(Il sole 24 Ore Radiocor) European stock markets down, after the good performance of the eve. The sales are encouraged by the numbers published overnight by Amazon, which are also penalizing futures on Wall Street. The giant founded by Jeff Bezos reported quarterly results below analysts’ expectations, for the first time in three years. It also announced disappointing forecasts for the third quarter of the year. In particular, in the period April-June the profit was 7.78 billion dollars, on a turnover equal to 113.08 billion dollars. While this is an improvement over 2020 profits of $ 5.24 billion, on sales of $ 88.91 billion in the same period of the previous year, expectations were for earnings per share of $ 12.30 on a turnover of 115.2 billion dollars. Asian stock exchanges are also weak. In the meantime, the quarterly season continues at full speed, while investors continue to keep their guard high also on the trend of Covid-19 infections and their impact on restrictions to limit their spread. Restrictions that could again impact the economy.
In Milan, eyes on Unicredit
In Piazza Affari, eyes focused on Unicreditt, after the bank announced that it had opened the channel for talks to take over Banca Mps commercial activities. “UniCredit and the Ministry of Economy and Finance, in its capacity as majority shareholder of Banca Monte dei Paschi di Siena, have approved the conditions for a potential transaction involving the commercial activities of Mps, through the definition of a selected and adequate risk mitigation measures. To this end, they will initiate exclusive discussions to verify the feasibility of the operation ”, was announced yesterday, July 29, late in the evening. The institute led by Andrea Orcel also released the accounts for the second quarter, filed with net profit doubled to 1.03 billion, a level higher than expected.
Also under the lens Eni and Saipem
They are also under the lens of Eni and Saipem, after the publication of the six-monthly report. The former announced that it had hooked up pre-Covid adjusted net profit levels in the second quarter, for a value of 0.93 billion. for the entire half year the result was 1.20 billion. Saipem, on the other hand, closed the January-June period with a net loss of 779 million.
Euro points to $ 1.19, crude oil holds back
Finally, on the exchange rate front, the euro is approaching the threshold of $ 1.19, which it moved towards on the eve of the day on which the estimates of US GDP for the past few months were released. The currency is worth $ 1.1877 (from 1.1884 yesterday). It is also trading at 130.18 yen, while the dollar-yen is equal to 109.6. After yesterday’s rally, the value of crude retraces: the price of the wti, contracted in September, is now at 73 dollars a barrel, down 0.75%.