The Zew index pushes the European Stock Exchanges which close a session marked by increases. Piazza Affari +0,68%, still the best in Europe, London +0,57%, Paris +0,51%, Frankfurt +0,68%. Madrid +0,47%.
Germany's Zew investor confidence index jumped to 42 points in August, better than 39,9 expected and up sharply from 36,3 the previous month, reaching its highest level since March 2013. Markets are eyeing macro data from the Europe is looking for confirmations on the improvement of the economic activity. Today, June industrial production data showed an increase of 0,7% over May, slightly below analysts' expectations of +0,8%, while year-on-year growth was 0,3%, above 0,2. XNUMX% expected by analysts. Now markets are eyeing the second quarter Eurozone GDP data due tomorrow. If positive, the Eurozone would emerge from recession for the first time in six quarters.
Positive expectations for the euro area are also encouraging confidence in the periphery, despite the fact that political uncertainties continue to hold sway. The Btp-bund spread has now reached 236 points, the lowest since 2011.
Overseas the indices slipped slightly below parity (Dow Jones -0,12%, Nasdaq -0,17%) after a weak opening in positive territory. Retail sales in the United States rose by 0,2% in July, +0,5% excluding the auto component: the increase is slightly lower than analysts' estimates. Meanwhile inventories in the US remained unchanged in June as analysts had expected a 0,1% month-on-month increase. However, the data points in the direction of a US recovery and the approaching end of stimuli. This explains the rebound of the dollar with the euro-dollar exchange rate at 1,3243 (-0,43%) and the rise in government bond yields to 2,7%. Gold also fell to 1.326 dollars an ounce (-0,6%).
In Piazza Affari, MPS is rallying on the wings of the drop in the spread: 7,6% to 0,225 euros per share with trading over three times the recent daily average. The other banks also performed well: Bper +3,99%, Ubi +3,81%, Bpm +2%, Banco Popolare +2,59%, Ubi +3,81%, Unicredit +0,21%, Intesa +0,13 ,0,57%. Mediobanca -1,19%. In Paris, Socgen sold 517% after Groupama, also a shareholder of Mediobanca, placed the residual stake held in the bank for 14,88 million euro. This morning the insurance group announced that it had launched an accelerated bookbuilding procedure to place 1,86 million shares on the market, equal to 4,14% of Societe Generale's capital.Finemccanica also highlighted on the Ftse Mib +3,26% , which after Friday's push in the wake of the possible privatization dossier, rises to the rumors about a possible partnership with Russina Helicopter. Saipem +2% while Tod's up 2,08% reaches a new historic high. At the bottom of the Ftse Mib Azimut -1,92%, Fonsai -1,58%, Gtech -0,7%, Buzzi Unicem -XNUMX, XNUMX%.
