The BoE does not stop the rally of the European lists, but Piazza Affari closes on the lows (+ 0.3%)

(Il Sole 24 Ore Radiocor) – The gloomy predictions of the BoE on the UK economy, follow upwards taxi highest in 27 years, combined with the decline in raw due to doubts about the stability of global energy demand, they do not stop the rally in European stock exchanges which closed in positive territory, albeit far from the highs of the day. To push the price lists, as in the last sessions, are the quarterly above the expectations of many big European companies, from the Lufthansa company to the French bank Credit Agricole, which manage to curb fears of the recession. However, there is a warning to investors ECB, which explains how economic activity in the euro area is slowing down and Ukraine’s aggression represents a persistent brake on growth. In this climate, in Piazza Affari the FTSE MIB closed in positive territory, after reaching over 1%. The CAC 40 of Paris, on DAX 40 in Frankfurt, theIBEX 35 of Madrid and the FT-SE 100 of London, the only one behind AEX of Amsterdam.

Wall Street weak after the highs of the eve

Weak Wall Street (Dow -0.26%, S&P 5oo -0.08%, Nasdaq +0.415), after the positive session on the eve. Now behind the visit to Taiwan of the speaker of the US House, Nancy Pelosi, who created tensions with China and on the markets, investors are focusing on macroeconomic and quarterly data. The deficit of the trade balance it fell by 6.2% in June, more than forecast by experts. The ISM services, the index that measures the performance of the service sector in the United States, rose in July from 55.3 to 56.7, against expectations for a decrease to 54. The SME services index, drawn up by Markit, is instead it dropped from 52.7 in June to 47.3 points (expectations were for a figure of 47 points). The president of the Fed of St. Louis, James Bullard, said he did not believe the United States was in a recession, citing the strong labor market and low unemployment.

In Milan it is quarterly focuses, DiaSorin stands out. Down Tim

At the top of the main price list, pharmaceuticals with Diasorin, Prysmian And Mediolanum Bank with the upward revision of estimates by analysts after the accounts. On the roller coaster Tenaris, among the best of the morning, when it came to gain over 4%, and then closed with a final “red” in the wake of the weakness of crude oil. Below Saipem And Telecom Italia whose accounts have not warmed the market. Bad in the aftermath of the semester Banco Bpm. Outside the Ftse Mib, Bank Mps after the agreement with the unions on 3,500 exits by November, while Tod’s it remains above the price of the Della Valle takeover bid.

In the US, unemployment benefits in line with estimates

In the United States, the number of workers who applied for unemployment benefits for the first time in the week ending July 30, increased by 6,000 to 260,000, according to the Department of Labor. to 260 thousand). In the midst of pandemic, the United States had recorded a maximum of 6.9 million new requests per week. The average of the last 4 weeks is 254,750, an increase of 6 thousand units from the average of the previous octave.

BTP / Bund spread trend

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Spread closes stable at 214 points, yield at 2.94%

Positive session for the entire sector of eurozone sovereign bonds traded on the electronic secondary MTS. The appreciation of the prices led to a generalized decline in yields. The BTp has moved hand in hand with the Bund and the spread remained virtually unchanged. In closing, therefore, the yield differential between the ten-year benchmark BTp and the same German maturity is confirmed at 214 basis points, the same level as the start and slightly down compared to the closing on the eve (216 points). The appreciation of the prices brought down the yield of the Italian benchmark share: from 3% this morning to 2.94% at the close (3.03% the reference of 3 August).

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The BoE does not stop the rally of the European lists, but Piazza Affari closes on the lows (+ 0.3%)

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