The "slap" inflicted by the European Commission on Apple - sentenced to repay Ireland £13 billion in unpaid taxes and considered undue state aid – kept the spotlight on the Cupertino group for the entire day but did not scratch the stock which, on Wall Street, reacted with a modest -0,6%. Nor has the decision by Eurocommissioner for Competition Margrethe Vestager damaged the European lists which closed positive despite the reactions of the CEO Tim Cook, the US Treasury and Ireland itself which threatens appeals.
Indeed, Piazza Affari achieved the greatest increase in Europe thanks to the probable positive surprise coming from the Italian GDP. According to sources from Via XX Settembre in the light of today's data on the turnover of services, GDP in the second quarter of 2016 could in fact record a positive changeinstead of the previously estimated zero growth. The figure will be released by Istat this Friday. Services revenue in the second quarter improved 1% over the first quarter of 2016, and retail sales data, also released today, indicated June gains of 0,2% MoM and 0,8% every year.
Encouraged by macroeconomic data, and pushed above all by banks and insurance companies, the Ftse Mib recorded a positive day, closing up 1,42% driven by banks and insurance companies. The other European Stock Exchanges were also in tune: Paris +0,75%, Frankfurt +1,07% while London recorded a slight decrease of 0,25%.
The Btp-Bund spread widens to 119 basis points and a yield of 1,11%. In today's auction, the rate on 5-year bonds stood at 0,19% (-7bp), updating the all-time low marked in the July auction. The same fate also happened for the ten-year bond: the yield dropped by 9 basis points to 1,14%. The CcTeu are also at lows with a gross yield of 0,32% (-6 basis points on the previous auction).
On the macroeconomic front, the August Conference Board consumer confidence index rose above the estimates to 101,1 points, while the Case-Shiller index on the prices of houses of 5,1 cities for the month of June. The market is waiting for the job data scheduled for Friday. Ahead of a possible Fed tightening, the greenback continues to strengthen. The euro-dollar exchange closed at 20 (-1,1143%).
Oil reversed course and closed down: Brent -1,5% to 48,52 dollars a barrel and Wti -1,09% to 46,47 dollars a barrel. Prices at the start were higher on the suspension of production in the Gulf of Mexico due to an approaching tropical storm and on speculation that the meeting of producing countries in Algeria next month will act to push prices higher
The Unipol galaxy runs in Piazza Affari: Unipolsai +3,82%, Unipol +3,24%. Generals also did well +2,55%. Second best stock is Bper +2,82%. In the spotlight Unicredit +2,20%: the stock is not driven by the sale of assets but by the news that the bank is preparing to sell 20 billion in non-performing loans (non-performing loans) supported by state guarantees. Furthermore, according to press rumors, the creation of the savings pole with the combination of the subsidiary Pioneer with Eurizon (of the Intesa group +2,46) is being studied. Mps +0,71%: yesterday the board examined the possibility of proposing to the holders of subordinated bonds (above all institutional, but perhaps also retail) the conversion of credits into new Mps shares. The rest of the banking sector closes positive: Ubi +1,37%, Bpm +1,35% Banco +1,29%.
FCA +2,48%: in an interview with Bloomberg TV, Sergio Marchionne explains that the company does not aim at simply selling Magneti Marelli to Samsung but at opening a technological alliance with the Koreans for self-driving cars. Telecom Italia reduces earnings but closes positive at +1,98%: Vivendi does not devalue the investment on which it has a theoretical loss of 1,3 billion. The French group has announced that the summons presented by Mediaset to the Court of Milan to obtain the execution of the Premium agreement have not been notified.
Diasorin in evidence +2,9% after signing an agreement with Beckman Coulter Diagnostics to supply in the United States Liaison XL tests for hepatitis A, B and C, as well as HIV testing. Tecnoinvestimenti +2,88% at its debut in the Star segment. At the bottom of the Ftse Mib, only three stocks closed in the negative: Moncler -0,46%, Snam -0,3% and Italcementi -0,09%.
