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Stock market: Europe up, US futures positive, Milan + 1.5%

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(ANSA) – MILAN, JUL 15 – The main European stock exchanges are confirmed positive after 3 hours of trading. Frankfurt (+ 1.71%) and Milan (+ 1.5%) are the best, followed by London and Madrid (+ 1.05% both), while Paris lags behind (+ 0.73%).

US futures were positive in view of retail sales, the New York State manufacturing index and industrial and manufacturing production in June. The slowdown of the economy in China due to Covid weighs (GDP + 0.4% in the second quarter against the expected + 1%). The differential between German BTPs and Bunds remained stable at 213.3 points, with the Italian annual yield growing by 1.7 points to 3.253% after referral to the Chambers of the confidence in the Draghi Government.

Crude oil slightly moved (Wti + 0.28% to 96.05 dollars per barrel), still below 100 dollars, widens the decline in gas (-2.82% to 170 euros per MWh in Amsterdam), weak metals with the decline in demand in China. Copper lost 2.12% to $ 7,170 a ton, iron 7.32% to $ 664.5 a ton and steel 4.24% to $ 3,704 a ton. The euro rose to 1.0043 dollars, while the pound remained stable at 1.183 dollars.

The cars are Renault (+ 5.84%), Volvo (+ 5.66%), Volkswagen (+ 3.63%) and Stellantis (+ 2.8%) after the data on car sales in Italy, France and Germany, which also favor Pirelli (+ 4.15%) and Continental (+ 4.08%).

With China, Richemont (-5.29%) and Burberry (-6%) suffer from the best-than-estimated quarterly figures. Moncler was also down (-2.39%), while semiconductor manufacturers asm-Osram (+ 5.46%), Asm (+ 4.44%) and Stm (+ 2.27%) rose. TotalEnergies (+ 2.54%), Bp (+ 2.4%), Shell (+ 2.21%) and Eni (+ 0.98%) did well, down Saipem (-23.6.58%) after the capital increase.

Purchases on bank banks Sabadell (+ 2.84%), CaixaBank (+ 2.88%), NatWest (+ 2.37%), Banco Bpm (+ 1.94%), Intesa (+ 1.84%) and Commerzbank (+ 1.22%). (HANDLE).

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Source: Ansa

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