Lo spread drops below 100 e Business Square it is one of the few positive stock exchanges in Europe today, +0,39%, just enough to grab 26 thousand points, at the end of a fluctuating session, held in check by the thud of luxury and by the data on consumer prices in the US in the month in August, lower than expected and therefore better for those who see the start of the Fed's tapering as smoke screens. This latest news also favored the matching opening of Wall Street, but within a short time the three main indices changed course and are currently moving in contrast, with the Dow Jones laggard (-0,4%) and the Nasdaq up (+0,2%; pushes further onapple accelerator).
On this side of the Atlantic at the final stages London loses 0,47%; in the euro area Frankfurt it appreciates by 0,14%, it is more toned Amsterdam +0,79%, while I'm behind Madrid -0,4% and Paris -0,36%.
On all the price lists and in particular on that of the French capital, the sales of big names are felt, from Lvmh to Kering, to Burberry to Moncler (-0,07% in Milan). The news from China weakens the luxury, where Covid is growing in some areas in the run-up to the national holiday for the founding of the People's Republic (October 1), which usually brings mobility for tourism and shopping in abundance. Furthermore, the crisis of the real estate giant Evergrande is causing concern, which has admitted to facing "enormous pressure" and not being able to honor its commitments with creditors.
In the macro agenda, today's date was instead marked with the red circle for theinflation stars and stripes and for its reflections on the Fed, which meets next week. In fact, in August consumer prices increased at the slowest pace in the last six months (+0,3% on a monthly basis +5,3% year on year), a trend which may lead to the idea that US inflation has reached its peak. The Fed thus has, possibly, a foothold to postpone the announcement of the start of the withdrawal of the huge monetary stimuli. In light of this information, the dollar immediately fell, treasury yields began to retreat and Latin equities began to rise.
Currently, however, as mentioned, the American stock exchange is trading partially in the red, while the dollar index continues to decline and the yield of the XNUMX-year T-Bond is in retreat at 1,277 (-3,6%).
THEeuro trading against the greenback modestly up around 1,182.
Among the raw materials the Petroleum it is losing its luster but remains green, driven by the threat of hurricane Nicholas while the plants in the Gulf of Mexico have not yet returned to full capacity for the passage of Ida.
Brent rose by 0,2, to around 73,70 dollars a barrel, after exceeding 74 dollars in the session; Texan crude moved up by a similar percentage, to 70,65 dollars a barrel. L'gold it climbs 0,7% above $1806 an ounce.
In Milan, the data on inflation in the United States above all favored purchases of bonds, so much so that the spread fell in the session to around 98 basis points, only to then rise again at the close to 99 -3,23% compared to yesterday).
The Italian 0,65-year rate also fell by +5,75%, after the auction in which the Treasury placed medium-long term bonds for 0,34 billion. The Bund records -XNUMX%.
As regards the pandemic purchases of the ECB, Frankfurt reports that, during the last week, it bought bonds for 14,66 billion euros, down compared to 16,74 billion in the previous week. The total assets purchased since the beginning of the program have risen to 1356,48 billion out of a total budget of 1850 billion. At its meeting last week, the ECB's Governing Council decided that weekly purchases for the fourth quarter will be moderately lower than in the previous two quarters.
In equities, the big-cap hike list is dominated by stm, +3,62%, to the maximum in view of the presentation of new products by the Apple customer, this evening at 19 pm Italian time. In July, rumors circulated according to which the Cupertino giant would have asked its suppliers to prepare up to 90 million units for the launch of the new iPhone 13, a value about 20% higher than previous models. The stock also benefits from a report by Credit Suisse, which confirmed the "outperform" valuation and revised the price target upwards from 41 to 46,50 euros.
After yesterday's slide, health stocks such as Amplifon +3,24% and Diasorin +2,59%. Well Ferrari +1,84% and Interpump +1,52%. Among the oil companies it shines Eni, +0,91%, on the potential interest of sovereign wealth funds in becoming a minority in the Italian group's retail and renewables business.
Among the utilities it is appreciated Terna +1,21%, while the sun remains high up General Bank +0,75%, which to a certain extent is affected by the match that Del Vecchio and Caltagirone are playing against the Trieste lion (-0,28%) and Mediobanca (+ 0,53%).
The most consistent discounts are for Saipem -2,08%Telecom -1,76% and banks. It starts from Bpm bank -1,35%, to continue with Unicredit -1,23% Bper -0,52% Understanding -0,31%.
In the session selling energy for shares Enel, -0,85%.
Out of the main basket De'Longhi leaves 9% on the ground, after the placement of shares by the family.
