(Il Sole 24 Ore Radiocor) – I’m losing momentum European stock exchanges in a volatile session, with the close of the month and the quarter that will see portfolio adjustments in the foreground. Signals of stabilization are coming from the US, where a general agreement has been reached to avoid it shutdown (the vote is expected in the next few hours). Wall Street is positive, even if Treasury yields are rising again (10-year yields are again close to 1.54%) and the dollar is still running after hitting 18-month highs against the yen and over a year against the euro.
At Piazza Affari the FTSE MIB has changed direction several times, together with the CAC 40 of Paris, the Spanish IBEX 35 and the DAX 30 in Frankfurt. During the night, however, Asia moved in contrast, between the energy crisis that continues to cause concern and some Chinese data that continue to show a slowdown in the recovery.
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Wall Street up
The data on weekly unemployment benefits in the United States are disappointing, but the final reading of the second quarter GDP improves (+ 6.7%). Wall Street has started positively with investors optimistic that shutdown will be avoided. Furthermore, the worst-than-expected labor market data removes – at least a little – fears about Fed tapering. the first time they applied for unemployment benefits, in the week ending September 25, it increased by 11,000 to 362,000, expectations were for a figure of 335,000.
On the equity front, September will be the worst month of the last year for the American indices, while the quarter will certainly close positively, the sixth consecutive, for the S&P 500. September proved to be a volatile month and the worst of the year, historically, for the indices. October, on the other hand, usually corresponds to the beginning of a positive season for titles, towards the Christmas holidays and the end of the year; last year, in October, the three largest indices accumulated solid gains
In Milan he recovers Tenaris, down Prysmian
On the Milanese stock, pharmaceuticals are doing well Recordati at the top of the list. Recover Tenaris, with purchases that are also rewarding other oil stocks. Good Davide Campari as well as utilities are positive since A2a. It is an exception though Enel which records one of the worst performances. Credit institutions move in no particular order, with Unicredit and Banca Bper in sharp decline. Mediobanca positive with the agreement between the shareholders which rose to 10% after the cancellation of Benetton. Sales hit instead Prysmian and the title remains weak after the slip on the eve of the day Telecom Italia.
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