I main European lists they close the last session of the week with mixed signs. Overseas, Wall Street is traveling above parity with the quarterly season which is now in full swing with the publication of the accounts of the banking giants.
In Piazza Affari, the index Ftse Mib file trades in decline of the 0,39% to 28,663.30 points.
Of the larger-cap companies, you especially buy up Banca MPS (+1,7%), Fineco Bank (+1.5%) and Ferrari (+1.4%).
On the contrary, especially Banco Bpm (-2.1%), Saipem (-1.7%) ed Enel (-1,5%).
On bonds, yields are still down with the two-year Treasury at 4.65% and the ten-year at 3.79%. Btp-Bund spread below 169 basis points, with the Italian 10-year bond at 4.16%.
On Forex, the euro/dollar rises again to 1.12. Among the raw materials, oil (Brent) falls to 80 dollars a barrel.
Today started earnings season on Wall Street and as always it is banking sector to open the dance. The second quarter 2023 numbers of JP Morgan, Wells Fargo and BlackRock are expected, whose performances will be examined by analysts looking for clues on the health of banks and the US economy as a whole.
JP Morgan reported record second-quarter revenue of $41.4 billion and net income of $14.5 billion, ahead of expectations and up 67% over the same period last year. Quarterly accounts beyond expectations and 2023 guidance revised upwards also for Wells Fargo.
Next week will be a bit short of events of great importance. It starts on Monday with the publication of the China’s second quarter GDP before moving on to June inflation data from the UK (Wednesday) and Japan (Friday).
In the end, the quarterly season continueswith other US banking giants (Bofa, Goldman Sachs, Morgan Stanley) to publish their accounts, along with IBM and Tesla.