A vaccine in Russia, new funds for the Covid emergency in the US. But also the German Zew index beyond expectations and an improvement in relations between the US and China with representatives from Beijing ready to collaborate to dissolve the tensions. This, in a nutshell, is the poker that is making the stock markets fly. Today. Yes, because as recent events have taught us, the market trend is strictly correlated to many exogenous events that are not always predictable. Such as the tycoon’s attitude. However, for the moment, there is optimism. And the Goldman Sachs report on the revised estimates for 2021 is also helping.
The Goldman Sachs report
Specifically, for the next 12 months, the US investment bank has forecast a recovery in profits for the S&P 500 index. In addition, a recovery of the stars and stripes economy. Some shadow persists in the immediate future, a shadow that materializes in the difficult passage of the various projects for the support measures already in Congress. Things will get better, however, should a vaccine arrive which, unlike the one announced by Moscow and which apparently beat US colleagues, should have US authorship. In fact, it could be this vaccine that will restore confidence to the markets and breath to the economy.
What is happening on the markets
The performance of the equity markets fully reflects what has been said. The poker that is making the stock exchanges fly, in fact, allows Piazza Affari to register, no later than 13.50, an asset equal to 3% in positive territory. On the shields there are stocks such as Mediobanca and a bit of the entire auto sector. In this case, in fact, the sales figures in China in July (+ 7.9%) allow us to have a more optimistic approach. As for Mediobanca’s rally, its + 5% on the Ftse Mib can be explained by a possible ECB ok to Del Vecchio’s Delfin.
What to buy in Piazza Affari
Starting from this premise, the first buy in Piazza Affari concerns Mediobanca, a buy by Equita with a target price set at 9 euros. But it is not the only noteworthy buy on the Italian market. In fact, Mediobanca itself recommends as outperform securities such as Digital Value with a target price of 36 euros but also Iren (2.90 euros), Telecom Italia (MIL:TIT) (€ 0.68), Enel (€ 8.60).
The situation on Wall Street
Wall Street starts off on the same footing as Europe and at 2.30pm exploits an S & P500 at + 0.56% while the Dow Jones marks 1.12%. The Nasdaq does not go beyond a -0.08%.
The most important events in the macroeconomic calendar
At fixed times you can consult the economic calendar to read the outcome of the published macroeconomic data. As far as macro data is concerned, as mentioned, the German Zew index is surprising, jumping over 71 points reaching 71.5 against a previous one of 59.3.
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