Piazza Affari in red, the spread is also bad. FTSE MIB -1.4%.
The FTSE MIB scores -1.4%, the FTSE Italia All-Share -1.4%, the FTSE Italia Mid Cap -1.3%, the FTSE Italia STAR -0.7%.
BTP and spread worsening. The 10-year yield marks 1.11% (previous closing at 1.03%), the spread on the Bund 150 bp (from 147) (MTS data).
Negative European equity markets: * EURO STOXX 50 -1.0%, FTSE 100 -1.3%, DAX -0.9%, CAC 40 -1.3%, IBEX 35 -1.5%.
US stock index futures below par: S&P 500 -0.2%, NASDAQ 100 -0.1%, Dow Jones Industrial -0.3%. The closures of the main US indices in the previous session: S&P 500 -0.20%, NASDAQ Composite + 0.27%, Dow Jones Industrial -0.29%.
Japanese stock market slightly higher, Nikkei 225 finished + 0.17%. * Chinese stock exchanges overall positive: the CSI 300 index in Shanghai and Shenzhen closed at + 1.49%, the Hang Seng in Hong Kong is currently around -0.2%.
Atlantia -2.6% loses ground after Prime Minister Conte’s interview with La Stampa: in order to sign the agreements on the revision of the concession and on the structure of Autostrade per l’Italia, many details still remain to be defined and in any case the agreements are not they will provide for the waiver to take action against the company in the event of any “serious non-compliance or unforgivable negligence”. MF reports what was declared by sources involved in the negotiations, that is that agreements that respect all the requests of the parties involved are in fact impossible: it follows that someone will have to take a step back. The sources add that a minimum basis for the agreements is represented by the go-ahead from the Ministry of Infrastructure and Transport to the new (reduced) motorway tariff plan developed by Atlantia-AspI.
Oil retreating, crude oil slips to lows since last Wednesday. The October Brent future marks $ 44.75 / barrel, the September WTI future marks $ 42.00 / barrel. Eni -1.3%, Tenaris -0.9%, Saipem -2.8%.
Banking in physiological decline after the progress of recent weeks: the FTSE Italia Banks index marks -1.7%. In the red Banco BPM -3.1%, FinecoBank -2.0%, Intesa Sanpaolo -1.7%
Industrialists also lost ground: Leonardo -2.4%, Pirelli -1.8%, Buzzi Unicem -1.6%.
The macroeconomic events scheduled for today: at 11:00 GDP 2nd Q2 estimate, employment and trade balance in the eurozone. In the USA at 2.30 pm labor cost and productivity indices, retail sales, at 3.15 pm industrial production, at 4.00 pm * company inventories and consumer confidence index (Univ. Michigan).
(Simone Ferradini – www.ftaonline.com)
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