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Stock market July 23: the week started well but the markets remain nervous for a thousand reasons. Waiting for the quarterly reports

Yesterday the European and American stock markets partially recovered but the markets have not yet decided which direction to take and alert is a must because summer has often been the season of surprises

Stock market July 23: the week started well but the markets remain nervous for a thousand reasons. Waiting for the quarterly reports

Limpact on the markets of Biden's decision to withdraw was really minimal both because investors were discounting this scenario and because the chances of Biden's victory Donald Trump they have not decreased at the moment (many believe they could increase in the short term given the uncertainty within the Democratic Party). “We believe that a more accurate assessment of the effects on the markets can only be made after knowing the full Democratic ticketi for the presidential race,” say analysts. At the moment the names have been mentioned: Josh Shapiro (Governor Pennsylvania), Gavin Newsom (Governor California), Andy Beshear (Governor Kentucky), Mark Kelly (Senator Arizona), Gretchen Whitmer (Governor Michigan), Raphael Warnock (Senator Georgia) and Pete Buttigieg (Secretary of the Department of Transportation).

The rotation continues, it's time for mid caps but Tesla sounds the awakening of the Bigs

Continue the rotation: steps back for the “magnificent seven” and for the tech sector, even if they recovered yesterday (Tesla in the lead). Significant increases also for "small"/mid capitalization companies. In July the index Russell 2000 highlights an increase of 7%, Dow Jones of 3%, little moved on Nasdaq 100.

The reasons are many: a change of perspective on someone else interest rate cut by the Federal Reserve, an increase in expectations of a return of Donald Trump in the White House and an overbought situation for the technology sector.

Not just the USA. China cuts loan rates

The People's Bank of China (PboC) cuts the annual loan prime rate by 10 basis points, bringing it to 3,35% after leaving it unchanged for ten consecutive months. The five-year prime loan rate was also lowered by 10 basis points (to 3,85%). The decision came as a total surprise.

Piazza Affari: The stocks in the spotlight

Finecobank (+2%) leaps forward and rises to the highest since February 2023. Over the weekend Il Messaggero reported that Zurich is evaluating the possibility of acquiring the Italian group. He had also spoken about Zurich's interest the Sun 24 Hours in the past week, along with that of private equity funds Bain, CVC and Advent. The Roman newspaper added that the operation could also see the participation of Advente and KKR. The insurance company, however, "categorically denied" the news. 

A2A +2% rises and reaches the highest since the beginning of June. The stock was indicated by Alberto Villa, Head of Equity Research at Intermonte, among those that will give the best satisfaction in terms of accounts in the utility sector.

Good start of the octave for Unicredit +3% which rises to the highest since August 2011. In an interview with Messenger published yesterday, CEO Andrea Orcel stated that the group intends to reduce the staff of its central offices (finance and human resources areas in particular) through early retirement and repositioning into more productive roles.

Bpm bank +2,4% Intesa Sanpaolo confirmed the buy recommendation and increased the target from 7,00 to 7,40 euros.

stellantis positive despite the revelations of Reuters according to which US government documents show that the group has paid over 190 million dollars in civil penalties for failure to comply with US consumption standards for 2019 and 2020 and owes approximately another 460 in back penalties.

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