Stock market: Europe cautious, US inflation expectations, Milan + 0.4%

Scrapping does not hit targets, collections stopped at 18 billion (ANSA)

(ANSA) – MILAN, AUGUST 10 – The main European stock exchanges are moving with caution, awaiting data on US inflation in the afternoon, while there were no surprises from Germany and Italy. Milan (Ftse Mib + 0.45%) is the best, followed by Frankfurt (+ 0.26%) and Madrid (+ 0.1%) and Paris (+ 0.08%).

London unchanged, futures on US markets are positive. The differential between 10-year German BTPs and German Bunds settled at 211.2 points, with the Italian annual yield down by 1.6 points to 3%.

Sales are concentrated on semiconductor manufacturers Nordic (-1.85%), Asml (-0.77%) and Soitec (-1.04%), while Ams-Osram (+ 1%) and Stm (+0) rebound , 75%), heavy on the eve. Contrasting the cars Renault (+ 0.98%), Stellantis (+ 0.37%) and Volvo (-0.65%). In the oil field, TotalEnergies (+ 0.53%), Eni (+ 0.5%), Shell (+ 0.43%) and Bp (+ 0.3%) hold despite the drop in crude oil (Wti -0.46 % to $ 90 per barrel). Little moved also the utilities Enel (+ 0.48%) and Edf (+ 0.17%), which requested damages for 8.3 billion from the French state, the main shareholder of the group with 83.69%, for having it forced to increase the share of energy at a controlled price last spring. The tensions between China and Taiwan and the restrictions for Covid in Hong Kong are holding back the luxury sector, from Moncler (-1.17%) to Lpp (-1.59%), from Adidas (-1.11%) to Swatch (-0.72%), from Kering (-0.7%) to Richemont (-0.58%).

Banks contrasted, with increases for Bper (+ 2.43%), Unicredit (+ 0.82%) and Intesa (+ 0.47%) and sales on Commerzbank (-0.64%), Bankinter (-0, 78%) and Hsbc (-0.52%). (HANDLE).

Source: Ansa

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