The spectrum of default Use agitates the markets more every day, while British inflation disappoints and fuels fears about the next choices of central banks, waiting for this evening, at 20 (Italian time), the Fed to publish the minutes of its last meeting.
Le European squares thus close in deep red, after consolidating losses following the weak start of Wall Street.
Business Square it is the worst and drops by 2,39%, abandoning 27 basis points to stop at 26.524 points. Losses affect practically all sectors, but banks are particularly penalised. It's an exception Mediobanca, +1,92%, best blue chip of the day, after the presentation of the new industrial plan to 2026 which sees revenues of 3,8 billion in June 2026 (+6% annual average) and total remuneration for shareholders higher than expected, at 3,7 billion (+70%).
In the rest of Europe Frankfurt retreats 1,92%, Paris 1,7%, London -1,74% Amsterdam -1,55% Madrid -1,07%.
Resumption of debt talks; Yellen optimistic
The negotiations on raising the US debt ceiling they resumed in the American morning, even if in recent days the meetings have not produced great results.
The Treasury Secretary Janet Yellen, it seems though optimistic. Yellen confirms her department's predictions, saying it's "almost certain" the US will default in early June, with no deal between Republicans and Democrats, but speaking at an event in London hosted by the Wall Street Journal, she says also to be "confident", because an agreement "is still possible".
In the meantime, however, yields on short-term Treasuries continue to rise, with the one-month bond rate reaching another all-time high of 5,8920%, also because an agreement would in any case lead to new debt and the markets don't like this.
To stir up the waters of Europe today have contributed then theBritish inflation and German business morale.
Consumer prices in Britain they increased by 8,7% in April in annual terms, down from 10,1% in March, but more than expected and at the highest level among the G7 economies together with Italy.
In May, however, it went down there'ifo index which measures the confidence of German businesses: 91,7, from 93,4 in April and against expectations at 93.
Finally, to the list of Western concerns one could add the fact that the Russian prime minister said he had signed a series of agreements with the China during a trip to Beijing and that relations between the two countries are today at a level never reached before.
Oil in dust with decline in US inventories
The foreign exchange market is flateuro-dollar to 1,0766, while the New Zealand dollar lost more than 2% against the US currency after the country's central bank announced the achievement of the peak on rates.
Back the GBP, which weakens against euro and greenback.
Among the raw materials runs the Petroleum, with Brent and WTI futures up 2%. A big boost to prices came from the weekly drop in US inventories, the largest since last November: -12,456 million barrels to 455,168 million units, according to data released by the Energy Department, against expectations for a rise of 0,7 million barrels. The energy minister of Saudi Arabia may have also contributed to fueling the speculation, saying he "be careful" of traders who bet on falling prices. For some investors, words conceal the possibility that OPEC+ will consider further production cuts at its June 4 meeting.
The price of gas in Amsterdam, on the other hand, it drops more and more: -4,8%, 27,73 euros per Mwh.
Piazza Affari: only four blue chips on the rise
The short list of blue chips from Business Square up today includes, in addition to Mediobanca, Prysmian +0,46%, which makes use of the positive indications provided by the group's top management during the three-day meeting of the main listed companies with the financial community, organized by Kepler-Cheuvreux at the Unicredit tower. Crude prices are holding afloat Tenaris +0,24% ed Eni +0,03%, but not enough to save Saipem from a drop of 4,53%.
The long list of big caps in red starts from Mount Paschi, -7,1%, which pays off the steep bill for the rally of recent days.
In the banking sector they are largely negative too Bper -4,29% and Unicredit -4,19%.
The session is to be forgotten for the automotive sector: Pirelli -5,03% and stellantis -4,06%.
Technologists go down with stm -5,42%.
And not even the defense holds its levees: Leonardo it falls by 4,99%, penalized according to some observers by the tug-of-war over the US debt, with the risk that resources will also run out for armaments. The relegation of the title by Goldman Sachs also weighs, which led it to neutral from buy.
Spread slightly up
Lo spread closed slightly up at 187 basis points (+0,72%). Yields showed little change: the 10-year BTP is indicated at +4,32%, while the Bund with the same duration is +2,45%.
