STOP FOR STOCK EXCHANGES: MILAN -0,28%
TELECOM. ARE SAVED. PIRELLI, STM AND THE BANKS
Business Square closes in negative ground, having lost more than 100 ounts in the last hour. This morning the drop was conditioned by the missile alarm. The "objects" detected by Russian radars were Israeli missiles launched for an exercise, as Tel Aviv's own armed forces have revealed.
The slowdown in the finale is instead linked to technical reasons.
The index Ftse Eb it closes at -028% at 16941, after having missed the 17 thousand mark.
The scissor between ten-year Btp/Bund it contracted by 6 basis points to 239 for a yield of 4,31%.
The Iberian bonds are also well bought given that the differential between the two government bonds is around only 14 basis points in favor of Italy.
Frankfurt -0,69%, Paris – 0,65%. London closed at -0,61%. Madrid rises by 0,4%.
Wall Street reopens, after Labor Day, with a convincing rise: Dow Jones +0,16%, S&P500 +0,53%, NASDAQ +0,77%.
It misses though Microsoft -5,3% after announcing the acquisition of Nokia's mobile phone division.
In Milan it slows down in the final StM +1,12, long the best blue chip removed this morning from the list of stocks to avoid by Bank of America and Ubs. The Italian-French joint venture has Nokia customers, up 41% due to the sale of the mobile phone division to Microsoft.
The two macroeconomic data of the afternoon are better than expected. The Ism index of the manufacturing segment rose in August to 55,7 from 55 in July, expected at 54,0. Construction spending rose by 0,6% in July, the change was zero in June.
Macro-level uncertainty, pending the Beige Book of tomorrow, comes from India. The rupee is near historic lows against the dollar after Standar & Poor's confirmed its BBB- rating, the one that precedes the junk level, and warned that there is a good chance of a cut. The Mumbai Stock Exchange lost 3,4%, the first decline after four consecutive days of gains.
Returning to Piazza Affari, Telecom Italia continues to rise + 1,91% while the Stoxx telephony index lost 0,4% and Vodafone 3,5% following the sale of the minority stake in Verizon Wireless. On Wall Street, Verizon drops by 2,81%.
Pirelli stands out with an increase of 2,63% on the basis of the results of Michelin +1%.
In the automotive sector Fiat salt of 0,6%.
The luxury still rises: Tod's +0,65%, Yoox +0,71%, Ferragamo +0,31%, Safilo +3,11%.
Finally, among the banks, Ubi Banca rises + 1,64%: Equita changed the judgment to “buy”. Unicredit rises by 0,55%. Intesa Sanpaolo. +0,20%. Monte Paschi and Banco Popolare unchanged.
