Negative day for the stock exchanges of the Old Continent, while on Wall Street the uncertain Dow Jones (+ 0.4%), S & P500 (+ 0.1%) and Nasdaq (-0.1%) continue. In Piazza Affari, the Ftse Mib ended with a drop of 1.0% to 25,102 points, after having also reached a minimum below the 25,000 threshold. In the red also the Ftse 100 in London (-0.7%), the Cac 40 in Paris (-0.9%), the Ibex 35 in Madrid (-0.9%) and the Dax in Frankfurt (-1 %).
Sentiment remains weighed down by the spread of the delta variant of the virus, which raises concerns for a slower-than-expected economic recovery due to new restrictions on activities and travel.
Focus also on the macroeconomic agenda, pending the June Job Report from the US Department of Labor, due out on Friday, from which analysts expect about 700,000 non-farm payrolls (potentially the largest increase since March). Any signs of a strengthening of the US labor market would fuel the debate over Fed tightening action sooner than expected, while a below-expected reading could delay that outlook.
Meanwhile, the June ADP data were released which highlighted the creation of 692,000 new jobs in the private sector (consensus 600,000, May 886,000), and the Chicago manufacturing PMI index, which dropped to 66.1 points in June. from 75.2 in May.
Previously, from the macro agenda came the Chinese data relating to the manufacturing PMI (substantially stable at 50.9 points) and the non-manufacturing PMI (down to 53.5 points), in addition to the preliminary inflation of the eurozone in June (slowing down to 1.9% yoy) and Italy (EU harmonized index slightly accelerating to + 1.3% on an annual basis).
On the Forex, the euro / dollar slipped to the 1.186 area while the exchange rate between the greenback and the yen strengthened to 111.
Among raw materials, crude oil prices reduce earnings with Brent (+ 0.2%) to 74.4 dollars and WTI (+ 0.2%) to 73.2 dollars, despite the drop beyond expectations in inventories US highlighted by Energy Information Administration data.
On bonds, the BTP-Bund spread is reduced to about 103 basis points, with the Italian ten-year yield down to 0.82%.
Returning to Piazza Affari, among the big Unipol Group (+ 6.4%) it closed against the trend, after Koru Spa announced its intention to purchase 24 million shares, equal to approximately 3.35% of the share capital, to a maximum purchase price 6.6% higher than the closing price on Tuesday. Money also on Exor (+ 1.3%) and Generali (+ 0.6%), while the greatest reductions concern Enel (-2.6%), Azimut (-2.2%) and Banca Mediolanum (-2, 2%).