Positive morning for European stock markets with attention still focused on banks and awaiting the important data on US jobs scheduled for tomorrow, on the basis of which the markets will try to interpret the future orientations of US monetary policy. The Ftse Eb continues with a good rise of 1,15%, driven by financial and banks, the best price list among the main European markets. Paris +0,95%, Frankfurt +0,56%, London +0,02%.
On the macro data front, the day started with the Japanese and Chinese PMI indices. China's manufacturing PMI, measured by the independent Caixin, fell to 50 in August from 50,6 in July. The Chinese government, on the other hand, through the statistics office announces that the official manufacturing PMI index rebounded in August to 50,4 from 49,9 in July, the highest figure since October 2014. Both data (both the official one and the private Caixin) are in any case above 50, which marks the border between expansion and contraction. In Japan, the manufacturing PMI climbed back to 49,5 in August, the best figure since last February. On the other hand, corporate profits suffer, down more than 10% compared to a year ago, Capex (+3,1%) is lower than expected. Tokyo closes a mixed session with a +0,02%.
The PMI data was released in the morning also for the Eurozone. The Eurozone manufacturing index came in at 51,7 in August versus the consensus of 51,8. In Germany, the index stood at 53,6, in line with the consensus but at its lowest for three months. In France at 48,3, below the consensus and the flash estimate of 48,5 and at a two-month low. Despite the slowdown, the PMI index has been growing for 38 consecutive months. In Italy, however, the index was at its lowest for 20 months.
In the afternoon various data are expected from the USA: data on new requests for unemployment benefits, the revised productivity data for the second quarter, the manufacturing PMI for August and the manufacturing ISM, also for the month of August, construction spending for the month of July. During the day, car sales in the USA will also be released and, after the markets are closed, the data on car registrations for August will be released in Italy. Brent loses 0,47%. Operators are awaiting the OPEC meeting on 27-28 September.
In Piazza Affari the best title is Azimut +4,22%, followed by Unicredit +3,46% which continues its positive trend. The increases are justified by the advances on the sales plan the CEO Jean Pierre Mustier is set to launch within the month. In addition to the sale of Bank Pekao and the disposal of Pioneer (although the listing is not excluded), the group could sell its stake in FinecoBank and a stake in Mediobanca, cashing in 8 billion euro. Another 8 would come from the capital increase.
Among the negative notes, the news that Piazza Cordusio, together with Generali and the French Carrefour, is starting to leave the Eurostoxx19 index starting 50 September. Also in evidence are Bper +3,19%, Mediaset +2,75% and Ubi Banca +2,4%. Brilliant Mediaset +3,10%: the market is trying to bet on the involvement of some new operators in theMediaset-Vivendi deal on Premium. According to press rumors, a new partner could enter the Premium game.
Outside the Ftse Mib eyes up Rcs +1,49%: the decision of the Lazio Regional Administrative Court on the request, made by the defeated consortium, to block the deed with which Consob decided not to suspend the winning takeover bid by Cairo Communication should be announced this afternoon (+3,2, 26%). The losing consortium will present a minority list in view of the meeting on XNUMX September for the renewal of the board.
Sales among the blue chips hit four stocks: Prysmian -1,08%, Tenaris -0,32%, Yoox -0,11% and Telecom Italia -0,31% while thead Flavio Cattaneo presents, in his first press conference, the new services, products and offers of the group. Yoox -0,11%.
