The European bags close the last session and the week down, serving greater caution in view of the September entrance, which should bring with it many innovations, especially from the central banks. The prudence therefore imposes itself, also because the month of September that is entering closes a crucial quarter for the markets, which focus on greater certainties for the near future on the front of tax and monetary policies and in the geopolitical field.
The uncertainty still assillates the markets
Macroeconomic uncertainties contribute to keeping the markets at bay, especially for the uncertain impact of the duties imposed by the USA to the main commercial partners. Then there is the geopolitical question, linked to conflicts in Ukraine and Middle East, while the possibility of a meeting between Putin and Zelensky is more remote.
Do not underestimate the emerging risk of France, after the Minister of Finance Bayrou has announced a revision of tears and blood expenditure, due to excessive deficit and debt cost.
The next moves of the Fed
The month of September will also be crucial for monetary policy, which could see the Fed return to move interest rates, while the ECB is already close to the neutrality rate and has a close room for maneuver for the next few months. Fed side are still waiting for two cuts for about half a percentage point by the end of the year.
A correction from new records
European bags show a weekly performance in the negative complex. The worst is Paris that gives 2.5%, also closing August of 1.5%. The FTSE MIB index of the Milan Stock Exchange gives 1.9% on the week, but closes the month on the rise of 2.6%.
Same trend for Madrid that records a 2.3% decrease on the week and a 5% rise on the month. Frankfurt marks -1.2% on the week, closing the month of August on equality (+0.14%). London records a 1,% drop on the week and a 6.5% progress on the month.
The markets therefore affected some profit sockets, also coinciding with the new records achieved by Wall Street, which in the latter session corrects from the maximums achieved.
The best and worst in the week
Among the best of the Moncler week and Stmicroelectronics with rise over 6%.
Under the spotlight Brunello Cucinelli, who announced strongly growing half -yearly accounts, with a net profit of 76.7 million, up 16% on the same period of 2024, revenues of 684.1 million ( +10.2% with current changes, +10.7% to constant changes) and an Ebit of 113.8 million, increasing 8.8%.
Leonardo with a progress of 2.8% guides the defense sector, where Fincantieri also highlights, reaching new historic tops.
Among the worst of the TIM week, (-9.9%), after Iliad’s benservito, who placed a tombstone on possible aggregation negotiations, after the interruption of interviews in April.
It also built on banks, especially Unicredit (-4.3%), which this week announced the conversion of a further tranche of derivatives in comrazbank shares, reaching a 26%share.
