The Treasury is full of BTP. During this morning's auctions, five-year bonds worth 3,5 billion and 10-year bonds worth 3 billion were assigned, with the question which exceeded 4,5 and 3,9 billion respectively. The cup of interest it was equal to 1,84% for the five-year bond, down by 4 basis points, and to 3,33% for the 10-year bond, down by 7 basis points. Yields on 5-year BTPs thus record a new all-time low.
The auction of the Ccteu at 5 years. The Treasury has allocated 2,28 billion, against a request for 3,24 billion, with a gross yield of 1,32%, up by 2 basis points.
Also in the wake of these results, the rise of Business Square, which in the middle of the day is the best of the main European stock exchanges: Milan gains 1,26%, followed by Frankfurt (+ 0,87%), Paris (+ 0,63%) and London (+0,55%). Less well it BTP-Bund spread, which edged up slightly to 165 basis points.
On the currency front, the euro trades at 1,38734 dollars (1,3842 yesterday) and 142,3375 yen (141,92), while the dollar/yen exchange rate is at 102,638 (102,05). Petroleum up 0,29%, to 101,13 dollars a barrel.
There is a climate of confidence on the markets as we await the start of the two-day meeting of the FOMC, the monetary policy arm of the Fed. Reassurances also come from the front of the Ukrainian crisis, with Moscow yesterday promising Washington not to invade the Village.
On the Ftse Mib Fiat leap of 3,17%, still in the wake of rumors about the spin-off of Alfa Romeo.
On the rise Mediaset (+2,96%): the market is still betting on an agreement on pay TV, with the possible entry of Qatari capital through Al Jazeera and Vivendi with Canal Plus.
Also good Eni (1,91% after the quarterly), Telecom (+ 2,40%), Rest (+ 3,48%) and Atlantia (+ 2,95%).
After a rough start, move into positive territory stm (+1,71%), than today has published accounts judged positively by analysts.
Day of quarterly also abroad, with the publication of results of Nokia, Volkswagen, Gazprom and Hermès. Declining trading weighs on Deutsche Bank earnings.
On the macro front, Istat announces that in February the seasonally adjusted index of retail sales it recorded a decrease of 0,2% compared to January and 1% year-on-year.
In April, however, it got better the climate of trust for the main groupings of industries (Rpi): for consumer goods the index increased from 99,5 to 99,7, for intermediate goods from 100,4 to 101,1 and for capital goods from 98,4 at 99,9. The confidence climate index for construction companies was down, to 74,8 from 75,6 points in March. Lcomposite climate index of confidence of businesses, however, fell to 88,8 points, from 89,5 in March.
As for Germany, according to data released by Gfk, German consumer confidence is estimated at 8,5 points for the month of May, the highest since January 2007.
