Stock markets, Europe is traveling with momentum. Piazza Avary is still in the mark of a quarter

Stock markets, Europe is traveling with momentum.  Piazza Avary is still in the mark of a quarter

(Il Sole 24 Ore Radiocor) – The European stock exchanges, in the last session of the week, they reached their highest levels today, driven by the GDP data for the eurozone (+0.7% in the quarter and +4% in the year) and various countries, including Italy, which saw an acceleration to +1% in the quarter second and 4.6% annually. On the other hand, inflation in our country fell to 7.9% in July, from the record +8% in June, with the decline in energy goods. All items that do that Hope for the continuity of the continental economywhich has been severely tested by the pandemic, energy crisis and conflict in Ukraine, especially after The United States has entered a technical recession.
OK then CAC 40 In Paris, after the best estimate of GDP in the second quarter (+0.5%, after -0.2% in the first three months of the year), and DAX 40 Frankfurt and FT-SE 100 London, andibex 35 Madrid andAEX Amsterdam. As before on ThursdayPiazza Avary (FTSE MIB) hits the accelerator and is in the front line among the continental benchmarks, also driven by a string of quarterly reports that beat expectations. Wall Street futures are also positive.

Italy’s GDP accelerates in the second quarter

In the second quarter of 2022, Istat estimates that GDP, expressed in chain-linked values ​​with the 2015 reference year, adjusted for calendar effects and seasonally adjusted, is By 1% compared to the previous quarter and 4.6% in terms of trend. This can be read in the preliminary estimate issued by the Institute of Statistics. In the first quarter of the year, the GDP recorded an increase of +0.1 percent.

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Wall Street Positive Futures, Inflation Still High

Wall Street futures rose, boosted by positive quarterly results for two of the largest stocks in the market: Amazon and Apple. The energy sector also witnessed a rise, after the positive quarterly results of the oil giants in the United States. With nearly half of the companies reporting earnings, the Standard & Poor’s 500 posted an overall earnings growth rate of 7.6%, with 76% of companies beating analyst expectations, according to Refinitiv. Market optimism continued even though yesterday’s first reading of Q2 GDP showed the US economy contracting 0.9% after declining 1.6% during the first quarter. The second straight contraction that economists have called a technical recession. On the macro front, US inflation saw a slight rise in the “core” figure, the most closely watched, in June compared to May. The measure the Fed prefers to calculate, the PCE (Personal Consumption Expenditure Price Index) number grew 1% m/m and 6.8% y/y, versus expectations of +0.7% and +6.4% after +0.6% and +6.3% in May . In addition, in the United States, the labor cost in the second quarter rose by 1.3%, more than expectations of +1.1%. Finally, personal income registered a 0.6% increase in June, a slight increase compared to the 21.1% jump recorded in March. Analysts had expected a 0.5 percent increase. Consumer spending grew 1.1%, more than analysts’ expectations, who had expected a 0.9% increase.

Quarterly champions, at a fast pace Eni

In Milan, the accounts of big companies are still champions: where are you Net profit saw a jump to 3.8 billion in the quarter and 7.4 billion in the six months, while we build It returned to profit with a profit of 64 million. also Mediobanca And the A2a They go up after the bills, while Nixie Slips. the worst is Leonardo – Finmeccanica, where analysts, while talking about results in line with expectations, remained lukewarm due to the lack of positive surprises and order guidance unchanged despite the presence of a major contract in Poland. keep running Moncler, yielding +8% of the night on the heels of the calculations. In general, the automotive and banking sector is also doing well.

It spread down, but still above 240 points

Downtrend in the spread between BTp and Bund above all thanks to the rally in the German 10-year yield which fell yesterday to its lowest level in three months. The yield differential between the ten-year BTp benchmark (Isin IT0005436693) and the same German maturity is indicated at 241 basis points, from 245 bps on the eve, while the Italian ten-year yield is stable at 3.25%.

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