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Keep an eye out for US employment data for August – to be released at 2.30pm. Italian analysts expect the unemployment rate to fall further to 9.8% (from 10.2% in July and 11.1% in June). The euro remains below $ 1.19. Spread in the 150 point area
3 ‘reading
In the last session of the week, the European stocks travel in positive territory, after a minor start. The falls in Asian markets and the Wall Street crash (Dow Jones -2.8%, the worst decline since June, S&P 500 -3.5% and Nasdaq -5%), caused by the technology retreat, which put I failed the previous rallies. Piazza Affari is among the best with a profit of around one percentage point, backed by the banks. London, Madrid, Paris and Frankfurt were also positive following the 2.8% increase in manufacturing orders in July.
Investors focus on the crucial August employment figure in the US: It will be released at 2.30pm Italian time, and analysts expect the unemployment rate to fall further to 9.8% (from 10.2% for July and 11.1% for June). ) with 1.32 million jobs recovered, less than in previous months (+1.76 million in July and +4.76 million in June).
Amplifon accelerates in the Ftse Mib, in the Exor queue after the accounts
At the top of the Ftse Mib are Amplifon, after Jefferies raised its valuation from “hold” to “buy” with a target price of 34 euros per share, and Banco Bpm, on a positive day for banks across the Vecchio. . Continent. Among the worst Exors, following the accounts, which revealed a loss of 1,318 million euros for the first half of the year. Atlantia is in good shape, recovering part of the declines of the previous day, while utilities are weak and Stmicroelectronics, which is still affected by the sudden slowdown in technology, however limiting the declines after the previous -7% approximately .
Outside of the Ftse Mib, Mediaset continues to work
Mediaset continues to run, returning to June values, after the EU Court ruled that Agcom’s decision, derived from the Gasparri law that prevents Vivendi from acquiring 28% of Mediaset, is contrary to European law. The market is now waiting for Biscione to come to the negotiating table with the French to resolve a years-long dispute. Furthermore, Mediaset highlighted that if the convergence ties between Tlc and the media fall, it will evaluate all the opportunities in the Tlc sector, starting with the definition of the single network. “The target, therefore, could be Tim, but it is unclear how a convergence between the two companies can be achieved or if the idea is to create an integrated business,” write the Equita analysts.
Extends downward, but above 150 points
Slight drop in the BTp / Bund spread in the secondary market for MTS public debt. The yield differential between the 10-year Italian benchmark December 2030 (IT0005413171) and the Bund of the same duration stood at 151 basis points, from 153 points in the previous final. The 10-year benchmark BTp yield also fell to 1.04%, which was 1.06% at the close yesterday.
Crude oil, euro stabilizes below $ 1.19
Oil is weak, even if trading is limited at the moment: October WTI futures fell 0.65% to $ 41.1 a barrel, November Brent futures 0.64% to 43.79 Dollars. As for the currency, the euro slows down and changes hands at $ 1.1842 (1.1813 at the previous close). Earlier in the week, the single currency had risen above the threshold of $ 1.20, the highest in 28 months, and subsequently followed suit. The euro is also worth 125.71 yen (125.85 the previous close), while the dollar / yen stands at 106.158.
