First glimpses of the session up for Piazza Affari pending the data of the US labor market. The Ftse Mib, recovering from the 1% drop on the eve of the day, marks + 0.29% at 21,200 points.
Yesterday difficult session in the United States with Down Jones and S&P 500 down by about 1% thanks to the nervousness on the direction of the Fed’s policy. For today’s non-farm payrolls, the expectations are +275 thousand jobs with a steady unemployment rate to 3.7% in September. “A weakness in today’s data could raise the idea that the labor market is slowing, and thus perhaps produce a new rally in equities. On the contrary, the signs of further strengthening will reinforce expectations of further monetary tightening, ”IG experts argue this morning.
Enel is recovering in the area of € 4.20 (+ 0.7%) after yesterday hitting its lows since March 2017. Banks also recovered with + 1.6% for Banco BPM and + 10.9% for Unicredit. STM suffers today (-2.2% to 34.73 euros) after AMD, leader together with Intel in the design of CPUs mainly used in PCs, published the preliminary revenue for the third quarter below expectations ($ 5.6 billion, -16% vs $ 6.7 billion of the consensus). Samsung, the main memory maker, also reported below expectations