The superindex of the American economy disappoints in August, lists in red on the day of the technical expiration of futures and options (the so-called “four witches” day, while the cases of Covid in Italy and the UK are on the rise.
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The climate of uncertainty linked to the trend of infections from Covid 19 (with the jump in cases in the United Kingdom and also in Italy the daily infections close to 2 thousand), combined with doubts about the economic recovery in the United States, penalized the share markets Europeans. The continental stock exchanges closed close to lows at the end of a volatile session, characterized by movements linked to the technical maturities of futures and options on shares and indices (the so-called “four witches”): therefore the sales already triggered on Thursday 17 by fears continued expressed by the Federal Reserve over the coming months. At Piazza Affari, the Ftse Mib lost 1.09%. For Piazza Affari the week ended with an overall decline of 1.5%. No tensions on Italian government bonds on the eve of the electoral weekend: Italians in the polls for the constitutional referendum and for the renewal of seven regional administrations.
Caution continues to dominate the scene especially after theWHO he called the situation of coronavirus infections in Europe “very serious”: 6 thousand cases in the United Kingdom, in Italy over 1900 in the last 24 hours. And investors fear new lockdowns. As for the other lists, Madrid lost over 2%, Paris over 1%.
Little move Wall Street (which closed negative with the Dow Jones at -0.88%, the Nasdaq at -1.07% and the S&P 500 at-1.12%) which has to deal with data in the dark: better than forecasts the consumer confidence, while the superindex economy measured by the Conference Board disappointed in August. The uncertainties about the recovery, the timing for vaccines against the new coronavirus and a new aid plan, with Democrats and Republicans still working to find an agreement before the presidential elections on 3 November weigh on the market trend; today, at least, a bipartisan agreement will be presented to avoid the shutdown, or the paralysis of non-essential government activities, which would otherwise be triggered in October.
In September, Americans were more optimistic about the economy than the previous month. The preliminary reading of the monthly University of Michigan confidence index was 78.9 points, up from 74.1 points in August’s final reading and from 72.8 points in last month’s preliminary reading. The US economy superindex (LEI), prepared by the private research group Conference Board, grew in August by 1.2% to 106.5 points, after + 1.4% in July and + 2% in June; previously recorded a record drop in March (-7.4%) and a sharp decline in April (-6.3%) due to the new coronavirus pandemic. Expectations were for a 1.4% rise.
In Piazza Affari, Diasorin shot, bad banks and industrialists. Another slip for Tim (-2.3%): the black September continues for the telecommunications company (-11%).