by Fabrizio Patti Milano23 August 2019Expectations of directors purchasing downwards, on the one hand. Requests for unemployment benefits lower than expected, on the other. For the US economy yesterday was a new day with contradictory data and that's why the eyes of the markets today are focused on the speech that the governor of the American central bank, Jerome Powell, will hold at the annual meeting of the Kansas Fed in Jackson Hole, in Wyoming. His reading of the economic phase, marked by contradictory data, will give signals on the timing and extent of a future rate cut.
Meanwhile, the European stock markets are positive today, after yesterday's descent. Milan (-0.14% yesterday in closing after a day with the plus sign) now marks + 0.56%. Even Frankfurt, London and Paris have upward indices of about half a point.
The spread is still under observation. The spread between German BTPs and Bunds yesterday fell by 5 basis points, from 200 to 195. At the opening, the spread remains stable, +2 basis points for the Italian BTP (at 1.32%), +2 point for the Bund German.
Opening + 0.80% for the banking sector in Piazza Affari. Yesterday, ECB supervision, led by Andrea Enria, reviewed the rules for the management of impaired loans, giving more time (up to 9 years and no longer 7 for those backed by a real estate guarantee) to banks to dispose of those disbursed starting from April 2019.
Best Ftse Mib Banco Bpm and Juventus titles, with increases of just over 1.50%. The only negative titles are Diasorin (-0.10) and Campari (-0.30%).