The European stock exchanges slow down the fall after Black Thursday, Milan leads the rises

(Il Sole 24 Ore Radiocor) The European stock exchanges are trying to recover, after the sharp drops of the eve, caused by a series of negative news: from the discovery of the fourth leak in the Nord Stream gas pipeline, to the tensions in Ukraine caused by the referendum to annex the Dombass launched by Russia (and not recognized by the international community), up to the worrying macro data. Indeed, yesterday, 29 September 2022, it emerged that German inflation rose to 10%, while in the States it was confirmed that their domestic product, even in the second quarter of 2022, fell by exactly 0.6%, bringing the US economy in technical recession. Today, however, the focus is on the important American data on PCE inflation for the month of August, given under the Federal Reserve’s lens to make its own monetary policy decisions. Initially, however, the indices try to raise their heads, with Milan marking a progress of more than 1%, after having slipped to yesterday’s lows since November 2020, raising the losses from the beginning of the year to 26%. The spread stands at 240 points, while the ten-year BTP yield rises to 4.65%.

At Piazza Affari under the lens of the banks, St

In Milan, the actions of the banks are well set up. The Stellantis and Ferraris recover, after the weaknesses of the eve also caused by Porsche’s debut on the stock market. Investors have in fact sold the shares of the auto sector to make room for the newcomer, listed on the German market. Stmicroelectronics rebounds, falling sharply on the eve and despite the leadership of competitor Micron having drawn disappointing prospects. Out of the main basket, Banca MPS attempts a timid rebound, after having opened again in decline. For the Sienese bank, the countdown has started for the 2.5 billion capital increase that should be held in the coming weeks.

Stable unemployment in Germany, in Italy it drops to 7.8%

On the macro front it was announced that Germany’s unemployment rate remained stable in September compared to August at 5.5%. In Italy, moreover, Istat certified that the unemployment rate last August dropped by 0.1% to 7.8%, while the employment rate stood at 60%. “In August, the decline in employment recorded in July continues, but the number of employees remains above 23 million,” underlined the Italian statistical institute. In France, consumer prices slowed down in September: annual inflation was 5.6%, against 5.9% in August, according to provisional data published Friday by Insee, according to which the decline in inflation is due to the “slowdown” of the rise of energy and service prices. The GDP figure was revised upwards across the Channel in the second quarter, increased by 0.2% (the first reading indicated an estimated contraction of 0.1%). On an annual basis, the change was +4.4 per cent. Meanwhile, the German institute Ifo has raised the alarm on the worsening of the shortage of materials in German industry. In September, 65.8% of companies surveyed reported problems, up from 62% in August, according to the institute’s latest survey. In addition, manufacturing activity slowed down in China. In September, due to the containment measures of Covid, the SME index for the sector calculated by Caixin Media Co and by the research house S&P Global (formerly IHS Markit) fell to 48.1 in September from 49.5 in August. Instead, the official figure for purchasing managers for the industry, based on data from the state statistics agency, rose to 50.1 points in September (from 49.4 the previous month).

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Euro regains 0.98 dollars, gas stable, crude oil rises

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About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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