Pirelli (+ 8,64%), Shelf (+ 6,3%) Daimler (+ 4,3%), bmw (+ 3,85%), Volkswagen (+ 3,79%), Peugeot (+ 3,7%), Renault (+ 2,53%), fca (+3,08%). These are just some of the results that are bringing the European auto sector into orbit which, after months of suffering, raises its head again driven by the news from Germany. The German tire maker gave a cut to its estimates for the current year, but confirmed that the quarterly data, to be published on August 7, will be in line with expectations. At the same time, the Chinese group Baic announced that it had acquired 5% of Daimler. The two companies have been partners in China since 1984.
That was enough to unleash a real rally in the European automotive sector – the continental sector index gaining almost 4% – which pushed up all the European stock exchanges: Frankfurt is the best (+1,64%), buy on Paris (+0,92%). Well London (+0,56%) after the arrival of Boris Johnson to lead the Tories and consequently of the British Government. Salt as well Madrid (+1,29%) following the black smoke in the Chamber in the context of the vote of confidence in Pedro Sanchez.
Business Square in the afternoon he increased his earnings and at the end of the day he scored +1% on the threshold of 22 thousand points, exceeded for a few minutes. Milan decides to ignore the new alarm from the International Monetary Fund on the Italian accounts: "the uncertainty about the budget prospects remains similar to that encountered" in April "with an impact on investments and domestic demand", reads the update of the World Economic Outlook. By virtue of this analysis, the IMF confirmed the estimate of +0,1% for the GDP of 2019, revising however downwards by 0,1 percentage points, to +0,8%, that for 2020.
The excellent performance of the industry also favors the rise in the Ftse Mib Prysmian on the shields (+5,85%) after taking home a 700 million contract. The company announced that it has received the letter of assignment from National Grid Viking Link Limited and Energinet for the construction of Viking Link, the first submarine cable interconnection between the United Kingdom and Denmark.
Strong purchases also on Leonardo (+3,1%). Positive all the titles of the Agnelli galaxy: Juventus + 2,6% Exor + 1,44% Cnh + 2,6% Classic Ferrari for sale + 1,14%.
In green the banks in the wake of the results above expectations ubs e Banco Santander: Unicredit (+ 2,65%), Finecobank (+ 2%), Intesa Sanpaolo (+1,17%). It's an exception Bper (-0,53%).
The oil companies led by rise Saipem (+2,52%), good Eni (+0,52%) which sold 13,75% of exploration blocks in Kenya's deep waters to Qatar Petroleum. Tenaris (+ 0,75%).
On the other side of the fence, profit taking is striking Amplifon (-1,29%), Unipol (-0,68%), Diasorin (-0,68%) And Poste Italiane (-0,64%).
Moving to the United States, Wall Street proceeds well in tune, thanks to the agreement on the debt ceiling reached yesterday between the White House and Congress, but also to the renewed optimism on trade negotiations between the US and China. According to the Chinese press, a US delegation could fly to Beijing next week. The Dow Jones climbed 0,3% supported by better-than-expected accounts of Coca-Cola (+5,6%). +0,27% for the S&P 500, +0,1% for the Nasdaq.
On the bond, the tension on the decreases spread after yesterday's surge which had brought the differential between the Btp and the Bund above 200 basis points. Today's closing is at 195.8 points, with the yield on the Italian stock equal to 1,607%.
Turning to currency, theeuro it is down sharply above 1,11 dollars and is traded at 1,115 dollars, while oil remains stable after days of turbulence.
