No impact on European stock exchanges from the record inflation in the European Union: the equity markets of the Old Continent always positive at the mid-day mark, even if slightly slowing down.
Wall Street is preparing to close the week lower after the sharp drops recorded yesterday, Thursday 29 September. The second quarter GDP reading confirmed the technical recession for the US: gross domestic product fell by 0.6% (after -1.6% in the first quarter).
Stock market still positive at the mid-session mark, albeit with a small rise compared to the morning. The Ftse Mib index marks + 0.86% at 20,527 points. Piazza Affari in the wake of the other European stock exchanges, without being affected by the high inflation of the Eurozone, estimated at 10% in September. On the macro front, it should also be noted the reversal of the British GDP figure for the second quarter closed with a slight increase in the final reading, instead of the expected decline. Now eyes on US core inflation which will soon spread. The big banks are doing well on the list, Intesa with + 2%, Unicredit with + 2.1%, Mediobanca + 2.2%. Another difficult session for Monte Paschi (-7.2%) on the uncertainty due to the participation of Axa and Anima in the increase, which could postpone the start of the operation. Assets under management are good. In energy Eni rises with + 1.8%, Italgas + 1%, the others are outdistanced with Enel which marks a decline (-0.6%). Among the other blue chips, Stellantis lost 0.9%, Stm -1%, Prysmian good at + 3%, Iveco + 2%. The spread between ten-year BTPs and German Bund counterparts is down. After an upward start to 250 points, the spread stands at 243, lower than yesterday’s close, while the yield on Italian bonds falls to 4.525%. The euro fell against the dollar after a strong start, with an exchange rate that marks -0.6% at 0.9752 dollars. Common currency also folded back on the pound and more markedly on the yen, -0.5% at 140.99. The pound now falls to the dollar at 1.1052.