European markets on standby

(Teleborsa) - The major European bourses are trading on a cautious note. Uncertainty and wariness also pervade Milan, where stocks cling close to the flatline.

There is no significant change for EUR / USD which, at 1.108, is traded around previous levels. Gold is slightly up at 2,506.4 dollars per ounce. Light Sweet Crude Oil is slightly up, rising to 69.46 dollars per barrel.

The Spread is broadly on the previous day's level as it settles at +140 basis points, while the Italy ten-year BTP is at +3.58%.

Among the European markets, it's a stalemate for Frankfurt, which is trading around the flatline, lacklustre London registers almost no change against the previous trading session, and Paris is definitely weaker with a -0.23% decrease.

Milan's Piazza Affari is essentially stable, with the FTSE MIB trading sideways at 33,716 points; similarly, the FTSE Italia All-Share (Milan) hovers around previous levels, trading at 35,850 points.

The FTSE Italia Mid Cap is below the flatline, slipping -0.34%; on the same trend direction, the FTSE Italia Star is slightly lower (-0.33%).

Among Italy's best performing large-caps, a positive result for A2A, which inches up +0.93%.

Snam is essentially healthy, gaining +0.89%.

Enel is modestly up (+0.83%).

Terna records a fairly pedestrian increase of +0.66%.

Brunello Cucinelli has the worst performance, with a -2.96% down.

Tenaris slips just under the flatline with a -1.39% decrease.

Saipem contracts moderately by -1.2%.

Amplifon is subdued, shedding -1%.

Alerion Clean Power (+1.30%), Pharmanutra (+1.15%), Rai Way (+0.98%) and Cementir (+0.73%) are among Italy's top mid-cap stocks.

The Italian Sea Group reports the heaviest losses, currently suffering from a -5.52% down.

MFE A is struggling, -1.94% down.

Sanlorenzo suffers losses of 1.92%.

Investors hurry to sell as Carel Industries declines -1.64%.

Among the macroeconomic rendez-vous that might have high influence on the markets:

Thursday, 9/5/2024
8:00 AM Germany: factory orders, monthly (expected -1.6%; prev. 4.6%)
11:00 AM European Union: retail sales, monthly (expected 0.1%; prev. -0.3%)
11:00 AM European Union: retail sales, yearly (expected 0.1%; prev. -0.3%)
1:30 PM USA: challenger job cuts (prev. 25.89K units)
2:15 PM USA: ADP employment change (expected 143K units; prev. 122K units)
2:30 PM USA: initial jobless claims, weekly (expected 231K units; prev. 231K units)
2:30 PM USA: unit labour cost, quarterly (expected 0.9%; prev. 3.8%).

(Teleborsa) 05-09-2024 09:30