The European Stock Exchanges are advancing on the wave of the good economic trend. In Milan, the Ftse Mib index opens September up by 0,6%, to over 21.800. They do better Paris (+ 0,9%) and Frankfurt (+ 0,7%). Madrid + 0,5% London + 0,2%.
7% leap in Stockholm for the Swedish carmaker Volvo, controlled by the Chinese Geely's, which is starting to record the largest daily gain in over four months, after announcing new financial targets.
In Paris Vivendi gains around 5% after confirming the outlook, thanks to better-than-expected profit growth. Telecom Italia, on the other hand, fell by 0,8% to 0,80 euros. Mediaset subscribed downwards (-0,19%), ever closer to 3 euros.
THEItalian industry it boomed. Manufacturing activity grew in August at the fastest pace in the last six and a half years, making the prospects for the economy brighter in the short term. The PMI index elaborated by Markit/Adaci rose last month to 56,3 from 55,1 in July, further moving away from the threshold of 50 that separates growth prospects from contraction prospects and reaching the highest since February 2011. The figure it is decidedly higher than the expectations of economists who indicated an average of 53,3.
In second quarter of 2017, according to Istat, GDP, adjusted for calendar effects and seasonally adjusted, increased by 0,4% compared to the previous quarter and by 1,5% compared to the second quarter of 2016. Italy has been growing continuously for ten consecutive quarters.
It also accelerates Germany: The manufacturing sector has experienced significant growth, supported by production, new orders and exports. The manufacturing PMI came in at 59,3 last month, the third best performance since April 2011, up from 58,1 in July.
In France manufacturing recorded a six-year high in August with a further increase in orders from abroad despite the strength of the euro. The final PMI index rose to 55,8, the highest level since April 2011. The UK PMI was also better than expected.
Il dollar strengthened again this morning to 1,188 against the euro, from 1,191 at yesterday evening's close. At 14,30 pm the data on the trend of employment in the US in August will be released, a key data for the next decisions of the Fed on interest rates.
The yield of BTP at 10 years it is down this morning to 2,01% from 2,03: the market does not believe in a tightening of the Qe by art of the EU directorate next week. spread with the Bund at 165 basis points (-1 basis point). Petroleum down after yesterday's leap: Brent slid by 0,5%, to 52,5 dollars a barrel. Yesterday it gained 3%. Wti at 46,7 dollars (-1%).
Eni advances 0,6%, Saipem -1,1% correct the price after the boom on the eve (+6%). Bernstein reiterated the negative Underperform recommendation, cutting the target price to €3,0 from €3,12.
Unchanged Tenaris. This morning Bernstein reiterated the Outperform recommendation, reducing the target price to 19 euros from 20 euros. The group's Texas plants did not report substantial damage as a result of the passage of Hurricane Harvey, according to a company statement.
The positive movement continues Fiat Chrysler (+1,9%), accompanied by the other titles of the Agnelli team. Cnh Industrial +0,5%, Exor +0,9%. Widespread gains among other industrial stocks: stm earn 1,1%, Leonardo + 0,3% Brembo +1,8%. Slight progress for banks: Understanding + 0,4% Unicredit + 0,1%.
Waiting to return to the Stock Exchange, Pirelli it closed the first half with revenues up 10,6% to 2,685 billion euro (+8% at constant exchange rates) and returned to profit. The net result was equal to 67,6 million compared to the loss of 6,5 million in the previous year. Pirelli's business plan to 2020 envisages a weighted average annual growth in revenues equal to or greater than 9% in the 2016/20 period, from the 4,976 billion recorded at the end of 2016.
In luxury Moncler (+1.59%) opens the month of September by touching yesterday's historical record with a price of 24,25 euros. Leap of Dada (+3,34% to 4,15 euros): Sawiris is looking for a buyer.
