© Reuters. The European stock exchanges continue the rebound, Milan tries to reconnect 28,000
The main European markets continue to recover for the second session, awaiting tomorrow’s key data on US inflation and the start of the quarterly season. Euro always in view of 1.10
The shares of the old continent continue for the second session in a row its attempt to rebound after a volatile week, with investors awaiting the key data on theUS inflation June out tomorrow before Wall Street opens and earnings season kicks off. Meanwhile, inflation in Germany in June was confirmed at 6.4%, interrupting the downward trend since the beginning of the year, while in Great Britain unemployment rose to 4% but with wage tensions. Eyes on too Chinese pending possible measures to support the real estate sector.
In Milan the index it does a little less well than Paris and Frankfurt but in the afternoon it tries to re-attach the important level of 28,000 points by scoring the third session on the rise. In terms of data, it is worth noting the rebound of as much as 1.6% on the month of Italian industrial production in May, the first increase in five months, more than doubling market expectations. At individual stock level, Moncler (BIT:), MPS (BIT:) and Erg performed well, with a sustained increase, while Recordati (BIT:), Saipem (BIT:) and Telecom Italia (BIT:) lost.
On the foreign exchange market, the euro is close to 1.10 against the dollar, while the yields of the main government bonds are up slightly with the BTP who travels little at 4.4% while that of the German is above 2.6%. In the commodity market the price of petrolium it is still moving well up with gold approaching $74 and gold traveling above $78.5, while gold holds above $1,930 an ounce.
** This article was written by FinanciaLounge