Home » Positive Milan stock exchange awaiting Jackson Hole. Well the oil, Nexi and Moncler the queens of the day

Positive Milan stock exchange awaiting Jackson Hole. Well the oil, Nexi and Moncler the queens of the day

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The Milan Stock Exchange manages to close with a plus sign at the start of a week that will culminate with the Fed’s Jackson Hole symposium. There is great anticipation for the words that will be uttered by the number one of the US central bank, Jerome Powell, on the occasion the opening of the symposium that calls the main central bankers together and from which important indications could arrive this year on the start of the Fed tapering. Powell will speak next Friday 27 August, at 10 am New York time (16 Italian time) .

Meanwhile, the latest from the euro area are positive. With eurozone economic activity in August continuing to expand at one of the highest rates in the last two decades, with only a mildly weakened pace of growth despite widespread delays in the supply chain. For the first time in the pandemic period, the expansion of the tertiary sector exceeded that of the manufacturing sector, supported by the progressive reopening of the economy. From reading the preliminary ‘flash’ data, the Eurozone’s leading IHS Markit PMI Composite Index fell from its 15-year record in July of 60.2 to 59.5 in August.

In this context, Piazza Affari also recovered ground with some sectors that had suffered the most last week, namely luxury and automotive. In Milan, the Ftse Mib index collected + 0.49% at the end of the day, finishing above the 26,000 points threshold (26,046.03 points to be exact).

Among the stocks in the main basket, the queen of the day are Moncler and Nexi which gained 2.9%. Purchases also on oil, with Saipem and Tenaris among the best stocks on the list, with + 2.5% and 1.9% respectively, reflecting the recovery in crude oil prices.

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Among the banks, Unicredit is doing well, increasing by 2%. Mps specified that by continuing the due diligence activities by UniCredit, denying the rumors of a potential capital increase of 3 billion euros. The Bloomberg News indiscretion reported that under consideration by the Treasury there is a capital increase on Mps of up to three billion euros to strengthen its capital strength, thus satisfying UniCredit’s request to make the acquisition neutral for its ratios of capital.

Among the negative signs, the worst was Enel which lost 2.1%.

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