Milan closes at -0.35%, for Piazza Affari down 3% on the week

Minus sign in Milan, today it is the only one to fall by 0.35% while the other major European exchanges have recovered: London +0.47%, Frankfurt +0.39%, Paris +0.75%.

On the other hand, the balance for the whole week was negative, after a very positive July: for the Ftse Mib in Milan -3.04% compared to last Friday’s close, the index stands at 28,602 points.

This week’s major event was Fitch’s downgrade of the US debt Tuesday night.

Today, after some volatility, Wall Street is also up: +0.6% for the Dow Jones and S&P 500, +0.90% for the Nasdaq; Over the week, the Nasdaq saw its biggest drop (-1.70%), which was the hardest hit by Fitch’s decision.

Today’s jobs data in the United States gave mixed signals: jobs rose by 187k, below the 200k expected, but the unemployment rate fell unexpectedly from 3.6% to 3.5%. Overall, the data should not change the Fed’s stance: a pause in rate hikes is expected in September.

Important quarterly day. It lags behind Amazon Accounts, +9.75%: The company beat sales estimates, thanks largely to its cloud division. Apple, on the other hand, fared poorly at -4.45% after numbers showed a third consecutive quarter of decline in sales. iPhone sales are down while the services division continues to grow.

Mps stands out in Piazza Affari, +2.80% after quarterly closing: the bank closed the first half of 2023 with a profit of 619 million, more than 10 times the result of the previous year.

Accounts disadvantaged Interpump by -4.73%. This was despite 15% revenue growth and 25% EBITDA growth.

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