A few hours after Jerome Powell's speech in Jackson Hole (Wyoming) the markets smell the air of falling rates. BTPs are no exception: lo spread it drops to 195 points for a yield fixed at 1,30% against the Bund at -0,63% (+2 basis points). Market expectations are high, two full cuts between now and the end of 2019 and another two in 2020. Not everyone inside the Fed is willing to satisfy, at least to satisfy immediately, the demands of the markets.
In the meantime, the stock lists are proceeding in positive territory: Business Square above parity, below 21 thousand points. Rises around half a point in Paris, Frankfurt and Madrid. London also +0,7%. The giant Hasbro has been awarded the English brand Pigga Pig with an investment of 3,3 billion pounds. The deal will allow the American toy manufacturer to expand its offer aimed at preschoolers and to produce films of weight, thanks to the fact that Entertainment One also produces television and film products.
falls theeuro on the dollar. The single currency instead appreciates against the pound at 0,906 (+0,3%).
The banks reacting to the news that the ECB supervision has eliminated the addendum on non-performing loans launched by former president Danièle Nouy are doing well on the stock market. A softer provisioning calendar comes into effect as a result.
They go up, but less than the previous hours, Unicredit +0,2%, e Bpm bank +1,3%. The other financials are also cooling down: Azimuth + 0,2% Generali in parity.
Industrialists are also in positive territory: Prysmian + 0,5%. Fiat Chrysler + 0,5%. Leonardo + 0,2%. Ferrari +0,5%. The same goes for utilities: Enel + 0,6% Ivy + 1,2% A2A + 0,5%.
Mediaset -0,51%. Yesterday the Biscione filed a complaint with Consob to report to the supervisory authorities that the shareholder Vivendi would be acting to depress the prices of the Alfa stock to derail an operation to reorganize the group in view of the meeting on 4 September.
Out of the main basket, Confinvest is suspended due to excessive reduction.
