Positive day on Asian stock exchanges with Tokyo which after the 10% rebound recorded yesterday takes another step forward (+1,19%) while i yen has weakened by 2% to 147,27 on the dollar after the deputy governor of Bank of Japan he sent reassuring signals to investors excluding a new rate hike, after that of July 31, if the markets are unstable. Also on the rise Hong Kong (+1,6% with the session still open) while the Chinese stock markets showed more modest progress Shanghai (+0,36%) and Shenzhen (+0,2%) also due to some disappointing quarterly results. I am well tuned meanwhile i European futures and those of Wall Street. Overnight, US treasuries yields rose to 3,91%.
Stock market August 7th: after so many emotions, it slows down
The VIX volatility index (so-called fear index) is down 16% to 32,3, from yesterday's peak of 65,50, a record for the last four years. The United States stock market thus experiences a timid rebound after having recorded three heavy drops: S&P500 +1,4%, Nasdaq +1,2%, Dow Jones, +0,76%.
In Europe, the most penalized sectors include Automotive and Real Estate. But German industrial orders increased in June by 3,9% compared to the previous month. Tokyo's rise did not have major effects on the European stock markets which closed a volatile and contrasting day yesterday: EuroStoxx50 Index +0,79%, Milan FtseMib -0,6%, Madrid -0,33%, Paris -0,27, 0,13%, Frankfurt Dax +0,73%. Only Amsterdam +XNUMX% did well, in the wake of the rebound in US tech stocks.
Stock market August 7: lots of volatility in shares
A +2,23%: A US federal judge declared that Google has implemented illegal practices to maintain a monopoly in two markets: general search services and general text advertising.
Caterpillar, -0,52%: Reported an increase in adjusted quarterly profit, supported by demand for large excavators and other construction equipment amid rising U.S. infrastructure spending. Adjusted earnings per share for the second quarter rose to $5,99, up from $5,55 a year earlier.
It bounces Nvidia +4,17%, from -6% yesterday.
Palantir -0,22%: the data processing software company released its quarterly accounts, results exceeding expectations thanks to the push of artificial intelligence, 678.1 million dollars against a forecast of 652,8 million.
La stock volatility it surged 400% in four weeks, hitting systematic funds hard and causing massive adjustments.
The movement has been substantial, there are opportunities to pick among defensive sectors and quality stocks that have suffered significant losses. John Drums notes that a significant share of deals (-60 in numbers, -65% in value) in the last 24 months has undergone a more marked decline: this confirms a marked trend destined to end.
Despite the negative elements, there is indeed room for a re-widening of the market after the valuation reset, also helped by the return of buyback plans. It is crucial to maintain clarity and select carefully to guide the next rebound.
Government bonds in settlement. Ten-year Treasury Note yield at 3,82%. Bund at 2,14%. BTP at 3,63%. Spread at 152 basis points. Euro dollar falling to 1,091.
USD/Yen cross +1% to 145,7. The yield rate on the Japanese 14-year bond rose by 0,92 basis points to XNUMX%.
Brent oil and WTI -0,8%. Gold at 2.391 dollars, -0,8%. Bitcoin +1% to 54.500 dollars, from -8% yesterday.
Stock market: MPS flies at Piazza Affari
In Piazza Affari the fear of taxes on banks is extinguished (for now): Monte Paschi Bank, yesterday at +8,69%, closes the half year with net profit above expectations and equal to 1.159 million, up 87,3% compared to the same period of 2023, of which 827 million in the second quarter.
Bpm bank +2%. After the green light from Bankitalia and Consob, today's Board of Directors of the bank, which will approve the results today, will give the OK to Numia, the payment services hub, controlled by the Strategic Fund at 43%, Bpm at 28,5% and Bcc bank at 28,5%. He writes it The messenger.
Banca Mediolanum: recorded total net collections of 674 million in July, with a balance since the beginning of the year of 6,34 billion.
Ferrari -1,52%: down with everyone in the automotive sector. Only Iveco (+2,05%) moved against the trend.
FinecoBank: in July, net collections reached 755 million, up 55% from 486 million in July 2023.
nexi + 2,48%.
Saipem -0,30%: The Only 24 hours writes that the company is about to win two new contracts from Saudi Aramco for a billion dollars regarding the Marjan and Zuluf offshore fields. The newspaper adds that the market rumors about the imminent assignment arrived on Monday. S&P confirmed the BB+ rating.
Out of the main basket, believe closed the first half of the year with a consolidated net profit of 323,8 million, up by +8,4% compared to the same period of the previous year and an interest margin of 570,3 million, +13,1% on year.
Fincantieri Vard, a Norwegian subsidiary, has signed a contract for the design and construction of an Energy Construction Vessel (ECV) for Wind Energy Construction AS. The new ECV will be based on the Vard 3 11 design, specifically designed for the offshore and subsea wind market.
