The European stock exchanges accelerate in the final and close a session at the highs for the day which it found in the afternoon, after the good start of Wall Street, the best intonation.
Business Square closes with a gain of 2,49% at 21.696% basis points and are on the same wavelength Frankfurt +2,69% and Madrid +2%. More backward Paris + 1,79% Amsterdam +1,23% and London + 1,09%.
Is Nord Stream 1 reopening?
The news from Reuters (based on anonymous sources) that the Russia will reopen the gas taps Thursday, restarting the Nord Stream 1 after maintenance work. Europe could breathe a big sigh of relief, given that there was a widespread belief that the pipeline that carries over a third of Moscow's supplies to the EU, it would never leave again.
However, the sources told the agency that the pipeline will resume operations on schedule, but at a lower capacity than the capacity of about 160 million cubic meters (mcm) per day.
In any case, this is good news, given the weight that a drastic cut could have on growth, as the International Monetary Fund: “A prolonged total cut would cause shortages in Central and Eastern European countries which could experience GDP losses of up to 6%. Even in Italy the impact would be significant even if there is greater potential to secure alternative supplies. The effects in Austria and Germany would be less severe but still significant”.
Wall Street rebounds, but Apple remains in the red
Overseas Wall Street moves up with all the indices, after yesterday's losses due to the rekindling of fears of a recession, always latent in this phase and due to the news that Apple Lossless Audio CODEC (ALAC), (-1,5%) would like to slow down hiring plans and investments, due to a worsening economic situation. Today's quarterly results and a slower-than-expected slowdown in the construction sector in June offer New York stocks a chance to rebound.
Boeing also flies, which in recent days has signed various contracts for the sale of its aircraft and runs Goldman Sachs which yesterday released stronger-than-expected quarterly results.
Euro recovering and spread falling waiting for Draghi and the ECB
The euro is appreciated against the dollar by more than a percentage point to 1,024 in the wake of optimism for a Draghi bis tomorrow and for the possibility that the ECB will raise rates on Thursday by 50 basis points and not by 25 points as previously thought.
In addition, purchases of government bonds in the euro area are up and the Italian secondary closes in green.
Lo spread with the German 208-year bond it falls to 1,68 basis points (-3,3%) with yields rising respectively to +3,27% for the BTP (from +1,22% yesterday) and +1,16% for the Bund ( from +XNUMX%).
Investors are therefore staying tuned to the Italian political crisis and the Eurotower monetary policy meeting.
On the first issue, the Fitch rating agency underlines that, if Mario Draghi will leave Palazzo Chigi, Italy's structural reforms and fiscal consolidation will be more difficult.
On the ECB front, press rumors say that central bankers will discuss whether to raise rates by 25 basis points or even 50, in order to contain record inflation confirmed today by Eurostat.
Sources with direct knowledge of the matter told Reuters about the anti-spread shield, saying policymakers are trying to reach an agreement to provide help to indebted countries like Italy on the bond market “if they stick to the European Commission's rules on reforms and fiscal discipline.
Among these, the objectives set by the Commission to obtain funding from the Recovery and Resilience Fund (Pnrr) of the European Union and the Stability and Growth Pact, when it will be reinstated next year after the pause due to the pandemic".
Meanwhile, Eurostat confirms the record level reached in June by inflation in the euro area and in the EU: +8,6% and +9,6% respectively. The lowest annual rates were recorded at Malta (6,1%), France (6,5%) and Finland (8,1%). The highest in Estonia (22%), Lithuania (20,5%) and Latvia (19,2%).
Piazza Affari shines with the banks in the rally
The rally of the banks pushes today's considerable recovery of Piazza Affari. Among the best titles of the day there is Unicredit +6,3%, with the consensus of analysts who, in view of the quarterly, "see" an operating profit of 1,5 billion euros in the April-June period on revenues of 4,5 billion euros.
They make full purchases of the shares of Bper + 6,79% Understanding + 5,89% Bpm bank + 5,15% Finecobank + 5,19%.
The industry stands out thanks to Iveco + 5,14% stellantis + 3,84% Interpump + 4,07%. Leonardo it appreciates by 3,97%, also due to the benefits of a maxi order from Lockheed Martin with the US Defense for the F-35 and due to the expectation of new announcements of contracts from the Farnborough International Airshow.
Luxury soars with Moncler + 4,11%.
Il Ftse Eb it's basically a green expanse today and only Diasorin sees red, but drops by just 0,19%.
Out of the main basket Wells Milan makes a bang (+100%) on the day of the debut.
