MILANO – 12:30 pm. The European markets are moving lower, after the second day of passion on the Chinese lists where investors are wondering what will be the next sector subject to the authoritarian squeeze of Beijing, after tech and private education.
Milano mends part of the losses and by mid-day it goes down to -0.6%, in line with the other European markets: London yields 0.5%, Frankfurt 0.55% e Paris 0.4%.
This morning, trade in Asia was as mixed as on the eve: positive Tokyo, Hong Kong and the Chinese squares in great difficulty. As reported Bloomberg, the Nasdaq Golden Dragon China Index – which summarizes the performance of the 98 largest Chinese companies listed in the United States, marked its worst two-day decline since 2008, due to Xi Jinping’s tightening on the economy. At the end of the session the price list in Hong Kong ended down 4.2%, while Shanghai lost 2.49% e Shenzhen it is back by 3.33%. The situation is different for the Tokyo Stock Exchange where the Nikkei closed in positive 0.49%, while not managing to break through the threshold of 28 thousand points.
US futures are flat ahead of Big Tech’s entry into the hot phase of the quarterly season, which features Apple, Microsoft and Google tonight. Tesla hit record numbers yesterday and Wall Street itself managed, after a weak day, to bring the Dow Jones to a new all-time high. The support of corporate accounts is important: so far 88% of the companies belonging to the S&P 500 that have already published the results have exceeded analysts’ expectations.
Also for Business Square, on the other hand, the publication of the interim financial statements will come alive: Italgas announced an adjusted half-year profit attributable to the group of 176.1 million euros, up 14.1% compared to the same period last year. Revenues amounted to € 665.4 million (+ 2.9%). Of note are the accounts of Campari, which in the half year exceeded 1 billion in revenues. Another case of the day on the Milanese list is the return of Carige trading, which is however very difficult and the stock fails to make a price.
Basically stable opening for the spread between ten-year Italian BTPs and German Bunds of equal duration. The differential between the two government bonds fluctuates around 104 basis points. Little movement even for theeuro on the foreign exchange market. The single currency, after yesterday’s rises, declined slightly against the dollar, filing 0.01% but holding 1.1802 greenbacks. The pound continues to appreciate, gaining 0.08% at $ 1.3826, while the euro loses 0.04% against the British currency at 0.8534.
Worthy of note is the rapid reverse for Bitcoin, which after having caressed 40 thousand dollars has plunged back into the 37 thousand area due to the braking of Amazon on the interest in cryptocurrencies: the rise in prices had in fact found fuel in the opening, by the tech company, of a job position for an expert in crypto and blockchain. It seemed to confirm the rumors that the e-commerce giant wants to develop this type of business, but a spokesperson has finally denied that it is starting to accept the tokens for payment. And so the Bitcoin it went down by more than 3.5 percentage points, bringing other younger sisters like Ether with it.
Among the macroeconomic data of the day, Istat reports the return to a slight expansion ofexport extra-Ue: + 0.1% in June. Imports grew more markedly, up by 1.2%, for a balance in any case improving to 4.8 billion.
Finally the Petrolium: after a slight rise in the first part of the day, it turns down following a weak opening of the main European markets, which testifies to fears about the consistency of the recovery and doubts about the assets most linked to the economic cycle. WTI loses 0.38% to $ 71.64 a barrel, while Brent loses 0.16% to $ 74.38 a barrel.
.