Milan Stock Exchange pushed by banks and oil companies
Banking and oil companies push Piazza Affari which closes the last session of the week in a pink jersey. The Ftse Mib ends up 0.99%, with Paris (+0.4%) and Frankfurt (+0.5%) positive, but London and Madrid. The session was marked by the publication of the US labor report: fewer jobs were created than expected in June (209,000, the lowest since December 2020) but unemployment fell to 3.6% from 3.7%. Although this is the lowest monthly figure since the pandemic, the US market remains strong. In particular, average hourly wages increased more than expected: another sign that labor demand remains solid. For this reason, analysts remain convinced that the Federal Reserve will continue on its way“There is nothing in the data that would cause the Fed to hold off a rate hike in July,” said Greg Wilensky, Janus Henderson’s head of US Fixed Income. Meanwhile, Wall Street proceeds slowly.
Intermonte boccia Amplifon
Among the titles, Saipem (+4.7%) and Iveco Group (+3.75%) stand out in Piazza Affari), when Amplifon closed in the red (-1.7%), with analysts cautious on market trends for the second quarter of the year: Intermonte lowered the rating on the stock to “neutral” (from “outperform”) with a cut in the target price to 35 euros (from the previous 41 euros). The booming debut of thyssenkrupp Nucera on the Frankfurt Stock Exchange (+17%) pushed shareholder De Nora (+5.86%) to Milan.
Step ahead of the gas
On the foreign exchange market, the single currency regained the threshold of 1.09 dollars after the data on US jobs and at the end it changed hands at 1.0949 dollars (1.0883 at the start and 1.0836 at the close yesterday). Oil is progressing: the September contract on Brent rises by 1.45% to 77.63 dollars a barrel and that expiring in August on the WTI by 1.56% to 72.92 dollars a barrel, when in Amsterdam gas gains 2.2% at 33 euros per megawatt hour.