Wall Street is breaking records, but the European lists close mixed. Piazza Affari celebrates the newfound confidence of the markets in Italian government bonds and the main list rises by 0,56% to 22.169 points, while the spread falls below the threshold of 200 basis points. However, Frankfurt lost 0,3%, with Angela Merkel still the center of attention for her inexplicable tremors. Paris -0,28%, London -0,25%, good Madrid +0,29%.
In the early hours of trading, there are conflicting signals from Wall Street. The start is rocket-like, with the Dow Jones touching 27 points for the first time in history, then the Nasdaq loses steam after an attack by Donald Trump on China, accused of not buying US agricultural products. But at the moment we are traveling again on historical levels and the climate seems effervescent following yesterday's speech by Jerome Powell in Congress and the consequent greater probability of a reduction in the cost of money in the meeting of 30 and 31 July, to what extent yet to be understood. The hearing of the Fed's number one on Capitol Hill continues today, but the line should not change, despite new macro data favorable to the US economy, in particular the consumer price index for June higher than expected (+0,3% against +0,2% estimated) and weekly jobless claims lower than estimates. In this context, the euro-dollar does not move away from 1,126.
On the Italian secondary, the spread with the German XNUMX-year bond falls below the 200 level at 198,4 basis points (-2,5%) and the yield on the 10-year BTP goes to 1,71%. After the good performance of the morning's auctions, the minutes of the last meeting of the ECB are giving a boost to the purchases, from which it emerges that the members of the governing council have agreed on the need for further stimulus for the euro area economy in a context of heightened uncertainty. An endorsement in this direction also comes from the International Monetary Fund, according to which the area's economy faces growing risks deriving from trade tensions, Brexit and Italy.
Among raw materials, oil, such as Brent, is slowing down: -0,08%, 66,95 dollars a barrel. Gold is in tune, close to 1414 dollars an ounce. Queen of Piazza Affari is Atlantia +2,57%, with the Alitalia dossier on the table of the board of directors. Good Pirelli +2,26%; still running Nexi +1,74%. Prysmian +2,04% and Tenaris +1,83% are still up. The banks are contrasted, two heavyweights like Unicredit +1,15% and Intesa +1,21% doing well; in red Bper -0,83%.
The Agnelli galaxy suffers with Cnh -1,48%; Exor -0,97%; Fiat -0,76%, Ferrari -0,37%. Today Fiat turns 120 and for the president John Elkan it is a "huge goal achieved because few companies in the world have achieved this longevity". Fiat Chrysler meanwhile confirms that it intends to invest 700 million euros in the new electric model of the 500, looking ahead after the failed attempt to merge with the French Renault. On the Ftse Mib, Poste also falls -0,98%.
Outside the main price list, however, there was the crash of Avio -14,69%, due to the first failure in the launch of the Vega satellite.
