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Trend stock markets await EU inflation.  In Milan down banks, technology and cars

Trend stock markets await EU inflation. In Milan down banks, technology and cars

(Il Sole 24 Ore Radiocor) July of the year European stock exchanges It starts at a slow pace and so does the semester that just ended. In the Old Continent, the main figure for Eurozone inflation is expected, which may register a further acceleration (analysts expect +8.5%), exacerbating fears of a possible recession and more aggressive monetary tightening by the European Central Bank than expected. In the meantime, following a session in which nightmare stagnation crushed the lists Milan closed at a 19-month lowThe FTSE MIB Retreat, as in CAC 40 Paris, dated DAX 40 in Frankfurtibex 35 Madrid FT-SE 100 London andAEX Amsterdam. That must be said PMI boost did not reduce volatility In European markets, which are moving without a specific direction awaiting key inflation data.

A nervousness comes after an early part of the year for investors to forget, with Milan losing more than 22% in the half year, while Wall Street posted its worst first half since 1970 on the S&P 500 Index. Meanwhile, on the macroeconomic front, there is conflicting data on record. : Manufacturing sentiment index, measured on a quarterly basis by the Bank of Japan (Tankan Index), shows a sharp slowdown at the end of June; Conversely, industrial production in China rebounded, beating expectations in the same month.

Manufacturing SMEs in the Eurozone at a minimum as of 2020, down in Italy

Dark and dark news from the European manufacturing sector. In Italy, the June manufacturing PMI fell from 51.9 to 50.9 points, a slightly better number than the consensus estimate (50.8) after the 51.9 figure in May. In France, it rose from 54.6 to 51.4 points, while in Germany it fell from 54.8 to 52 points, marking the weakest expansion in two years. The overall euro zone average fell from 54.6 to 52.1 points, the fifth monthly drop that brings the index to its lowest level since August 2020.

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In Milan technology and cars, Atlantia and Leonardo are saved

The high-tech sector is located on the Ftse Mib with Stmicroelectron And the Nixie. You oppose the banks following the ECB’s intention to require credit institutions to include a possible recession scenario in their business plans and use this new calculation basis to approve dividends. the worst Intesa San Paulo And the Mediolanum BankWhile Unicredit Increasing. It also goes in reverse Leonardo – Finmeccanicawhile it is slightly below average Atlantiawhich occurred on Thursday, with the markets closed, on closing in Yunex.

Spread expands to 205 pips, return of 3.43%

Negative trend of BTp circulating on electronic secondary Mts. Italian 10-year bonds are losing steam unlike other eurozone sovereigns and the spread is widening again. The yield spread between the ten-year BTp benchmark (Isin IT0005436693) and the same German maturity is indicated at 205 pips from 202 at the end of the previous day. The Italian 10-year yield indicated 3.43% from 3.39% at Thursday’s close, the lowest since the beginning of June.