Covid -19 has made another victim. Japanese Prime Minister Suga, the target of criticism for the weak response to infections, has announced that he will not stand in the next elections. And the Stock Exchange has taken it well: the Nikkei gains 1,8%, the provisional closing for the week is +5,2%. Even most of the other lists, in truth, show the plus sign awaiting today's US jobs data, perhaps decisive for the start of the tapering. Meanwhile, the US markets, with impressive monotony, continue to set new records, this time favored by the rebound of oil prices. On the other hand, there is never a shortage of news from China. President Xi has announced the forthcoming opening of a stock exchange in Beijing dedicated to small and medium-sized enterprises.
ALIBABA PAYS 15 BILLION TO PROGRAMS FOR THE POOR
The big names, on the other hand, continue to do penance: Alibaba (-3%) has decided to allocate 100 billion yuan (15,5 billion dollars, equal to two thirds of profits) to initiatives linked to a series of wealth rebalancing programs presented and supported by President Xi Jinping:
In Asia Pacific, the stock markets of Taipei (+1% for the session and +1,6% for the week), Seoul (+0,7% and +2,1%) and Mumbai (+0,2% % and 3,7%).
The Chinese price lists are an exception. Hong Kong's Hang Seng index lost 0,5% (+2% per week). The CSI 300 index of Shanghai and Shenzen is down by 0,2% (+0,7% for the week).
BEIJING'S ECONOMY AT THE LOWEST SINCE THE COVID OUTBREAK
There are other signs of a slowdown in the Dragon economy. The Caixin services index fell to 46,7 points in August, from 54,9 in July. Last month's value is the lowest since April 2020, i.e. since the most dramatic moment of the first wave of the pandemic.
Wall Street futures are positive on the day of the release of the jobs data. Yesterday the S&P closed up by 0,3%: it is the 54th record of 2021. A record high also for the Nasdaq (+0,1%). Dow Jones +0,4%.
WTI oil moved little this morning, at 69,8 dollars a barrel, up 2% yesterday. Yesterday the euro-dollar reached its fifth consecutive day of gains, at 1,187, while this morning it was little moved. 1,30-year Treasury Notes at XNUMX%.
DRAGONS: GROWING ECONOMY, THE DIFFICULT COMES NOW
“The economy continues to grow”, but we shouldn't be complacent, “because our GDP has fallen as it hasn't been seen for decades. It's a rebound, whoever fell the most bounces the most." Thus the premier the premier Mario Draghi, taking stock of government action, wanted to curb the enthusiasm for the recovery numbers. "The real challenge - he said - will be being able to maintain the growth rate considerably higher than it was before the pandemic: that's where you can see the ability of the Italian economy to become structurally more solid". The objective will probably have to deal with the revision of the Pepp purchase program which will be discussed next week at the ECB directorate meeting.
BLOOMBERG: THE PREMIER PREPARES A 20 BILLION FINANCIAL BILL
But there are also tensions within the government to deal with on the eve of the electoral passage. Draghi, according to Bloomberg, to prevent the picture from deteriorating to the point of breaking, asked the Mef to develop a budget which, beyond the EU contribution, provides for an increase in spending of 20 billion euros, resources to be allocated also to basic income and early retirement.
MILAN +0,66%, PARIS SHINES (+1,18%)
Piazza Affari rises by 0,66%, to 26.181 points, after closing a June-August quarter up by around 5%.
In the rest of Europe, Frankfurt, Madrid and Paris are practically flat; good London (+0,22%) and Amsterdam (+0,42%).
RECORD OFFER FOR ORPHANE BIOVITRUM (+24,5%)
Recover the travel sector together with pharma. Swedish Orphane Biovitrum flies (+24,5%) after the offer of two US venture capitals for 8 billion dollars. It reaches a new record in Paris Essilor Luxottica (+0,81%).
TIGHTENS THE SPREAD TO 105 POINTS AWAITING US DATA
While awaiting today's data on US employed people, the fever in the EU bond market is decreasing, albeit amid thin exchanges. The spread drops to 105 points. The French and Spanish medium and long-term offers were well absorbed in the morning: 10,4 billion Oats spread across benchmarks and 4,15 billion Bonos on 2027, 2031 and 2033 maturities.
STELLANTIS SUPERSTAR SHOPPING IN THE USA
In great evidence on the markets the performance of Stellantis (+1,77%) after the purchase of the American First Investors Finance Service for 285 million dollars, which will serve to sell more Jeeps and other 4×4s on the American market, the most profitable of the group. The forthcoming entry of the stock into the Eurostoxx 50 index also favors the rise.
Cnh Industrial is also growing in the Exor galaxy (+1,22%). The German Economy Ministry has announced that Opel will receive a 437 million euro government grant for the battery production plant in Kaiserslautern.
DIASORIN: 6 RAISES IN A ROW, EXCEEDS 200 EUROS
Diasorin is also shining (+1,26%): the shareholders' meeting will be held on 4 October for the convertibility of the equity-linked bond loan called "€500,000,000 Zero Coupon Equity Linked Bonds due 2028" and the capital increase company at the service of the bond. The stock, up for six sessions, has crossed the 200 euro barrier for the first time.
Pharmanutria was also rewarded in the sector (+4,7%), on its all-time high at 71,6 euros.
ENI, BIG SHOT IN THE IVORY COAST
Oil prices are holding, following the OPEC+ decision of a gradual return of supplies to the market. Eni leaps by about 1%, also supported by the discovery in the offshore of the Ivory Coast. "We believe - writes Equita - that the news has significant implications for the stock, as the company could divest a portion of the field, monetizing the value of the discovery in advance as it has already done in Egypt and Mozambique and holding a majority stake". Flat Saipem.
Among industrialists, Leonardo slows down (-0,37%), still above 7 euros.
Tim dropped about 1,6%, slipping to its lowest since the beginning of August in the wake of the decline in BT Group. Mediaset also loses hits (-2,5%).
ORCEL: “FORWARD ON MPS, DON'T WATCH THE GOSSIPS”
Among the banks, eyes are still on Unicredit (+0,45%) and Mps (-0,66%). “The due diligence process continues as established by the Memorandum of Understanding. I urge you to fly above the gossip you hear or read, and I assure you that I will continue to update you whenever we have new and concrete information to share,” Unicredit CEO Andrea Orcel said in a letter to employees.
EL.EN, GIGLIO AND WEBUILD RUN
In the rest of the list, El.En rose (+8,71%): Banca Akros raised the target price from 12,5 to 18 euro, confirming the buy rating. In evidence after the six-monthly accounts Immsi (+15,9%) and Aquafil (+3,5%).
Giglio Group is still running (+7,4%) on the wave of the commercial agreement with the Polish Edrone in e-commerce.
Money on Webuild (+2,72%). Lane, the group's American company, was awarded the 236 million dollar (200 million euro) contract for the expansion of a section of the I-40 motorway in North Carolina. Fos (+4,76%) stands out on Aim after the company announced that it had received a biomedical project from the Liguria Region.
