by Fabrizio Patti

Milan 15 September 2021 European stock exchanges closed a day marked by weakness, which started with the dissemination of lower than expected data on retail sales (+ 2.5% annual change) and on industrial production (+5.3 % change annually) in China in August.

In Europe, the stock exchanges in Milan did badly, -1.02% for the Ftse Mib index, and in Madrid, -1.69%.

The opening was quieter on Wall Street, the Dow Jones index and the S & P500 both rose 0.2%, around parity on the Nasdaq.

The higher than expected figure from the Empire State manufacturing index had a positive impact: in September it was 34, from the previous 18.3.

Utilities drove Piazza Affari downwards: -4.53% for the sector index. Among the securities -5.51% for Enel, -4.21% for A2A. This is because in the face of the expected increases in the bills there is the possibility that the government will intervene. And investors speculate that Spain will be followed, where among the various interventions there was also a tax levy on the extra-profits of the managers of hydroelectric and nuclear power plants.

In terms of energy, the price of oil rises again, with Brent from the North Sea exceeding 76 dollars a barrel, and then returning to 75.6, + 2.6% compared to yesterday, also because crude oil in the United States fell more than expected, by 6.4 million barrels, in the week ending 10 September.

Among the sectors, luxury is also bad. Moncler, -5.16%, had the biggest drop. But there was also a sharp decline for Tod's, Salvatore Ferragamo and Brunello Cucinelli.