Stock markets recover 3% in a week: Inflation in Europe and the United States is the next test

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(Il Sole 24 Ore Radiocor) – The European stock exchanges Locked in a quick race with the third straight rise and Wall Street also fell especially with the Nasdaq back above 12,000 points: After Wednesday’s Federal Reserve indicators and data on US personal consumption expenditures inflation, traders are showing their confidence in the fact that the price peak has been reached in the United States. even strong CAC 40 Paris, dated DAX 40 Frankfurt andAEX Amsterdam. Sales on facilities Piazza Afari (Ftse Mib) and Madrid (IBEX 35). The increase in London is also limited (FT-SE 100).

For Europe, a 3% return last week

For European listings, the index closed eighth with an overall recovery of about 3%. The last three bullish sessions allowed the listings to post a positive balance compared to last Friday’s close, with the Ftse Mib index up 2.2%, lagging far behind among the major continental markets. With the Stoxx 600 Europe up 3%, Frankfurt’s Dax40 up 3.4%, Paris’s Cac40 up 3.7%, Madrid’s Ibex35 up 5.3% (also thanks to Santander + 10.5% and Inditex + 9.2% jump, the best stocks in Eurostoxx 50), Ftse100 in London at 2.6%, and Aex in Amsterdam at 2.8%. The best sector of the week in Europe was the retail sector (+6.6%), followed by the banking sector (+6%) with raw materials (+5.3%) completing the platform. In Piazza Avari, the pink shirt of the week from Saipem (+9.3%) that precedes the banks: Unicredit + 8.8%, Bper + 7.9% and Banco Bpm + 7.4%. Against the Italgas (-5.5%) and A2A (-4.9%) mark, thanks to a weak week for utilities at the European level. Generali lost 5.1%.

Wall Street rises and personal consumption expenditures (PCE) inflation rates fall

rise briskly Wall Street (+1.76% Dow Jones, +2.47% S&P 500) after slowdown in inflation: The third consecutive recovery session for the Nasdaq (+3.33%). Thus the indices managed to break the long streak of the ongoing weekly declines (eight for the Dow, seven for the S&P 500 and Nasdaq Composite). Eyes on PCE inflation data, published alongside personal income and consumer spending: April PCE inflation fell to +6.3% annually, with the “core” figure down to +4.9%, in line with estimates and after 5.2% of Year over year, the “core” figure was recorded in March, which is a forecast of 4.9%. The slowdown in inflation is pushing the stock market especially the tech sector and discretionary consumer goods with Apple and Microsoft in the evidence.

US consumer confidence at 11-year low

In May, Americans were less optimistic about the economy than the previous month. The final index of confidence prepared by the University of Michigan monthly was 58.4 points, after 59.1 from the initial reading, down from 65.2 from the final reading in April, versus expectations for a confirmation of 59.1 points. This was the worst reading since 2011. The component that measures expectations for the future rose from 62.5 to 55.2, and the component for the current situation decreased from 69.4 to 63.3. As for inflation, the annual forecast fell from 5.4% to 5.3% against a confirmed forecast of 5.4%, and the five-year forecast remained unchanged at 3%, in line with its expectation. In February 2020, before the outbreak of the pandemic, the index was at 101 points.

In Milano Generali down with director Caltagirone from Cda

In Piazza Avary, a sales session for utilities and banks: in particular, Terna, which reached an all-time high two days ago, set the pace with other companies in infrastructure networks, while retreating between banks Pop eh bankand Mediobanca and Banco Bpm. public And it fell to 17 euros after the sudden announcement of the resignation of Francesco Gaetano Caltagirone, with immediate effect, from the company’s board of directors. small movement Telecom Italia, Struggling with a single network node. After gathering in the evening, slow down Saipem, which also, in a similar joint venture with Clough, has reached a $2.7 billion agreement with Perdaman Industries to develop a urea plant along the coast of Western Australia. Exit to the main price list Autogrill which, according to sun 24 hours, sees the merger with Dufrey closer. Weakness of MediaForEurope’s actions (Mfe(formerly Mediaset): The takeover and exchange bid begins Monday to delist Madrid-listed Mediaset Espana.