Today’s Stock Exchanges, July 12th. Positive markets awaiting US prices

Inflation slows down in Spain

Good signs for the Eurozone from Spain where inflation slowed in June to 1.9% on an annual basis, 1.3 points less than the previous month and the lowest since March 2021, thanks to the performance of fuels, electricity and foods, which increased by 10.3%, 1.7 points less than in May. According to the data of the consumer price index (Ipc) confirmed by the National Institute of Statistics (INE), the basis of this moderation in the price increase is the decrease in fuel and electricity, while among the products foodstuffs, vegetables decreased and fruit, bread and cereals and meat increased less. As regards the annual core inflation rate, net of fresh food and energy, Ine confirms that it has fallen by two tenths of a percentage point to 5.9%.

Positive European markets at the start

European stock markets opened higher, helped by a positive close on Wall Street, with attention turned to the release of key US inflation data. At the moment, the Frankfurt Dax gains 0.36% to 15,847.25 points, the Paris Cac rises by 0.37% to 7,246.93 points, the London FTSE scores +0.35% to 7,308.26 points, the Madrid Ibex is +0.25% at 9,354.52 points.

Declining closure for Tokyo and the Chinese indices

Closing in sharp decline for the Tokyo Stock Exchange, with the Nikkei index marking -0.81% at 31,943.93 points at the end of the session. The Chinese Stock Exchanges did no better, with Shanghai closing at -0.78% at 3,196.13 points and the Shenzhen Component at -0.98% at 10,921.679 points. On the other hand, the South Korean Kospi went against the trend, closing up by 0.48% at 2,574.72 points.

Milan starts well

Piazza Affari starts the session well on a day in which investors’ interest will be catalysed by the US inflation data in the early afternoon. The Ftse Mib advances by 0.52%, once again coming close to the highs since 2008 set a few days ago. Leading the purchases on the main list are Stm (+2.5%), promoted by Jefferies and Banca Akros, Stellantis (+1.5%) and Banco Bpm which increases by 1.4% after the exclusivity granted to FSI to enter the money business. All the banks did well, with Bper (+1.2%) and Mps (+1.2%) in light while Unicredit rose by 0.8%, benefiting from the increase in the target price to 27.8 euros by Redburn . Outside the Ftse Mib runs Tod’s (+2.6%) promoted to ‘buy’ by Bryan Garnier. On the other hand, Nexi (-1.1%) went against the trend, for which the race for Banco Bpm’s cards and pos did not succeed, and Campari (-1.1%), which discounts the cut in the judgment by Citi, worried from the execution risks of a possible major merger.

Oil, prices little moved on the Asian markets

Oil prices barely moved on Asian markets, after supply cuts announced by major exporters Saudi Arabia and Russia and pending economic stimulus in China. Wti scores +0.01% at 74.83 dollars a barrel while Brent is close to 80 dollars a barrel, at 79.46 dollars (+0.06%).

Positive futures for European stock exchanges, Wall Street cautious

A positive opening is expected for the European stock exchanges, which yesterday closed higher. While awaiting the key data on inflation in the United States, which will influence the Federal Reserve’s next decisions, futures on the Euro Stoxx mark +0.46%, those on the Dax index +0.34% and those on the Ftse index + 0.03%.

Instead, be wary of Wall Street. Futures on the Dow Jones mark a decrease of 0.02%, while those on the Nasdaq increase by 0.13% and those on the S&P register +0.05%. Yesterday the US Stock Exchange closed up with the index of industrial stocks at +0.93% and that of technology stocks at +0.55%.