Markets weak, but Milan avoids sell-offs
(Teleborsa) - European bourses close the trading session on a downward note, while Piazza Affari resists the downdraft. Meanwhile, Wall Street sees the S&P-500 dip into the red.EUR / USD broadly maintains the previous session's levels, with a change of only +0.13%. Gold is slightly up at 2,507.4 dollars per ounce. Light Sweet Crude Oil trades with a fractional gain of 0.43%.
The Spread is broadly on the previous day's level as it settles at +139 basis points, while the Italy ten-year BTP is at +3.57%.
Among the European indices, Frankfurt lacks momentum, trading with a -0.08% change, a sluggish day for London, which drops -0.34%, and Paris plunges -0.92% on intense selling.
In Milan, Piazza Affari sees fairly steady trading around previous levels, with the FTSE MIB finishing at 33,685 points; similarly, the FTSE Italia All-Share trades flat, closing at 35,803 points.
The FTSE Italia Mid Cap closes in the red (-0.8%); similarly, the FTSE Italia Star finishes just below the flatline (-0.67%).
Telecom Italia (+1.88%), Enel (+1.64%), Unipol (+1.51%) and ERG (+1.50%) among the top performers in Milan.
Brunello Cucinelli has the worst performance, closing -5.25% down.
Investors are selling as Ferrari records a -2.35% fall.
Moncler shows a negative session -2.19% down.
Troubled Stellantis falls -1.65%.
Pharmanutra (+2.68%), Ferretti (+2.33%), Anima Holding (+2.01%) and Comer Industries (+1.95%) are among Italy's top mid-cap stocks.
The Italian Sea Group sees the heaviest sell-offs, finishing trade -10.57% lower.
A dramatic session for Sanlorenzo, which suffers a -6.58% collapse.
Technoprobe suffers a -3.85% decline.
De'Longhi is down, with a net loss of 3.32%.
Among the most relevant macroeconomic data:
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. -0.4%)
11:00 AM European Union: retail sales, yearly (expected 0.1%; prev. -0.4%)
1:30 PM USA: challenger job cuts (prev. 25.89K units)
2:15 PM USA: ADP employment change (expected 144K units; prev. 111K units)
2:30 PM USA: initial jobless claims, weekly (expected 231K units; prev. 232K units)
2:30 PM USA: unit labour cost, quarterly (expected 0.9%; prev. 3.8%).
(Teleborsa) 05-09-2024 18:02