I fears about the stability of the Eurozone they still affect the European lists which close in negative territory. Although today, in the Greek saga, it is the Greek Finance Minister, Yanis Varoufakis, who throws water on the fire, who he said Athens will pay the installment from 312 million owed to the IMF on June 5, because by then the agreement with the creditors will be reached. At the same time Varoufakis announced a bank transaction tax and an amnesty on hidden overseas deposits by taxing them at 15%.
Piazza Affari manages to snatch the plus sign and closed up 0,18% thanks to luxury with Ferragamo +3,66%, the best share on the list together with FCA +3,66%, and Tod's +2%. The effect is all Chinese: from June 6,8, China will halve the duties on many luxury goods. Meanwhile, the IMF has reassured the Chinese economy that it is moving towards a "new normal" that aims at safer and better quality growth, albeit slightly slower". The estimate is for GDP growth of XNUMX% this year. Furthermore, for the IMF, in light of the recent appreciation of the yuan, the Chinese currency should no longer be considered undervalued, but the Beijing government must speed up the process to reduce control over the exchange rate.
On the currency front, the euro loses ground against the dollar supported by the good macro data published today in the US which suggest an increase in the cost of money which is not so distant. The euro-dollar exchange rate dropped 0,96% to 1,0873. The weakness of the single currency, an element that plays in favor of the economic recovery, does not however help the lists to gather courage: Frankfurt loses 1,61%, London 1,18% and Paris 0,66%. The Btp bund spread, according to Bloomberg data, after a fluctuating session and a rise above 140 points, closes at 136 basis points and the ten-year yield is 1,95%.
Also Wall Street travels in the red: the Dow Jones is down 1%, the S&P500 is down 0,94% and the Nasdaq is down 1,10%. The markets are feeling the effects, paradoxically, of the good macroeconomic data published today which for operators are approaching the time when the Fed will decide to raise interest rates.
Better than expected, US new home sales rose 6,8% from March to 517 units. Consumer confidence also beat estimates, which rose to 95,4 points in May from 94,3 points the previous month. The index which measures the trend of manufacturing activity in the Richmond area is in line with expectations, reaching one point in May from -3 in April. WTI oil dropped 2,58% to 68,18 dollars a barrel.
Also highlighted in Piazza Affari Finmeccanica +2,96% and Exor +1,56%. At the bottom of the main basket, however, there is Mps which on the second day of the increase tumbles by 16,82% to 1,78 with rights dropping by 9,28% to 5,57. Enel Green Power -1,72%, Saipem -1,07% and Terna -1,02% are also among the worst performers in the Ftse Mib.
