Bad day for Piazza Affari and the other main European stock exchanges, with the investor sentiment which is still affected by Fitch’s unexpected downgrade of the US credit rating, which has triggered profit-taking after recent positive market performances. On the macroeconomic front, China’s services PMI as recorded by Caixin rose from 53.9 in June to 54.1 in July, contrary to expectations. The HCOB-S&P Global PMI Indices signaled that the eurozone economy started the third quarter with the fastest contraction in activity since November last year.
the Ftse Mib down by 0.94%, the Dax40 by 0.8% in Frankfurt and the Cac40 by 0.7% in Paris. After the gains achieved by the European Stock Exchanges in the first seven months of the year, caution prevails. The rise in market rates does not disturb the techs, the stainless Nasdaq returns to parity. Thomas Barkin (Richmond Fed) says inflation is down and the slowdown in the economy is gentle. In the evening, the eagerly awaited half-year reports of Apple and Amazon arrive – and on the macro front there are conflicting indications on the trend of the economy. On the central bank front, the Bank of England intervened today, raising rates by 25 basis points to 5.25% as expected. The market is also keenly awaiting tomorrow’s US labor market report, when weekly jobless claims were in line with forecasts.
Among the securities, in Milan sales session for Bper (-4.09%) after the quarterly report substantially in line with expectations.