Hurray. There is also some good news in the bleak picture of the end of September. A'Wall Street Journal exclusive reports that the US and Chinese diplomacies are working onPresident Xi Jinping arrives in Washington. Chinese Vice Premier He Lifeng may be sent to the US capital soon to prepare the ground for the leader-level summit. In October, Beijing Foreign Minister Wang Yi is expected to arrive in Washington to define the details of President Xi's trip who in November, before meeting Biden, will participate in a summit on Asia to be held in San Francisco. The news serves to soften the mood of the markets, which are set to close today quarter dominated by the rise of the dollar e Petroleum and from run in bond yields in the wake of inflation.
Milan stock exchange: month in the red, but the Eurostoxx does worse
European markets are breathing, after a slight decline in crude oil. EuroStoxx 50 Futures +0,1% signal openings moderately rising, Milan +0,46% to 28.292 points. Yesterday the Ftse Mib closed up by 0,55%. The Eurostoxx 50 (+0,7%, 4.161) is about to close September with a loss of -3%.
Our Ftse Mib, on the other hand, is around a monthly loss of -2,3%. The Italian stock market has demonstrated notable resilience thanks to the support of banks and oil companies.
The Italy-Germany spread is close to 200
The market spotlight is focused on growing tensions in the bond markets. The Italian government has once again found itself in the sights of bond vigilantes, the investors-guardians of debt on the markets who impose budget discipline on governments. The Financial Times voices the concerns of operators frightened by the Italian deficit, which the government revised upwards last Tuesday.
The spread, or the difference in yield between Italian and German bonds, reached 200 during the day before settling at 195.
Yesterday the auction of ten-year Italian government bonds ended with yields rising rapidly to 4,93%, the highest in the euro area against 4,24% the month before. The emergency has affected the rest of the market: yields on German bonds have skyrocketed to almost 3%; the British ones at almost 4,5%; the French ones exceeded 3,5%.
Today the data on inflation and the yield of the BTP Valore
In this context this morning the Treasury will have to communicate the initial yield of the BTP Value on offer from Monday.
Today they will be released data on inflation in Italy and the Eurozone. Yesterday the data from Germany and Spain were communicated. In September, German inflation stood at 4,5%, the lowest level since February 2022. The main German economic research institutes forecast that the country's GDP should decrease by 0,6%. For the second consecutive month in Inflation in Spain accelerated to 3,2%.
Wall Street breathes. Nike +8% raises profits
La drop in the price of oil facilitated Wall Street's rebound yesterday. The Nasdaq gained 0,8%. . September presents a provisional balance of -4,6% for the S&P and the Nasdaq -6%.
In the after-hours Nike presented the quarterly data. Revenues grew slightly (+2% year over year) to $12,9 billion, but earnings per share ($0,94) beat expectations. The stock rose 8%.
Meta launches artificial intelligence in video
Open Ai has announced that it is working on a smartphone powered by artificial intelligence. Meanwhile, Meta Platforms +2%, owner of Facebook, has unveiled a series of new products based on artificial intelligence. Speaking at Meta's developer conference in California, CEO Mark Zuckerberg presented thedigital assistant “Meta AI” which will be able to generate both textual responses and digital images.
The cross euro-dollar it rebounded from the lows of the year reached on Wednesday at 1,0488 in the wake of some profit-taking on the dollar which, let's not forget, comes from 11 positive weeks in a row. At these levels, the greenback closed September with a gain of +2,4%, the best balance since May.
Shanghai on holiday, Hong Kong runs
Chinese stock markets are on holiday from today for the golden week.
The Hong Kong stock market is rising sharply, +2,7%, following rumors about the ongoing rapprochement between the United States and China.
Also supporting the rally are expectations of a significant recovery in consumption next week. The founding of the People's Republic of China is celebrated on October XNUMXst, followed by six consecutive days of holidays. Golden Week is usually a time of travel, commuting and shopping.
Prices falling in Tokyo
Nikkei -0,3%. Inflation in the Tokyo megacity grew at the slowest pace in a year, standing at 2,8% in September, compared to 2,9% in August. The last time the inflation rate was this low was in September 2022. The underlying inflation rate, which excludes fresh food prices, stood at 2,5%, lower than the 2,6% expected by economists in a Reuters poll and also 2,8% in August.
THEBSE Sensex index of Mumbai it rose slightly in the last session of a month from the positive balance to date, +0,9%. +2,7% the quarter.
Oil: a pause in the rise
Oil ($95,10 Brent) fell slightly at the start of the session, from -1,2% yesterday. Prices have moved away from the peak of the last ten months marked at $97,69. According to observers, it was the improvement in macro data from China, the largest oil importer in the world, together with the strong demand for fuel, coinciding with the start of the Golden Week holiday, that supported prices in the last come back.
Erg bets on wind, Dovalue on Cyprus
- Erg announced this morning that it has completed the construction of the Camporeale wind farm (Palermo). The company adds that this is the second plant in the group's portfolio to complete the total technological renewal operations. Paolo Merli, CEO of ERG, commented: "The launch of the Camporeale park, a short distance from the Partinico Monreale project, gives great visibility to the repowering plan of which we were pioneers in Italy", says CEO Paolo Merli .
- Dovalue has completed the acquisition of the NPL portfolio called Sky. This asset includes the on-boarding by Dovalue Cyprus of the Sky portfolio assigned by Cerberus for a total value of approximately 2,3 billion NPEs originated by Alpha Bank Cyprus, of which 2,1 billion represent new assets under management.
