European bourses sharply up, Milan flat

(Teleborsa) - The major European markets boast substantial gains, but the Milanese stock market closes unchanged. Meanwhile on Wall Street the S&P-500 marks a +0.65% gain.

EUR / USD creeps higher, showing a +0.57% rise. Gold trades up, advancing to 2,695.3 dollars per ounce. Light Sweet Crude Oil meanders around the flatline, settling at 71.87 dollars per barrel.

The Spread touches +130 basis points, a 5 BPs increase over its previous level, with the Italy BTP 10Y yield at +3.73%.

Among the European indices, Frankfurt progresses +1.7% in an optimal session, London is definitely weaker with a -0.32% decrease, and Paris rises +0.76% on positive cues.

The Borsa Italiana closes flat, with the FTSE MIB settling at 33,981 points, while, instead, the FTSE Italia All-Share inches up +0.31% to close at 36,136 points.

The FTSE Italia Mid Cap sparkles (+2.59%); similarly, the FTSE Italia Star puts in an excellent performance (+1.69%).

Among Italy's best performing large-caps, Iveco impresses with a +10.73% rise.

Banco Bpm takes off (+8.97%).

Interpump Group boasts a +5.96% increase as investors scramble to get their hands on shares.

An ebullient Azimut is up +5.42%.

Prysmian reports the heaviest losses, ending the session -3.77% down.

Snam is down, with a net loss of 3.14%.

Intesa Sanpaolo is firmly in the red, showing a fall of 2.95%.

Terna trades negative, losing -1.94%.

Juventus (+14.60%), Anima Holding (+11.13%), Intercos (+8.96%) and Ferragamo (+6.15%) top the ranks of Milan's mid-caps.

Carel Industries has the worst performance, closing -4.89% down.

Digital Value plunges -3.33%.

Banco di Desio e della Brianza declines by a notable -3.06%.

Philogen slips just under the flatline with a -1.48% decrease.

Among the macroeconomic variables of high impact:

Thursday, 11/7/2024
8:00 AM Germany: Trade balance (expected 20.8 Bln Euro; prev. 22.5 Bln Euro)
8:00 AM Germany: industrial production, monthly (expected -1.1%; prev. 2.9%)
8:45 AM France: employment, quarterly (expected 0%; prev. 0%)
11:00 AM European Union: retail sales, yearly (expected 1.3%; prev. 2.4%)
11:00 AM European Union: retail sales, monthly (expected 0.4%; prev. 1.1%)
2:30 PM USA: productivity index, quarterly (expected 2.6%; prev. 2.1%)
2:30 PM USA: unit labour cost, quarterly (expected 1.1%; prev. 2.4%).

(Teleborsa) 11-07-2024 06:02 PM