Stocks down, the fed dove is not enough down the oil and banking stocks

2021-07-15T08:56:01.896Z

The stock exchanges change their sign once again. After yesterday's + 0.15%, the Piazza Affari Ftse Mib index in the start-up marks -1 percent and drops below 25 thousand points. With one exception, in the last 14 days the Milan stock exchange has continued to alternate upward and downward closings. The partial budget for July sees a decline of 0.5 percent. In the rest of Europe, London -0.1%, Frankfurt -0.6%. Yesterday indices little moved on Wall Street (Dow Jones + 0.13%, Nasdaq -0.22%), reassured by the words of the governor of the Fed, the US central bank, Jerome Powell: the increase in inflation is temporary, has reiterated, the Fed will continue to support the recovery. The market day opened with Chinese GDP data in the second quarter: +7.9 percent, just below analysts' expectations.Compared to 2019, the climb is 5.5%. In the first quarter, GDP had risen by 18%, but the comparison was with the peak of the epidemic in China. On the other hand, both industrial production and retail sales in June were higher than expected. The markets are doing well, the Hong Kong and Shanghai stock exchanges have risen by about 1%, while Tokyo is down -1.15%. Oil, on the other hand, fell to 73.6 dollars a barrel with Brent, -1.5 percent. Yesterday agreement at Opec Plus: the United Arab Emirates have obtained a derogation from the limits decided by the organization and will be able to increase production. Among the stocks, higher increases for Prysmian and Amplifon, + 0.3% for both. Major falls for some oil stocks: Eni (-1.24%), Saipem (-1.48%) and Tenaris (-1.7%). Several banks are also bad: decline for more than1 percent for Intesa Sanpaolo, Unicredit and Fineco. The ranking of the Ftse Mib Atlantia closes, -1.9 percent.