Le European stock markets close positive today, though far from the Tokyo leap (+3,45%) stopped yesterday due to holidays and the sustained performance of Wall Street, after the publication of July producer prices, lower than estimates. Contributing to curbing enthusiasm in the Old Continent was the collapse of German investor confidence with the figure falling this month to 19,2 points from 41,8 in July, in an increasingly alarming geopolitical context. The FT claims that Ukrainian forces seek to consolidate their positions in the newly conquered Russian territory and publishes the European sites targeted by Putin in the event of an extension of the conflict to NATO. In Middle East il Times of Israel writes that Iran will not attack if a truce results from the talks, but the military wing of Hamas officially declares that it has launched the two "M90" rockets against Tel Aviv, even if no casualties have been reported.
Thus Piazza Affari gains 0,25%, after various ups and downs, between low volumes in the vicinity of the mid-August holiday and little-moved banks, while it closes in black Telecom Italy -1,45%, which at the opening had reached a rise of 1,5%, after the sale of the remaining 10% stake held in Daphne 3 to the Ardian fund, a holding company that owns 29,9% of Inwit (+0,39%).
Earnings are little more convinced to London + 0,3% Paris + 0,35% Amsterdam + 0,37% Frankfurt +0,54%. The best is Madrid + 0,73%.
Wall Street tonic with slowdown in producer prices
Overseas the situation is strengthening good Wall Street pitch, where the Nasdaq leads in gains with an advance of 1,8%. Among the mega caps it runs Nvidia +5,3% after the rally the day before and the Philadelphia SE Semiconductor Index rises by 2%, reaching an almost two-week high. Among other titles it shines Starbucks (+22%) which has called Brian Niccol from Chipotle to lead the group.
Apparently the American market has welcomed the slowdown in producer prices in July: the index rose by 0,1% on a monthly basis while the core component grew by 0,2%, against expectations for a rise of 0,2% for both. THE'attention now shifts to consumer prices, out tomorrow and on retail sales, which will be announced Thursday. The reading will help to understand to what extent inflation is slowing down and at the same time what the state of health of the Stars and Stripes economy is. On the Fed's actions, observers remain practically divided in half, between those who believe that the central bank will cut rates by 25 basis points in September and those who instead estimate a cut of 50 basis points.
In this context T-Bond prices rise and returns drop.
In Europe, in the macroeconomic context, it positively surprised the drop in unemployment in the UK in the April-June period: -0,1%, for a rate of 4,2% (against expectations of 4,5%).
Dollar falling, raw materials slow down
The trend in producer prices in the United States weighs on dollar which is losing ground against the main currencies.
Si it also strengthens the euro, Despite the disappointing German Zew index. The cross is currently at 1,0955.
He runs even further GBP, for an exchange rate against the greenback of 1,2825.
The progress of the yen, which sees the change around 147.
The day is not very favorable for raw materials. Gold is slowing, while oil is falling, with Brent and WTI futures losing around 1,3%.
Piazza Affari, regains 32 thousand points: Nexi and utilities do well
With today's small step, Piazza Affari has regained 32 thousand basis points, thanks to the shopping on Nexi +2,43% and utilities.
In particular, they are placed on the main price list in light Hera + 1,4% Enel + 1,04% Terna + 1,03%.
Among the best blue chips of the day too cucinelli +1,45%, which grabs a rebound after recent losses.
Prysmian it appreciates by 1,29%, driven by the victory in the lawsuit against Sterlite for infringement of trade secrets and after obtaining compensation of 96,5 million dollars from a South Carolina court.
The sales side of the Ftse Mib is led by Telecom, followed by Bper, -1,24%, in a banking sector that has moved little after recent gains. Ps falls by 0,43%.
They go down Interpump -1,01% and Finecobank -1,04%. Also on the list of major reductions stellantis -0,73%, on which RBC lowered the price target from 24 to 18 euros. Oil stocks are weak.
Declining spreads and yields
Lower inflationary pressures in the US also favor purchases of European government bonds, which are seeing falling yields.
Il ten-year BTP it is indicated at closing at 3,57%, for a spread with the German counterpart decreasing to 142 basis points.
