Home » Piazza Affari ends at +0.4%, Wall Street down

Piazza Affari ends at +0.4%, Wall Street down

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Piazza Affari ends at +0.4%, Wall Street down

Positive day for the European stock exchanges, including Piazza Affari. The Ftse Mib closed up by 0.4% at 28,815 points, with purchases in particular of Tenaris (+2.7%), Pirelli (+2.2%) and Bper (+2%). At the bottom of the main list are Erg (-1.7%), Inwit (-1.7%) and Stm (-1.5%).

Meanwhile, on Wall Street the S&P500 (-0.2%) and the Nasdaq (-1%) retreated, held back by the quarterly reports below the expectations of Netflix and Tesla released last night. The streaming giant disappointed revenue expectations and released a below-expected outlook for the third quarter, while the electric-car maker reported a decline in margins, weighed down by discounts implemented to boost volumes.

From the macro agenda came the US data, unexpectedly down, on weekly jobless claims, which rekindle the debate on the next moves of the Fed, increasing the probabilities of a new rate hike after next week’s meeting.

This supported the dollar and caused a rise in bond yields. On Forex, the euro/dollar depreciates to 1.114 while the exchange rate between the greenback and the yen rises above 140. Among the raw materials, oil (Brent) stabilizes at 79.5 dollars a barrel, with fears about demand and the strength of the dollar offset by the decline in US inventories.

In the fixed income sector, the US two-year yield rises to 4.86% and that of the ten-year yield to 3.85%. The Btp-Bund spread stands at 162 bp with the Italian 10-year bond at 4.1%.

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