(Il Sole 24 Ore Radiocor) – The European stock exchanges start the month of August on the right foot, after finishing in red the last week of July. Overall, the world stock exchanges with July closed the longest positive streak since 2018, but the last month recorded the most modest progress in the six months of increases. They are therefore all up on the FTSE MIB of Milan, the CAC 40 of Paris, on DAX 30 in Frankfurt, the Ftse 100 in London, theIBEX 35 of Madrid andAEX in Amsterdam.
The purchases have already supported Asian stock exchanges, while in China, investors are evaluating the possibility of further easing of monetary policy in the face of Beijing’s recent tightening on numerous sectors of activity, from technology to private education. The market also closely monitors the progress of the US $ 550 billion infrastructure plan towards passage in the Senate. In Australia, moreover, the list was driven by the jump of Afterpay (+ 19%), after the announcement of the acquisition by the digital payments group Square.
Anyway, the slip on Monday 19 July has left a sense of fragility to investors, who always wait for the autumn before buying hands down, to understand how the pandemic will go and what the American central bank will do, which for now has postponed the reduction of the expansionary policy.
In light of Cnh and St, Unicredit still in the spotlight
In Piazza Affari, among the highest capitalization stocks they stand out Tenaris, Industrial Name e Stmicroelectron, already among the protagonists in the previous octave after the best quarterly forecasts. Still in progress Unicredit, thanks to the half-yearly accounts and the announcement of negotiations with the Treasury for the purchase of selected assets of Bank Mps. In an all-bullish main basket, defensive stocks such as Snam Rete Gas, Terna e Italgas.
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Spread up in the area 108 points
Upward trend for the spread between BTp and Bund on the MTS secondary market for government bonds. The yield differential between the Italian benchmark ten-year BTp (IT0005436693) and the same German duration is indicated at 108 basis points, up by 2 basis points compared to the closing on Friday. On the other hand, the yield of the benchmark ten-year BTp was stable, standing at 0.63%, the same level recorded at the close of last Friday.
Euro strengthens, oil decreases
On the foreign exchange market, the euro strengthened to 1.1882 dollars from 1.1868 on Friday at the end. The single currency is also worth 130.33 yen (130.39), while the dollar / yen ratio is at 109.69 (109.72).
The price of oil is falling, given that the possible slowdown in Chinese growth raises concerns about the stability of the global energy demand. The September WTI future loses 0.95% to $ 73.25 a barrel, while the October Brent delivery loses 0.98% to $ 74.67.
