MILANO – The European stock exchanges all closed up in the last session of the week with the markets always looking towards the US economy. The most anticipated data of the day came from the US Department of Labor and in some way, while disappointing expectations, it reassured the markets: in May the economy created 559,000 new jobs, a figure lower than the Bloomberg consensus estimates that foresaw 674,000 new posts. The unemployment rate is still down, down to 5.8%.
Yesterday, the ADP report on the labor market and the new weekly requests for subsidies offered a very encouraging picture on the pace of the American recovery, but investors have already begun to read this data for some time, even with a hint of concern. The fear is that a too strong restart could overheat inflation, prompting the Fed to reduce monetary stimulus, a scenario that it is hoped to avoid. Today new employment data will arrive from the Department of Labor for the month of May with an expectation of the month just ended.
In Europe Milano salt of 0.46%, London it 0.05%, Paris advances by 0.12% e Frankfurt 0.39%. The rise of Saipem stands out in Piazza Affari, which it announced today an acquisition in the offshore wind sector. The Asian side was weak, Tokyo also closed with a minus sign, down by 0.4%. The US stock market closes the last session of the week with a good rise, in the wake of the job data in the United States: the Dow Jones rises by 0.52%, the Nasdaq by 1.47%, the S&P by 0.6 %.
Among currencies, theeuro opens down below $ 1.22 and changes hands at $ 1.2170. . The dollar / yen exchange rate is at 109.244. Stable it spread between BTP and Bund. The spread marks 108 points, in line with yesterday’s close, with the yield being 0.89%. Accelerate the Petroleum on Wall Street: in New York the WTI rises by 1.16% to 69.61 dollars a barrel, and flies to the highest levels since 2018.
And in the evening, Fitch’s verdict on Italy arrived. The agency confirmed the rating at BBB- with a stable outlook. Fitch expects GDP to grow by 4.8% for Italy in 2021, supported by a “strong recovery in the second half of the year”. For 2022, the GDP is estimated at + 4.3%.