Positive European stock markets in the last session of the week, marked by the slowdown of the economy in China due to Covid (GDP + 0.4% in the second quarter against an expected rise of 1%). Milan, Madrid and Frankfurt (+ 1.13% all) are the best, followed by London (+ 0.64%) and Paris (+ 0.36%). The differential between German BTPs and Bunds fell to 212.9 points, with the Italian annual yield losing 0.5 basis points to 3.232%. US futures were positive in view of retail sales, the New York State manufacturing index and industrial and manufacturing production in June.
Crude oil has changed little (Wti + 0.06% to 95.85 dollars per barrel), gas reduces the decline (-0.45% to 174.25 euros per MWh in Amsterdam), while metals remain weak starting from from iron (-7.32% to 664.5 dollars a ton) and from steel (-4.24% to 3,704 dollars a ton) due to the drop in demand in China. The euro improves, which exceeds the dollar by 0.32 cents with respect to the parity reached.
Positive were the automakers Volvo (+ 2.18%), Renault (+ 2.12%), BMW (+ 1.7%) and Stellantis (+ 1.6%) after the data on car sales in Italy, France and Germany, while the Chinese GDP data sinks the luxury sector, from Burberry (-5.34%) to Richemont (-4.58%) and Moncler (-2.16%) in the Piazza Affari. On the other hand, semiconductor manufacturers Be (+ 3.69%), Asml (+ 3.05%) and Stm (+ 2.08%) run. Purchases of oil TotalEnergies (+ 1.7%), Bp (+ 1.54%), Shell (+ 1.34%) and Eni (+ 0.77%), while Saipem (-23.61%) slips again after the successful conclusion of the € 2 billion capital increase.
Positive were the banks Intesa (+ 2.95%), CaixaBank (+ 2.64%), Sabadell (+ 2.6%), Banco Bpm (+2.51%), NatWest (+ 2.42%), Santander (+ 1.84%), Commerzbank (+ 1.64%) and Unicredit (+ 1.58%).
Source: Ansa
I have been working in the news industry for over 10 years now and I have worked for some of the biggest news websites in the world. My focus has always been on entertainment news, but I also cover a range of other topics. I am currently an author at Global happenings and I love writing about all things pop-culture related.
