The European stock exchanges they are hunting for a recovery after the thud on the eve caused by fears that the Delta variant of the coronavirus could weaken the world economic recovery, the same fears that have sent Wall Street too ‘red’. The markets also seem to have largely digested the move by the ECB, which made the 2% inflation target more flexible. While the spread remains at the levels it rose on the eve (at 107 points), the FTSE MIB di Piazza Affari is among the best in the Old Continent and is led by banks, in particular by Unicredit and yes Banco Bpm at the center of attention for the theme aggregations. It also runs Paris driven by Airbus. The rebound has already materialized a Hong Kong, after the drops linked to the Chinese crackdown on high-tech stocks, while the rest of the Asian markets have lost share, starting from Tokyo (-0.6%) where the decision of the new state of emergency to close the Olympics weighs to the public.
Inflation data in China make the markets nervous (1.1% in June compared to 1.3% in May but also 8.8% in producer prices from 9% previously) which, although below expectations , show how the pressures on prices remain high, with doubts about the real speed of the recovery in Beijing. Meanwhile, vaccination campaigns continue, with Pfizer asking for authorization from the US authorities for the ok to distribute a third booster dose.
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Moncler in evidence in Milan, Recordati is looking for the new ad
In Piazza Affari the rebound is generalized but among the best – in addition to the banks – there are Moncler e Recordati. The pharmaceutical group is undergoing a reorganization at the top with the identification of the new CEO: the current one, Andrea Recordati, will become president in place of Alfredo Altavilla. Also good nexli looking to acquisitions in Greece. Sale Diasorin which has obtained all the necessary authorizations to complete the acquisition of Luminex. Limited ascent of Telecom Italia, among the most penalized in recent days: Equita analysts lower the recommendation on the stock to “hold”.
The thud triggered by variants and Fed
The day of 8 July was of great tension on the world stock exchanges, with Wall Street closing with Dow Jones at -0.76%, Nasdaq at -0.72% and S&P at -0.85%, reflecting a decline however, more contained than that of European markets, thanks to the performance of the big tech companies that stemmed the losses. In fact, the day in the Old Continent ended with losses of 2.5% for Piazza Affari (black jersey) and significant losses also for Madrid (-2.3%), Paris (-2%) and Frankfurt (-1.8%) ).
