(Telestock) – Cautious day for European stock marketswith Piazza Affari positioned above parity. takes a large lead over the rest of Europe. Milan is dragged by Saipem (Qatar $4bn Offshore EPC Contract), UniCredit (CEO Andrea Orcel said a merger with Commerzbank would create value for all stakeholders), General (promotion at Buy from Jefferies) And Unipol (promotion to Outperform from Mediobanca).
On the macroeconomic front, it emerged over the weekend that China’s economy slowed more than expected in Augustwith weak demand continuing to weigh on production, investment and consumption. This morning, Istat reported that in August 2024 inflation increased by 0.2% on a monthly basis and by 1.1% on an annual basis (from +1.3% in the previous month), confirming the preliminary estimate.
With the ECB meeting behind us and the Fed meeting awaiting, markets remain hawkish on both the pace and breadth of futures.
cuts by major central banks.
Slight increase for theEuro / US Dollarwhich shows an increase of 0.26%. TheGold continues the session at the levels of the day before, reporting a variation of +0.19%. The oil market is substantially stable, continuing the session at the levels of the day before with the petrolium (Light Sweet Crude Oil) which is trading at $69.29 per barrel.
On equality it spreadwhich remains at +132 basis points, with the 10-year BTP yield which stands at 3.44%.
Among the main European stock exchanges weak Frankfurtwhich shows a small decrease of 0.32%, little moved Londonwhich shows a -0.05%, and substantially unchanged Pariswhich reports a moderate +0.07%.
Piazza Affari continues the session with a fractional gain on FTSE MIB of 0.28%; along the same lines, a small leap forward for the FTSE Italia All-Sharewhich reaches 35,782 points. Without direction the FTSE Italia Mid Cap (-0.17%); below parity the FTSE Italia Starwhich shows a decrease of 0.38%.
Among the best Blue Chips of Piazza Affari, toned Saipem which shows a nice advantage of 3.06%. In light Generali Insurancewith a large increase of 1.83%. Positive trend for Unicreditwhich is advancing by a decent +1.75%. Well bought Unipolwhich marks a strong increase of 1.53%.
The worst performances, however, are recorded on Interpumpwhich gets -1.03%. Modest drop for Telecom Italiawhich gives up a small -0.89%. Pensive STMicroelectronicswith a fractional decline of 0.78%. He wavers Azimuthwith a modest decrease of 0.77%.
At the top among Italian stocks mid cap, From Friend (+2.38%), El.En (+1.69%), Digital Value (+1.62%) and OVS (+1.17%).
The worst performances, however, are recorded on Ferrettiwhich gets -1.89%. Sales on Replywhich recorded a decline of 1.60%. A slow day for Pharmanutrawhich marks a drop of 1.33%. Small loss for De’Longhiwhich trades at -1.24%.