With an atmosphere of anticipation for Janet Yellen's intervention at the end of the week, European markets are moving in tune, boosted by the publication of thecomposite PMI index which measures manufacturing and services activity in the Eurozone and which rose in August thanks to services for the second consecutive month (to 53,3). The PMI manufacturing index instead fell to 51,8 from 52 in July to a three-month low.
The chief economist at data-processing firm Markit said that “August's flash PMI indicates that the growth rate of the Eurozone in the third quarter remains constant, with no signs of derailment due to the uncertainties about Brexit”.
The Ftse Mib stands out from everyone and marks an increase of 1,8%, even better among the European lists, supported by the banks. Furthermore, yesterday the will to Angela Merkel to support Matteo Renzi, who has launched "courageous reforms" that will allow Italy to have "a sustainable future". For now, however, the praise has not translated into a green light for another one flexibility, given that "there is already a lot of it in the stability pact".
The main European markets also rose: Paris + 0,74% Frankfurt +0,88% and London +0,59%. This morning Tokyo it closed down 0,6% after the data on Japanese industrial production which grew in July but remained below 50 points, therefore still in an area of stagnation. Even among the other Asian exchanges, caution prevails: Shanghai + 0,15% Shenzhen + 0,27% Hong Kong on equality.
Lo spread Btp-Bund widens again to 122 basis points and 1,15% yield. Oil continues its descent down 0,9% with the WTI falling to 46,95 dollars a barrel. The euro-dollar exchange rate is stable above 1,13.
In Piazza Affari it shines Unicredit, +5,3% in the wake of the indiscretion on the sale of the share held in the Polish Pekao Bank. The move would also benefit Fineco, which rises among the best stocks of the Ftse MIb with a +5%, since the possible sale of Pekao would reduce the chances of a cut in the stake by the parent company Unicredit.
Among other bank stocks, Mediobanca + 3,57% Intesa Sanpaolo +3,30% and Ubi + 3,24%.
Highlights too Mediaset (+2,9%), which opens to Vivendi on the reorganization of Premium, but only after the execution of the binding contract signed in the spring. Traders expect the square to be found.
Out of the main basket, Diasorin celebrates (+3%) thanks to the contract obtained in the United States for tests on the Zika virus worth 2,6 million dollars from the Biomedical Advanced Research and Development Authority of the US Department of Health.
