And that's fifty. Yesterday the S& P 500 index established, for the fiftieth time in 2021, the new historical record, immediately imitated by the Nasdaq, which rose above 15 thousand points. Without emphasis but with solid optimism, the US markets are approaching the only virtual appointment in Jackson Hole where, surrounded only by the trout of the Taton Valley, Jerome Powell will let it be understood that, in September, the Fed will begin to prudently reduce the purchases on the market. In the meantime, there are those who, like the manager David Giroux of Capital Appreciation (famous for having hit all the market trends since 2006) have reduced their exposure to shares. But the desire to buy remains high: the buy advice launched by Cathie Wood, the prophetess of the digital economy, was enough for the shares of the Chinese JD. com shot up 14,4%.
SOFTBANK RECRUITS FORMER MOSSAD HEAD
And just to confirm the intertwining of technology and politics comes from Softbank, the Japanese giant, the news of an important hiring: Yossi Cohen, former number one of the Mossad, joins the board, one who understands these things. After yesterday's rebound, he is holding back the recovery of Chinese stocks. Hong's Hang Seng is down by 0,3%, from +1% at the start of the session (+3% for the tech sector). The CSI 300 of the Shanghai and Shenzhen price lists is on par.
MUMBAI +0,3%. IN VISITING MONSOONS BELOW AVERAGE
Small declines or slight increases elsewhere in Asia Pacific: Sydney +0,16%. Mumbai's BSE Sensex is up 0,3%. A leading weather research firm tonight updated its forecast of rainfall during the currently ongoing monsoon season. Skymet expects rainfall equal to 95% of the average value of the last fifty years, down from 103% in April.
GAME STOP RUNNING BACK AT WALL STREET +24%
Wall Street futures retreat in the aftermath of the double record. The Dow Jones rose 0,09%. Back to running one of the "meme stocks" by very small organized investors. Game Stop gained 27%. WTI oil falls back to 67,37 dollars (-0.25%), after two days of strong increases.
EURO WEAK, EUROPEAN LISTS LOOK TO THE FED
European stock exchanges are awaiting the words of Jerome Powell, who will comment on the prospects for monetary policy on Friday in Jackson Hole. In the meantime, the price lists are proceeding in no particular order, favored by the quotation of the euro at its lowest level for five days in the low end of the fork with the dollar. The liveliest place yesterday was Frankfurt, against the slight upward correction of German GDP in the second quarter to +9,4% from +9,2%.
MARK&SPENCER FLIES TO THE CITY IN A LITTLE MOVE IN THE CITY
Piazza Affari -0,07% still defends the 26 thousand (26.027) share according to a V-shaped movement between 26 thousand-24 thousand-26 thousand points, which could push, according to the graphic artists, the index towards 29/30 thousand points, with an inversion of the trend of the last twenty years. Northern European lists are up: Frankfurt +0,29%, Amsterdam +0,37% and London +0,16%. Marks & Spencer boom +4,9% in the City: Berenberg and Credit Suisse have raised the price targets of the retail chain. The markets overlooking the Mediterranean slow down: Madrid -0,21%. Paris -0,28%.
TOURISM, TRAVEL AND… SALMON IS RECOVERING
The recovery of luxury has already stopped: the big companies report losses in the order of 2%. On the contrary, Air France takes off +4,5% together with tourism stocks such as Accor +3,4%. Positive points for fishing. The Norwegian companysalmon farming Bakkafrost Bakka gained 1,5% after second quarter results. Novartis loses momentum in Zurich -0,9% after the company said the Kymriah cure did not meet the primary objective of an advanced stage trial for the therapy of Covid 19.
DEBT, THE FIRST AUTUMN AUCTIONS UNDERWAY
BTPs moved little on the eve of Jackson Hole and the first auctions after the holidays. The rate of the 10-year BTP benchmark is trading at 0,576% from 0,585% at the close on Monday, when it had gone during the session to a three-week high above 0,60%. The spread with the corresponding German Bund rose to 104,4 bp from 105,8. In the first syndicated issue of the Eurozone after the summer break, Finland placed a 5-year bond for 3 billion euros.
Meanwhile, Germany placed 2,48 billion euros in the reopening of the seven-year bond in November 2028, with a yield down to -0,65% from -0,58% the month before. On Friday, the Treasury will offer up to 6,5 billion 6-month BOTs. The day before, up to 2,75 billion short-term Btp and 1 billion Btpei 2026 will be available to investors.
UNICREDIT: WITHIN THE YEAR 15 BILLION IN SYNDICATED ISSUES
The Treasury will carry out domestic issues for another 100 billion euros gross by the end of 2021, 85 billion in regular auctions and 15 billion through syndicated operations. These are the estimates of a UniCredit report according to which the Mef will aim, as regards syndicated issues, above all at the extra-long part of the curve, with the reopening of the Green bond together, or alternatively, with a new thirty-year benchmark and subsequently with a new BTP Italy.
LEONARDO SUPERSTAR, BETWEEN THE US ARMY AND FINCANTIERI
In Piazza Affari Leonardo shines, +2,81%, after the announcement of the partnership agreement with Northrop Grumman to supply pointers/trackers for the United States army. Interest in the stock was also aroused by the rumors relating to Fincantieri's attention -0,41% for the perimeter of the former Oto Melara, controlled by Leonardo and merged into the Defense Systems division in 2016. Intesa Sanpaolo confirmed the add e rating the target price at 8,2 euros. Some industrialists are on positive ground: Cnh Industrial +1,16%, Stm and Buzzi +0,41%. Prysmian also up +0,86%
STELLANTIS, THE INTELLIGENT CAR WITH THE TAIWAN PARTNER AT THE START
Important step for Stellantis +0,26% for the conquest of the electric and Chinese market. The new company Mobile Drive finally comes to life with the equal participation of the Taiwanese Foxconn. The newco will deal with the development of digital technologies for the automotive sector: infotainment programs, telematics and cloud service platform development through software that should include applications based on artificial intelligence, voice assistance, 5G communication, navigation, e-commerce operations and integration of payment services. Positives and oil: Eni +0,84%, Saipem +0,82%, Tenaris +0,3%.
IN RED UTILITY AND LUXURY
At the bottom of the utility and luxury price list: A2A -1,8%, Snam -1%. Moncler drops 1,51%, Tod's 2,65%, Salvatore Ferragamo -1,35%.
THE DBA RALLY CONTINUES THANKS TO THE SERBIAN JUDGES
AIM still in the spotlight Dba +20,78% (Monday +5,48%). The gains were triggered by the agreement for the creation of a centralized system for managing files for the Serbian judiciary.
