The indications from the US labor market push Piazza Affari into red. The Ftse Mib stopped at 26,064.78 points at -0.64%. In parity until mid-session, the Ftse Mib slipped into negative territory after the publication of the numbers relating to the trend of the labor market of the first economy: in August the balance of payslips in the non-agricultural sectors, the so-called non- farm payrolls, was positive for 235 thousand units, one third of the 720 thousand units expected by operators. The unemployment rate, on the other hand, went from 5.4 to 5.2 per cent, while wages rose by 0.6% per month, double compared to expectations. Despite these indications that end up further prolonging the process of withdrawal of the extraordinary stimuli by the Federal Reserve, and that postpone any discussion on a future rate hike to a later date, the markets have slipped negative. “The reaction in counterintuitive part of the short-term market (rising rates with inflation expectations that are starting to rise in the long-term sector) signals the fear that the Fed, under the pressure of the hawks, could question the hypothesis of temporary inflation, to due to the risk of the wage / inflation spiral ”, said Antonio Cesarano, Chief Global Strategist of Intermonte. In Milan, where the Ftse Mib stopped at 26,064.78 points, -0.64% compared to the previous figure, among the worst performances we find those recorded by Moncler (-1.46%), Campari (-1.12% ) and Interpump (-1%). Utilities are also in the red, with Terna’s -0.95%, Italgas’s -1.06% and Enel’s -0.85%. Negative day also for Nexi (-0.76%) after the news that the Antitrust has started an investigation on the merger between with SIA. According to the Authority, the transaction could lead to “the establishment or strengthening of a dominant position by the new entity with horizontal, as well as vertical and conglomerate effects”. Weak also Generali (-0.29%) after the rumors reported by Il Sole 24 Ore: in addition to the possibility of a third term of Philippe Donnet, the hypothesis of the appointment at the top of a tandem formed by Luciano Cirinà and Sandro Panizza is being studied. Among the few plus signs we find UniCredit (+ 0.65%). The CEO of Piazza Gae Aulenti, Andrea Orcel, noted that the due diligence on Banca Mps (-0.09%) is proceeding in line with the agreements made with the Treasury. Despite the definitive award of a 1.26 billion contract for two sections of the Pedemontana Lombarda motorway, Webuild retraced the gains of the first part closing flat (-0.09%). The BTP-Bund spread ended in increase of over 2% to 107 basis points. (in collaboration with money.it).
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