The official start of the trade war between the US and China it doesn't scare European lists too much which, after a few ups and downs, consolidate or round off yesterday's gains. A positive push comes in the afternoon from Wall Street, which is currently up sharply. Thanks, in part, to the June job report: 213 thousand new jobs, against 195 thousand expected, even if unemployment rises slightly and hourly wages fall to 0,2% from 0,3% in May.
Business Square +0,05%, 21.925 points. Better Frankfurt +0,26%; Paris +0,18%; Madrid +0,39%; London +0,22%; Zurich +0,29%. Car stocks are slowing down after the eve of the spurt on expectations of a rethinking by Trump on tariffs in the sector, which then did not take place.
They get off in Milan Pirelli -2,19% and FCA-1,15%. Still declining Ferragamo, -1,3%. Among the worst Mediobanca -1,58% and General Bank -1,52%.
On the podium Unipolsai +2,92%; Campari +2,86%; Bper +1,97%; Recordati +1,9%; Unipol + 1,88%. Atlantia, +0,56%, with the green light from the EU Antitrust for the acquisition of Abertis together with Acs.
Out of the main list remains in great dust la Juventus, +7,13%, with land Cristiano Ronaldo fever that raises the title and the black and white club forced by Consob to write on the website that "during the transfer campaign, the club evaluates various market opportunities and will provide adequate information in accordance with the law if they are perfected". Of note is the rocket start of Esautomotion (+30%), from this morning on the Aim. On the Star instead Mondadori it appreciates by 8,21%, in the aftermath of the good indications expressed by CEO Ernesto Mauri for the second quarter above all thanks to the boost from books. Akros' decision to raise the recommendation to "buy" with a target price of 1,75 euros also affects the increase in the share.
Without major variations it spread Btp/Bund, 243.10 points, on the day in which Istat certifies an economic slowdown in Italy and S&P cuts 2018 estimates of Italian GDP to 1,3% (from 1,5% previous) and maintains 1,2% for 2019. For the rating agency "domestic politics is the main risk" and above all weighs "the uncertainty about the government's willingness to continue with the consolidation fiscal". Meanwhile, Target2 debt reaches a new all-time high.
Germany, on the other hand, confirms its first class position and expects to bring its debt to 17% of GDP in 58 for the first time in 2019 years, below the 60% limit set by the Maastricht agreements.
THEeuro it goes back to 1,174 on the dollar. The greenback tends to decline against the major currencies, following the publication of the Fed's minutes yesterday and with expectations of two more increases in 2018. The tariffs between the US and China cast a shadow over the future, accentuated by Trump's threats to widen tariffs up to 550 billion of imports of Chinese products. Meanwhile, a dodgy contagion is starting, with Russia introducing customs duties on American products in response to tariffs on steel and aluminum.
Il Petroleum today it is two-sided: Brent -0,32%, 77,15 dollars a barrel; Wti +1,05%, 71,37 dollars a barrel. Gold fell to 1254,29 dollars an ounce (-0,24%).
