Another bearish open for European listings is expected on a day when investor sentiment continues to be divided between concerns about the spread of Covid variables, the chaos in Afghanistan and related macroeconomic data. Among those, the second estimate of Eurozone GDP for the April-June period is due today, with economists forecasting 2% quarterly growth and 13.7% annual growth.
Then focus on US macroeconomic data. In particular, retail sales in July, with the consensus seeing a 0.2% monthly decline, and industrial production also in July, are expected to grow by 0.4% compared to June. Wall Street futures are falling, albeit slightly, on concerns about the virus: health experts in the country have indicated, in fact, that the United States may soon see 200,000 cases of Covid-19 daily.
Big expectations for the intervention of Federal Reserve Governor, Jerome Powell, tonight after 19:00 Italian time: could give indications about the timing of the cut by the US central bank. European stock markets should follow Asian markets, once again under pressure by a combination of virus-imposed lockdowns, less-than-expected Chinese growth and regime change in Afghanistan: Hong Kong loses 1.61%, Shanghai 1.54%, Tokyo, more stable, 0.12% .
Oil contains the losses recorded yesterday and is trading little movement in the two reference lists with WTI at $67.30 a barrel and Brent crude at around 69.50. Gold recovered strongly at around $1,795 an ounce, while bitcoin rejected Monday’s euphoria and hovered around $46,000. The euro is falling against the dollar at 1.1767. BTP-Bund spread starts at 103 basis points, 10-year T-Bond at 1.243%.
In Avary Square to follow the titles of the Berlusconi Galaxy. as stated MF-Milan Finance, Fininvest Safe for the Family, will be renewed in October with a coupon of a maximum of 168 million from Banca Mediolanum and another 174 arrived with the sale of the stake in Mediobanca. As Mondadori considers expanding into its growing comic book business. He then focused on Intesa Sanpaolo stock, after outlining the final details of the eventual closing of the Ubi Banca integration deal. Finally, it is necessary to monitor oil, which suffered yesterday as a result of the decline in crude oil prices. (All rights reserved)
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