Moderate rise for Piazza Affari at the start. The Ftse Mib index marks an increase of 0.08% to 22,320 points. Ferrari was in the front row in Piazza Affari (+ 1.49%) which yesterday officially presented the new Purosangue (the first 4-door and 4-seater car) with deliveries starting from the second quarter of 2023 in Europe and 3Q23 in the United States. According to press sources, orders could reach 6 thousand units and according to Automotive News in the light of pre-orders Ferrari could consider closing the collection.
Banks also performed well with + 1.5% for Bper and Banco BPM. Stellantis also rose (+ 0.65%) which bought 2.2% of its own shares deriving from the exercise of the warrants held by GM. Diasorin also did well (+ 0.49% at 134 euros) which received the 510 (k) authorization from the US FDA for the Simplexa COVID-19 Direct test, a sample-to-answer solution for the detection of SARSCoV -2, the virus that causes COVID-19.
In general, the markets have recovered from a shock Tuesday. US inflation data, which in August was higher than expected especially in the core component, triggered a violent sell-off. “The surge in core inflation, which eliminates food and energy prices, has been the main reason for the panicked stock market reaction, demonstrating that price increases are no longer driven by components anymore. volatile ”, argue the IG experts this morning. Now the market is back to fully pricing a 75bp hike at the Fed meeting next week and there are those who go so far as to predict that the FOMC could even hit a full percentage point rate hike.
Yesterday Wall Street hit its worst daily decline since June 2020 with the Dow Jones losing more than 1,000 points and the Nasdaq sliding back 5%. This morning in Asia the Nikkei, the Hang Seng and the ASX 200 have lost more than 2% while the strength of the US dollar returns overwhelmingly on the currency.