Final octave marked by sales, albeit moderate, for Piazza Affari despite the new records reached in the afternoon by Wall Street. The Ftse Mib index sent the session to archive just below par at 25,282.41 points on a day in which operators focused on the monthly report on the American job market.
In detail, the US economy created 850,000 new jobs in June, well beyond expectations. Economists had forecast growth in new jobs of 706,000, following the payroll hike of 559,000 in May. The unemployment rate, on the other hand, rose to 5.9% in June, disappointing the expectations of analysts who expected a decline to 5.6%. “The final summary is that today’s data gives the stock exchanges a still ideal scenario: signs of improvement in the labor market, but at a more gradual pace, such as to remove for now the perception of a Fed imminent to act on the front rates ”, comments Antonio Cesarano, Intermonte’s chief global strategist.
In this context, the best of the day at the Ftse Mib was STMicroelectronics which ended the session up by more than 2 percent. Yesterday, the Italian-French chip group announced the launch of a share buyback program for a maximum value of up to US $ 1.040 million to be completed within a 3-year period. The company intends to carry out the repurchase program and hold these treasury shares in its portfolio, in order to fulfill the company’s obligations relating to the share incentive plans in favor of employees and to serve the potential settlement of its outstanding convertible bonds. Plus sign also for Nexi (+ 1.44%), Ferrari (+ 1.31%) and for Atlantia (+ 1.16%).
Financials in trouble on the Ftse Mib, which closed the session with a drop of about 1.8 percent. Banco Bpm was also down, losing more than 1.5%. Weakness for Stellantis (-0.02%) which yesterday communicated the data on car registrations in Italy. The group born from the merger between FCA and PSA totaled 56,382 units, with a growth of 19.5% compared to the same month of 2020 and a share increasing to 37.7% from 35.5%.