Moderate upside at the start for Piazza Affari. The Ftse Mib index rose by 0.27% to 25,325 points after the announcement last night by the Federal Reserve which left rates unchanged in the range between zero and 0.25%. US central bank president Jerome Powell has once again curbed speculation about an imminent QE tapering. “Our approach – he said – is to be as transparent as possible. We have not yet reached that situation characterized by further significant progress. We believe we still have some way to go to get there”. Significant further progress means progress in employment and inflation which, evidently, are not yet sufficient according to the Fed to endorse the start of tapering.
Among the Milanese blue chips, ENI is doing well (+ 0.47%) pending the quarterly accounts. On the other hand, Enel was slightly down (-0.23%). Stm detachment at + 3%, which closed the second quarter with a net profit of 412 million dollars.
Today, attention to the US GDP for the second quarter, as well as to the new requests for unemployment benefits. At the corporate level, the season of accounts continues apace, with the results of Credit Suisse, Nokia, Nestle, Shell, Telefonica, and Volkswagen. In Italy, Boards of Directors are scheduled on the accounts of 14 companies of the Ftse Mib, including ENI, Enel and Unicredit.