Lightning exploded in the skies of Wall Street at the end of the session: Walmart, America's first retail chain, launched theuseful alarm. Profits, we read, are destined to fall because the group will reduce selling prices to push Americans, squeezed by the increase in food and petrol, to go back to buying. The response was not long in coming: the stock left around 11% on the ground, dragging down even the enemy Amazon (-4%), leader of electronic commerce. It is an eloquent sign of the perverse mix between inflation, still rising, and the threat of recession, which comes at the beginning of a crucial week: from today to Friday, 166 companies in the S&P index will announce their accounts , including Alphabet, Microsoft, Coca Cola and Apple. Finally, Thursday evening there will be the Fed verdict: taking into account the 75 points increase in rates, the Central Bank could announce a new severe tightening for September. Unless Wal-Mart's message leads to milder advice.
Weak futures in Europe and New York
Wall Street futures move just below par. Yesterday, before the final shock, the lists were not moved. Dow Jones + 0,28% S & P 500 + 0,13% Nasdaq -0,43%.
European stock futures are flat this morning, index Euro Stoxx 50 -0,1%.
the best bag yesterday was Business Square, Followed by Paris (+ 0,25%) and Madrid (+0,39%). Weaker Frankfurt (-0,44%), held back by the decline in confidence marked by the Ifo index and by the slowdown of Volkswagen after the turnaround at the top.
It also collapses Philips (-10% in Amsterdam). The Dutch consumer goods giant lowered its 2022 forecast due to the impact of inflation and lockdowns in China.
The yield of BTPs is 3,27% Russian blackmail on gas
Bond market buoyed by worries of a slowdown in the global economy. The XNUMX-year Treasuries trades at 2,79%, on the lows since May. XNUMX-year bund German 1,02%. The yield of XNUMX-year BTP is at 3,27%. spread at 225 basis points.
Russian blackmail on energy is once again weighing on Europe. Gazprom announced that will reduce gas supplies to 20% of capacity to Europe via the pipeline Nord Stream 1 starting tomorrow: according to the Russian group, another turbine would have operating problems and would require new maintenance work. But for the German government "there is no technical reason" to justify the drop in supplies. The EU energy ministers will meet today in Brussels to examine the new plan to save gas consumption.
The price of gas futures Europe grew by 6,7%, exceeding 170 euros per megawatt hour.
Il Brent oil and WTI it is up by 1,30%. Oil prices rise on expectations that Russia's reduction in natural gas supplies to Europe could encourage a switch to crude.
Alibaba (+5%) enters the Hong Kong Stock Exchange
In the final session the Nikkei Japanese is flat, Hang Seng of Hong Kong +1,5%, CSI300 + 1%. Kospi of Seoul +0,3%, sensex of Mumbai -0,7%.
Worth noting is the announcement that Alibaba (+5%) plans to list in Hong Kong as well as in New York, targeting investors in mainland China directly. The e-commerce giant's move, announced tonight, comes as Washington and Beijing tighten their scrutiny over Chinese company listings and after a tough regulatory crackdown by Chinese authorities fined Alibaba $2,8 billion.
Piazza Affari: Eni, discovered in Algeria. Brembo in China
Eni and Algerian Sonatrach have announced a further discovery in the Sif Fatima II concession, located in the North Berkine basin in the Algerian desert. During the production test, the Rhourde Oulad Djemaa Ouest-1 exploration well, in the Sif Fatima II exploration perimeter, produced 1.300 barrels/day of oil.
Enel, following the conclusion of the buyback program linked to the long-term incentive plan, held a total of 20 treasury shares as at 7.589.152 July, equal to 0,074647% of the share capital.
Snam and Edison have signed a Memorandum of Understanding (MoU) with the aim of collaborating in the development of the "small-scale" LNG market in Italy to promote the decarbonisation of land, sea and rail transport, as well as off-grid industrial and civil users.
Brembo and Gold Phoenix have signed an equal joint venture agreement which provides for the formation of Shandong BRGP Friction Technology Co, a company based in Jinan, the capital of the province of Shandong, in eastern China, which will give life to the first Brembo production plant completely dedicated to mass production scale of brake pads for the aftermarket. The operation envisages a total investment of around 35 million euros by the two companies over the next 3 years.
New in Unicredit: the bank entrusts Stefano Chiarlone with the role of head of finance Italy in place of Simone Marcucci, while the head of wealth management and private banking for Italy Stefano Vecchi leaves the group.
Understanding, in the period from 18 July to 22 July, purchased a total of 92 million shares, equal to approximately 0,46% of the share capital, at an average purchase price per share of 1,6843 euro, for a total of approximately 155 million euros. Since the launch of the programme, Intesa Sanpaolo has purchased a total of shares, equal to approximately 1,19% of the share capital.
