Piazza Affari on a rollercoaster ride in this first part of the day, with the Ftse Mib which first opens with a minus sign and then recovers immediately but then drops as the hours pass. In fact, at 12, the figure is -0.27% at 33,502.88 points. Frankfurt also did badly at -0.23%, Paris instead it is at +0.20%.
Investors remain cautious ahead of a crucial week, with a focus on U.S. inflation data, due Wednesday and Thursday. These numbers will be key to the next decisions of the FOMC, the Federal Reserve’s operating committee, which will meet on September 17 and 18.
Amplifon slips, banks’ performance is not positive
The biggest increases on Piazza Affari see Erg in the lead with a 0.90% increase to 24.80 euros, followed by Enel which gains 0.81% to 7.111 euros. Italgas grows by 0.49% to 5.105 euros, while Nexi records a +0.44% to 6.454 euros. Campari marks a 0.34% increase to 8.248 euros, A2a advances by 0.33% to 2.10 euros and Inwit rises by 0.18% to 11.07 euros. Pirelli & C and Mediobanca grow slightly, by 0.11% and 0.10% respectively, while Diasorin reaches mid-day with a 0.10% increase to 103.35 euros.
Amplifon leads the declines with a loss of 5.12%, falling to 26.89 euros. Unipol follows, down 3.01% to 9.345 euros, while Banca Popolare di Sondrio loses 2.33% to 6.705 euros. Banca Monte dei Paschi di Siena also records a decline of 1.96% to 4.854 euros, along with Saipem which falls 1.94% to 1.846 euros. Iveco Group loses 1.66%, reaching 8.518 euros, while Bper Banca falls 1.20% to 4.767 euros. Telecom Italia falls 1.08% to 0.2286 euros, followed by Recordati (-0.87% to 51.40 euros) and Unicredit (-0.85% to 36.295 euros).
Stock Market 9am: Milan opens in the green, but the new Apple Watch causes Amplifon to collapse: waiting for the Trump-Harris confrontation
European stock markets opened slightly lower, before recovering shortly thereafter: Frankfurt at +0.03%, Paris at +0.33%, and the Ftse Mib at +0.20% to 33,497 points. However, the slowdown in inflation in Germany in August could favor a possible 25 basis point rate cut by the ECB on September 12.
The BTP/Bund spread remains stable at 145.5 basis points pending the issuance of a new 30-year BTP. Amplifon marks a significant decline after Apple’s announcement: the Apple Watch has introduced new notifications for sleep apnea and the AirPods Pro 2 offer the first global all-in-one experience for hearing health. Then there is anticipation in America for the confrontation between Donald Trump and Kamala Harris, which will take place tonight.
In Milan Amplifon and Stellantis are bad, Moncler and Campari are good
At the start of the session, it moves upwards Campariwhich stands at 8,356 euros, with a increase of 1.65%. This is because analysts at Bnpp Exane have revised upwards their recommendation on the company active in the beverage sector to “Overweight”. In addition to Campari, the major increases on Piazza Affari include Nexi (+1.03% to 6,492 euros), followed by Moncler (+0.98% to 50.40 euros) and Erg (+0.73% to 24.76 euros).
Saipem grows by 0.50% to 1.892 euros, while Intesa San Paolo And Mediolanum Bank both recorded an increase of 0.36%, respectively at 3.74 and 11.09 euros. Poste Italiane rose by 0.32% to 12.515 euros, Mediobanca by 0.30% to 15.21 euros, and Inwit closed with an increase of 0.27% to 11.08 euros.
Enel gains 0.13%, rising to 7.063 euros, and is preparing to exit Vietnam, according to sources cited by Reuters. This decision marks the latest in a series of Western company withdrawals from renewable energy projects in the country, which is struggling to implement its decarbonisation plans.
At Piazza Affari it collapses instead Amplifier, which drops 6.88% and falls to 26.39 euros, after Apple introduced new sleep apnea monitoring features with the Apple Watch and an all-in-one functionality for the hearing health with the AirPods Pro 2, including a clinical-grade over-the-counter (OTC) hearing aid feature. According to Equita, this novelty could expand the hearing care market, benefiting companies such as Sonova and Amplifon, but also intensifying competition for incumbents.
Among the banks, Unicredit loses it 0.30% at 36.49 euros despite the successful placement of a 1 billion perpetual Additional Tier 1 bond, with orders exceeding 3 billion.
In the automotive sector, Stellantis falls by 0.70% to 13.96 euros. The US agency for auto safety has launched an investigation into over 781,000 Jeeps, including the latest-generation Wrangler and Gladiator models, following reports of underbody fires. Citi confirms its neutral rating on the stock with a target price of 15 euros.
Trump-Harris Faceoff: The Effects It Could Have on the Stock Market
Investors are already counting down the days until the board of directors meeting of the European Central Bank on Thursday, which could lead to an interest rate cut. U.S. inflation data, due on Wednesday and Thursday, will also be monitored, which will influence the decisions of the Federal Reserve’s FOMC, scheduled for next week (September 17 and 18). After signs of a slowdown in the U.S. economy, some analysts (29% according to the FedWatch Tool) hypothesize a possible rate cut of up to 50 basis points.
Meanwhile, there are just a few hours left until the debate between Donald Trump and Kamala Harris, the Republican candidate and Democratic rival for the White House. The debate, which will be broadcast live by ABC on September 10 at 2:00 American time (3:00 on Wednesday September 11 in Italy), could be crucial for the Presidential 2024. Currently, financial markets still reflect Trump’s supremacy, even though the gap between the two candidates in the polls has practically disappeared.
History shows that election years have generally had a positive impact on US stock marketwith an average growth of at least 10%. However, there have been two notable exceptions: 2000, during the dotcom crisis, and 2008, following the bankruptcy of Lehman Brothers. This time, however, uncertainty is particularly high due to the tightness of the polls between the two candidates. This uncertainty could persist even after the vote, leading to greater volatility in the markets, both before and after the election.
In terms of candidate preferences, markets have historically performed better after a Republican victory. This trend could continue, given that the two candidates’ positions on major economic and political issues are sharply contrasting. Trump Media Actionsthe parent company of the former President’s social media platform Truth Social, closed sharply higher yesterday (+5.5%) on Wall Streetafter having archived significant losses in the most recent period.
Could Bitcoin Hit $80K? What Experts Say
The tycoon has definitely embraced the cause of Bitcoin and cryptocurrencies generally, publicly declaring his support for this market. The Donald has publicly declared his support, also participating in industry events.
According to Bernstein, the value of Bitcoin this year could reach 80,000 dollars in the event of a victory by the former American President, who in the past had appeared more sceptical towards this market.
Spread at 145 points: the details of the BTP auction
The BTP/Bund spread remains stable at 145.5 basis points, with the yield on the 10-year BTP slightly up to 3.55%. On September 9, the Treasury commissioned a group of banks to issue a new 30-year BTP, maturing October 1, 2054, which is scheduled to be launched today. Consequently, at the auction on Thursday 12, the Treasury will not offer the extra-long BTP, but will make up to 6.5 billion euros available for the reopening of the three- and seven-year BTPs. In addition, today, the European Commission will issue a new bond maturing in December 2031 and will reopen the bond maturing in February 2050.
