The European stock exchanges seem to leave behind the slowdown of the last session in June and start the second half of the year with a good rise. In the January-June period, continental price lists recorded record increases, often in double digits, driven by the progress of vaccination campaigns and by the gradual recovery of economic activity all over the world. In recent weeks, however, the restrictions reintroduced in some countries to deal with the spread of the Delta variant of Covid have slowed the rebound and worried investors. The market is now awaiting the release, on Friday 2 July, of the report on the US labor market, while the announcement of the OPEC + countries on production levels is expected today: a partial cancellation of the cuts decided to manage the decline in global demand is expected of energy due to the health emergency.
Purchases on St after Micron data and launch buy back
Among the Milanese stocks with the highest capitalization, money on Davide Campari, Cnh Industrial and Enell. Stmicroelectronics also did well, announcing a $ 1.04 billion buyback program and also benefiting from better-than-expected data from Micron in the US. Realizzi instead on Unipol which in the session of Wednesday 30 June had benefited from the news of the purchases of a further 1% by some member cooperatives.
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Tokyo in red, Covid is scary again
Closing in a new fall for the Tokyo Stock Exchange amid concerns about the new wave of coronavirus. The Nikkei index closed down for the fourth consecutive session (-0.29% to 28,707.04 points) and the broader Topix index lost 0.22% to 1,939.21 points. The Tokyo department yesterday identified more than 700 new cases of Covid-19, a level not observed for more than a month. Japanese health experts fear a new wave of cases that the Tokyo Olympics (July 23-August 8) could further aggravate. “Even as the spread of vaccination advances, with the Delta variant the epidemic situation remains severe in Japan,” said Takashi Ito, strategist at Nomura Securities. Meanwhile, the quarterly Tankan Confidence Index reported a further improvement in morale among large Japanese manufacturing companies, but slightly below expectations. Furthermore, the short-term outlook for businesses remains moderate, even negative.
(Il Sole 24 Ore Radiocor)