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By Fabrizio Patti
03 September 2020European stock exchanges continue to rise.
Yesterday the + 1.34% of the Ftse Mib brought back the decline of the first sessions of the week in Piazza Affari.
Now + 0.9% for Milan.
In the rest of Europe + 0.7% for London, + 1.24% for Frankfurt, + 1.75% for Paris.
Piazza Affari was only partially affected by a negative data arrived on the servants front: the SME index, which measures orders and expectations of purchasing managers, fell back to 47.1, below 50 which marks the border between contraction and expansion .
In recent days, the August manufacturing figure was above that threshold.
The euro continues to decline against the dollar, which is helping prices.
Two days ago the single currency touched 1.20, today it is 1.1820, good news for those who export.
Yesterday, the stock market session was dominated by Atlantia's run on the stock exchange, + 16.23%, on the hypothesis of an agreement between Atlantia and Cdp for a spin-off of Autostrade and above all on the basis of an 11 billion euro valuation by Autostrade.
Today a 3% drop.
Among the other protagonists of the past few days Tiscali, a 300% rise in one week.
Today it took profit, -37%.
The increase compared to last Thursday is still 187 percent.
The markets come from new records yesterday on Wall Street, marked by the S&P 500 and Nasdaq indices.
Despite disappointing data on new jobs created in August, half of analysts' expectations, confidence seems to have prevailed in a deal between Republicans and Democrats for new fiscal stimulus in the United States.
Asian stock exchanges were more contrasted.
Tokyo was up by almost a point.
A plus sign also for the Seoul and Sydney stock market indices, while Shanghai and Hong Kong are down.
The new tensions with the United States have weighed, because yesterday Washington placed restrictions on the activity of Chinese diplomats in America: in essence, to visit universities or local institutions they will have to have special permission