Sprint for the Ftse Mib (+1,55%) and overall positive European stock exchanges: Paris + 0,49% Frankfurt + 0,3% Madrid +1,01%. He just suffers London (-0,17%) on the eve of tomorrow's Scottish independence vote.
While the Queen postpones the ball at Balmoral, her Scottish residence, by a day (to Friday) to allow her collaborators to be able to go to the polls in peace, Edinburgh records an unemployment rate of 6%, better than the overall figure for the United Kingdom United Kingdom which stops at 6,2%. In the debate on the referendum, the data was used by both sides with opposing theses.
John Swinney, finance minister in the Edinburgh government, is a sign that Scotland is doing better than the United Kingdom and could become even richer with secession. While according to the UK Deputy Treasury Secretary, Danny Alexander, “is a strong demonstration of how the two nations are better together”. Meanwhile, Prime Minister David Cameron has reiterated that he does not intend to resign if Scotland gains independence.
Markets look to Fed meeting tonight and at President Janet Yellen's subsequent press conference. The data on US inflation released today which was below estimates (-0,2% in July, the first drop since April 2013) eased tensions and led to thinking that the Fed could abandon an aggressive policy in relation to the increase in interest rates.
Recently, the market has been growing nervous that a return to tighter monetary policy could happen faster than expected in the wake of the recovery of the economy. Meanwhile, Moody's stressed that the outlook on the Aaa rating of United States remains stable thanks to the diversified economy, growth and the status of the dollar and Treasuries as a global reserve asset.
The change euro dollar trading flat at 1,2958, the Petroleum Wti loses 0,54% at 94,37 dollars a barrel. Wall Street it opened weakly but at the end of Europe it remains in positive territory. Eyes on DuPont where activist investor Nelson Pelts is aiming for the spin-off.
From China then came the news of new stimuli to the economy decided by the Chinese Central Bank. Yesterday, the bank provided 500 billion yuan (about $81 billion) in liquidity to the country's top five banks: Industrial & Commercial Bank of China, Agricultural Bank of China, China Construction Bank Corp, Bank of China and Bank of Communications.
In Piazza Affari it's a day of bulls: Wdf shines above all and gains 4,75% on the expectation of an acceleration in extraordinary transactions after the exit of the managing director José Maria Palencia. They follow Where's Banca (+ 3,87%), Cnh Industrial (+ 3,63%), Azimuth (+ 3,63%), Banco Popolare (+ 3,08%).
Also good Mediobanca that runs (+2,71%) after the return to the dividend. Generally a positive day for the banks awaiting the launch of the ECB's wall-mounted Ltro program tomorrow. Unicredit + 2,09% Understanding + 2,16% bpm + 2,77% Ps +0,65%. The spread Btp bund travels slightly down to 137 basis points. Luxury tumbles at the bottom of the Ftse Mib: Tod’s -0,86% Moncler -0,74% Ferragamo -0,71%. Among the worst too Pirelli (-0,43%) And Terna (-0,15%).
