Dufry works between accounts and advances the Autogrill integration process
Dufry shines in Zurich, thanks to a sharp recovery in the first half of the year, particularly in revenue, and while the merger with Autogrill announced a month ago “is going as expected”. The group, which operates 2,300 duty-free or duty-paid stores in airports, terminals and ships in 66 countries, recorded sales of 2.92 billion francs in the first half of the year, thanks to a recovery in global tourism, more than doubling compared to 1.2 billion in the same year. The period from 2021, with operating profit of 152 million compared to a loss of 368.5 million last year and a net loss of 17.6 million (after a financial result -129.5 million), against the red 499.2 million in 2021.
Volatile oil: WTI yields above $91
The petroleum, the protagonist of the last session’s slight rebound from February lows, returns after a morning of pullback: Brent’s maturity in October is trading at $97.7 a barrel, and WTI in September is trading at $91.7 a barrel. campaign on natural gas On the Dutch platform TTF: The September contract is still trading at over €190 per MWh.
The euro is strengthening against the dollar
The single European currency was boosted against the US dollar on the eve of US consumer price data that could have an impact on the Fed’s upcoming decisions in September: the Euro-dollar touch of 1.0250. Sterling gains after Bank of England Deputy Governor Dave Ramsden opened further interest rate increases to counter inflation.
BTp, stable spread but above 210 pips
The BTp/Bund Spread , is moving slightly but still above 200 basis points. The yield differential between the ten-year BTp benchmark (Isin IT0005494239) and the same German maturity stands at 214 basis points, up from 213 on the eve of the previous year. On the other hand, the benchmark ten-year BTp yield rose to 3.07% from the previous 3.03%. In the first weekly session, the yield differential ruled out the aggravation of the Italian public debt scenario predicted by rating agency Moody’s (after Standard & Poor’s Global).
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