(Il Sole 24 Ore Radiocor) – A plus sign for European stock exchanges, after the positive close on Wall Street, with the S&P 500 index which achieved the 42nd record close of 2021. The quarterly season, which is pushing equities up, with the accounts that often surprise positively, overshadowing the concerns about the trend of Covid-19. There Delta variant it is in fact hitting hard and so new restrictive measures are being studied in the various states. In the States, the mayor of New York, Bill de Blasio, announced that from August 16 the vaccine will be mandatory to enter gyms, bars, restaurants and to attend indoor shows.
Banks in the spotlight in Milan
In Piazza Affari, attention will be focused again on Unicredit, on the day in which the Minister of the Mef, Daniele Franco, will be heard by the Finance Committee of the Chamber and Senate to report on the situation of the negotiations with the bank in Piazza Gae Aulenti to take over the assets of Bank Mps. At the moment, however, there is no defined plan and therefore the minister will probably not go into the details of the operation. Meanwhile, rumors begin to circulate on the perimeter of the deal. The quarterly reports of heavyweights such as Intesa Sanpaolo and Bper are scheduled, while Poste Italiane has announced a group net profit in the first half of the year, up by 41.8% to 773 million.
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Quarterly in focus also in Europe: Commerzbank, the second German bank, closes the second quarter of the year with one loss of 527 million largely due to provisions of over 500 million for the restructuring plan which provides for incentivized redundancies. The first half therefore closed with a consolidated loss of € 394 million (€ 183 million in the first quarter profit).
The data on services arrive, in China the index jumped by surprise
On the macro front, eyes focused on the definitive PMI indices for July. From China, a surprise rebound in the IHS Caixin index, which rose to 54.9 against the 50.3 calculated in June. The figure displaced the rosiest forecasts of analysts who were discounting some negative factors for July such as the resumption of the pandemic. The SME services index in China therefore returns to the levels of May after it reached its lowest level in over a year in June, while continuing to signal an expansion in activity.
Overseas will be announced the employment figure of July in the private sector calculated by Adp. This is a very popular result as it anticipates the official employment statistics that will be released on Friday.