August, by tradition volatile month par excellence, it must be approached with caution. And so, despite good signals coming from the real economy, both the European Stock Exchanges and Wall Street, at the top, prefer to collect part of the profits.
London falls by 0,5%, less marked declines in the rest of Europe. TO Frankfurt the Dax falls by 0,2%, Paris earn 0,1%, Madrid –0,2%.
In England the HSBC quarterly disappoints -4,9%: profit before taxes of 14,1 billion dollars, up 10%, but lower than the 14,6 billion estimated by analysts.
Business Square it falls by 0,2% to 16.757 bps.
Calm reigns on the front of the sovereign debt. The 2-year Btp/Bund spread falls by another 257 points to 10 for a 4,22-year Btp yield of 19%. The XNUMX-year yield fell to the levels of June XNUMX after Berlusconi guaranteed his support to the Letta government.
Wall Street slightly down, the S&P500 and Dow Jones fell by 0,2%, the Nasdaq by 0,1%. The three main US indices move slightly below last week's records.
In great evidence Berkshire Hathaway's +0,9% after net income of $4,54 billion or $2,763 for Class A shares. Analysts estimated earnings of $2,170 per share.
Good macro data with index finger Composite PMI European Union rose to 50,5 points in July, better than the 50,4 estimated and above the 50,4 of the previous month. The figure is at its highest since August 2011. Above 50 points, the figure indicates economic expansion.
Le retail sales in June they fell in Europe by only 0,5% against the 0,9% estimated by economists, in May they had risen by 1,1%.
In Usa the ISM compound non-manufacturing index for July beat expectations at 56 points above the 53,1 points estimated by economists and up sharply from 52,2 the previous month. The threshold of 50 points indicates economic growth.
In Piazza Affari the best blue chip is Mediaset +4,4%, is the best blue chip after the promotion of Deutsche Bank.
It bounces Diasorin +1,8% despite Cheuvreux's cut to hold.
Three le negative notes: Parmalat falls by 3,8%, it came to lose more than 5% after Lactalis denied the rumors of a residual takeover bid on the stock. Telecom Italy -1,6%. Fitch cut its debt rating by one notch to BBB- with a negative outlook. The group stated that a capital increase is not needed to achieve the budget targets. Buzzi Unicem -0,4%, Mediobanca reduced its target price to 10 euros from 11,2 citing the group's difficulties in Italy and Russia.
Fiat + 0,5% Brembo +1,7% new historic record at 18,34 euros.
Bank stocks are also weak: Intesa San Paolo -1,4% after the quarterly presented last Friday. , Unicredit -0,6%, Mps -0,5%. Well Azimut after harvest data.
Among the insurance companies Fondiaria Sai +1,5%, returning to the levels of mid-May.
