(ANSA) – MILAN, AUGUST 19 – The main European stock markets moved in no particular order in the first session of the Jackson Hole week, the traditional summer meeting of global central bankers organized by the Fed. Madrid (+0.8%) was the best, followed by Milan (+0.45%), Paris (+0.1%), Frankfurt (-0.1%) and London (-0.15%). US futures were negative ahead of the July predictive index, expected to fall by 0.4% compared to -0.2% in June. Crude oil continued to fall (Wti -0.63% to 76.17 dollars per barrel), gas was almost unchanged (+0.02% to 39.65 euros per MWh), while gold raced to new highs (+1.66% to 2,505.8 dollars per ounce), on the hypothesis of an upcoming US rate cut. The dollar is weak at 0.9 euros and 0.77 pounds, the spread between BTPs and German Bunds is stable above 137 points, with the Italian annual yield falling by 3.2 points to below 3.6% and the German one by 2.2 points to 2.22%. Purchases in Stellantis and Volkswagen car stocks (both +1.15%) while the defense sector is falling after German press rumors about a possible halt to new military aid to Ukraine by Berlin, to keep German public finances under control. Saab is falling by 5.21%, Rheinmetall by over 4% and Leonardo by 2.12%. Iveco (+1.61%) and Daimler Truck (-0.06%) are mixed. In the banking sector, Bper (+1.58%) stands out, while Commerzbank (+0.74%), Unicredit (+0.67%), Intesa (+0.65%), Bbva (+0.56%) and Banco Bpm (+0.5%) are more cautious. The drop in crude oil slows down Bp (-0.75%), Shell (-0.36%), TotalEnergies (-0.08%) and Eni (+0.07%) are little moved. Tim (+3.3%) stands out in Piazza Affari and among its European rivals, with Telefonica growing by 1% and Vodafone limiting the increase to 0.56%. (ANSA).
2024-08-20 06:34:42