The world's stock markets are buzzing with good news these days and Business Square is no exception, closing today also up 0,92% at 34.727 basis points, led by Moncler +10,91%. This time it is the lvmh (+3,63%) which is entry into the capital of the Ruffini family's control safe. The European panorama is on the other hand positive, reassured by the confirmation of the new stimuli of the Chinese central bank - which has given wings to many Asian markets - and the harmonious start of Wall Street, with optimism fueled by slightly slowing inflation. French inflation also performed well, slowing to 1,2% annually in September from the previous +1,8%.
Thus Paris it appreciates by 0,64%, in line with Amsterdam + 0,63% London + 0,44% Madrid +0,2%. Campeggia Frankfurt + 1,4%.
The euro dollar is stable, in the 1,1181 area; oil is little moved (Wti 6784 dollars per barrel, +0,25%; Brent 71,14 dollars per barrel, +0,07%).
US inflation slows; eurozone consumer inflation expectations fall
L'inflation of United States slows down: this is what the PCE indicator, the Fed's favorite, says. The figure measures the prices of personal spending and increased in August by 0,1% compared to July, in line with expectations, marking +2,2% compared to a year earlier, against the 2,3% of estimates; last month the figure was at 2,5%. The "core" component, adjusted for volatile elements, grew slightly more than expected instead: 0,2% on the month (0,1% expected); +2,7% compared to a year earlier, against the 2,6% of July, expectations at 2,7%.
Staying on the subject of inflation, the ECB writes that expectations for euro area consumer spending fell to 2,7% over the 12-month horizon in August (from 2,8% in July). The three-year projection rose to 2,3% from 2,4%.
The slowdown in price action in many countries in the bloc is also raising bets on a more dovish central bank that will act on rates before December. Bloomberg He says the market gives an 80% chance of an early cut at the October 17 meeting and that on average a 20 basis point interest rate cut is expected.
Finally, confirmation of the rumours that circulated yesterday and which had provided a lot of energy to the markets has arrived from the Chinese front. Dragon Central Bank (PBOC) has in fact cut the reserve requirement ratio (RRR) for financial institutions by 50 basis points, to 6,6%. Depending on the conditions, according to Governor Pan Gongsheng, there could be a further cut of 25-50 basis points by the end of the year.
Piazza Affari, banks slow down but luxury shines
Today's slowdown in banks, which were the subject of profit-taking after recent gains, has not put a damper on the price list, which is driven by luxury stocks and stm (+5,96%). However, it is in contrast with the trend Unicredit, +0,71%%, on the day of first interview with Commerzbank (+ 0,58%).
The news of the day, however, is the arrival of the French giant Bernard Arnault in yet another Italian brand.
In fact, during the night the entry of 10% of lvmh in the holding of Remo ruffini, which controls approximately 15,8% of Moncler.
Arnault's appetite doesn't end there. LVMH aims to increase its stake to a maximum of 18,5% in the holding company through a Moncler share purchase program over a period of about 18 months.
This move keeps the spotlight on a sector already very animated by the news coming from Beijing. Thus continued today the rally of BRUNELLO CUCINELLI, which closes with a growth of 3,82% and that of Ferragamo (+5,06%). The small Aeffe, +13,01%, is taking part in this week's banquet, with purchases enlivened by the news of the sale of some products such as perfumes and cosmetics under the Moschino brand.
Among the blue chips it is tonic Stellantis +3,99%, in a well-bought sector and with Dagospia rumors about possible approaches with Renault. A “crazy” idea that would be caressed by the French president Emmanuel Macron. “The operation is more than a suggestion,” claims the site, according to which Tavares’ imminent exit would be linked to the creation “of a global colossus, potentially capable of displacing the Japanese Toyota from the top of the podium of global manufacturers (and certainly overtaking Volkswagen from the top of the European ones)”.
Bene Diasorin + 3,55% Interpump + 3,26% Tenaris + 3,06%.
They carry the minus sign instead Prysmian -2,55% Classic Ferrari for sale -0,86% Popular of Sondrio -0,85% Leonardo -0,78%.
Out of the main basket it stands out Monref +23,88%, after the launch of a takeover bid for delisting at 0,05 euros per share.
Spreads up slightly
It rises slightly today spread between the two ten-year benchmarks, the Italian one and the German one. Near the closing, the spread is indicated at 133 basis points, while the yield for the BTP is at 3,47% and for the Bund at 2,14%.
