Le European stock exchanges I am in rise a half sitting, recovering after a turbulent start to the week thanks to the rebound on Wall Street and Tokyo. Milano leads the gains with an increase of 2,11%, followed by Madrid (+ 1,72%), Paris (+ 1,69%) and Frankfurt (+ 1,58%). London is more cautious, with an increase of 1,07%. Milan benefits above all from the support of banks e delle buone quarterly.
Bucking, Commerzbank loses almost 5% after reporting net profit down 4,8% in the second quarter, but confirming targets for the year and a new buyback plan. Also New Nordic is down (-2.%) after lowering its 2024 estimates due to lower-than-forecast sales for its drug Wegovy and an extraordinary provision.
European stock market rebounds: crisis over?
Global markets are attempting a recovery after the recent turbulence, with i fears of a recession in the United States yes attenuate. The return of confidence was fueled by the rebound in Japanese shares, which recovered ground after the plunge caused by the Bank of Japan's decision to raise rates, strengthening the yen and hitting the carry trade.
On a day devoid of significant macroeconomic data, investors are waiting for the data on US unemployment benefits which will arrive on Thursday 8 August. These reports will be fundamental to assess the health of the US economy and to guide the Fed's future monetary policy strategies.
Positive Wall Street, eyes on Super Micro Computer
In the United States, i futures indicate moderate openness positive: Nasdaq e S & P 500 just above 1%, Dow Jones to +0,76%.
Among the highlighted titles is Super Micro Computers, which in fact managed to match the stock rally recorded by Nvidia, causing its shares to soar +116% since the beginning of the year. Despite an official close up 1,3%, Super Micro fell 14,5% in the after-hours due to lower-than-expected earnings and the announcement of a 10-for-1 stock split, scheduled for 1 ° October. Dell fell 2,4%, while Nvidia and Broadcom rose 1,2% and 1,4%, respectively.
Disappointments also come from airbnb (-16%) And TripAdvisor (-15%), with both stocks reporting profits and revenues below expectations.
Il return of the Treasury Notes at 10 years it stabilizes at 3,937%.
Banks in the spotlight in Milan: MPS continues its rally
A Business Square, attention is focused on banking stocks. Monte Paschi Siena marks a notable +6,55%, continuing the rally thanks to better-than-expected results and analyst promotions. Positive too Unicredit (+ 3,9%), Banca Mediolanum (+ 2,93%) and Bpm bank (+1,85%), the latter supported by a half-yearly profit up by 20% and by an upward revision of earnings per share estimates. More moderate B for Bank (+1,31%), which reports an increase in half-yearly profit of 2,8%, but i results are below expectations.
Up too Prysmian e Iveco, with earnings above 3%. Poste Italiane advances by 1,64% after announcing a second tranche of the buyback program, with an outlay of up to 41 million euros for a maximum of 2,3 million shares, equal to 0,18% of the capital.
In red only Campari (-0,48%), Diasorin (-0,15%) And Amplifon (-0,14%).
The other markets
On the foreign exchange market, theeuro is slightly decreasing (-0,12%) to 1,0917 dollars (from 1,092), while the Japanese yen weakens. The euro/yen exchange rate rises to 160,5 and the dollar/yen to 147,2.
THEgold it rose slightly to 2393,3 dollars per ounce (+0,14%). Also the Petroleum is growing due to fears of an escalation between Israel and Iran: Brent in October exceeds 77 dollars a barrel and WTI exceeds 73 dollars. The gas is rising moderately (+0,34%), at 36,8 euros per megawatt hour on the Amsterdam TTF platform. And the bitcoin exceeds $56.500.
Lo spread between BTp and Bund continues to decrease, falling to 147 basis points (-3,27%). The yield on the Italian Treasury bond, however, rose to 3,72% from 3,64% the day before.
