Bad today Piazza Affari. In closing the Ftse Mib index marks a -0.50% to 25,156 points. US inflation is at the fore today, which jumped to + 5.4% on an annual basis in June, well above the + 4.9% expected by the consensus. Beyond expectations, core inflation also reached + 4.5% (consensus was + 4%) which marks the record since September 1991.
New crush on the Milanese parterre for the banking sector on the starting day of the US learning season with the leading banks. Quarterly numbers from Goldman Sachs (better than expected revenues and profits) and JP Morgan (+ 132% EPS, but revenue down) did not warm investors with both stocks scoring around -2% on Wall Street.
At the closing of Piazza Affari Unicredit gave 1.7% in the area of € 9.551, confirming the declines at the beginning of the day. Intesa Sanpaolo is down by 1.54%, while the absolute worst is Bper with over -3.4 percent.
Among the other blue chips, down by 0.89% ENI which floats just above the 10 euro wall; Tenaris among the worst at -2.14%. Oil prices are moderately up today (+ 0.5% WTI to $ 74.4) with the IEA warning about the risk of a severe supply shortage that can lead to further price hikes and further increased inflationary pressures, a possible threat to the fragile global economic recovery.
Recordati was also among the worst (-1.56%) after the rush on the eve of the day. On the other hand, Inwit (+ 1.45%) and Buzzi (+ 0.77%) did well. Finally, Campari increased moderately (+ 0.22%) which created a 50/50 joint venture with the French Moët Hennessy with the aim of investing in e-commerce companies Wine & Spirit to build a European player specialized in this growing channel.