equal to 5,6% of the capital.
Banks reassert themselves, thanks to spread tightening following the words of Finland's central banker, Olli Rehn to the Wall Street Journal, according to which Frankfurt's stimulus package next month should be "very strong" and higher than expected .
While the stock rested for August 10th, the yield on the 1,33-year BTP dropped to 1,4% yesterday, to go back up to 209% today. In any case, the differential with the Bund of the same duration falls in today's session to 3,99 basis points (-XNUMX%).
Ubi +5,62% appreciates among bank stocks; UniCredit +3,71%; Banco Bpm +4,04%; Understanding +1,96%; Bper +2,19%; MPs +4,37%.
Purchases reward utilities, with Enel +4,59%; Hera +2,79%; Snam +2,3%; Terna +2,22%. In the top ten: Leonardo +2,91%. Mediaset boom (+9,89%) in view of the merger with its Spanish subsidiary from a European perspective.
Sales are mainly directed towards the automotive and fashion sectors. According to Reuters quoting a trader, the Milanese automotive company is in line with the losses recorded yesterday by the sector in Europe.
Fiat share lost -2,71%; Pirelli -1,07%; Exor -1,21%. Luxury is depressed with Ferragamo -1,89%; Moncler -0,85%.
Mixed oil: Saipem +2,55%, Eni -0,47%, Tenaris +0,51%. Oil is up significantly: Brent +0,94%, 58,78 dollars a barrel; Wti +0,8%, 54,9 dollars a barrel.
The euro is weak against the dollar, with the exchange rate in the 1,1089 area and falls against the pound to 0,9123 (-0,7%). The wave of confidence momentarily tarnishes gold, which drops to 1519,55 dollars an ounce (-0,75%).
