“The decline ofinflation in the euro area recorded in the regional data for the past two days was higher than expected and points to a continued slowdown in price growth,” said European Central Bank Vice President Luis de Guindos, referring in particular to the data from the France released this morning and equal to +6% year on year, from +6,9% in April. The consensus was +6,4%. THE producer prices they dropped -5,1% month on month, from +1,90% in April. At 14 the German inflation comes out. Inflation also fell, but less than expected Italy the cyclical increase is 0,3% against an annual increase of 7,6%. Expectations were for a month-on-month decline of 0,1% and a year-on-year increase of 7,4%.
The governor's recommendation fits into this framework Ignazio Visco for “well calibrated” interventions on the interest rate front: the upward race must be rethought in the light of the data.
This reduces the urgency of tightening EU rates with immediate effects on the exchange rate: the US dollar records a sharp rise, reaching a high of 1,066 dollars, the lowest since 20 March.
Il yield of the XNUMX-year BTP drops to 4,07%, from 4,17% yesterday with the spread down to 181 basis points, the lowest level for two months. The German Bund is trading at a yield of 2,25% from 2,33% yesterday.
Stock exchanges focused on the US debt issue
These indications, for now, leave the cold Bags focus on the roof game at the short term US debtahead of the congressional vote. Milan it drops around 0,35% around 26.500 points, in line with the other price lists. The slowdown in eastern economies, starting with China, also weighed on industrial stocks. They fell by around 1,8%. Interpump, Leonardo e Pirelli. Still down Prysmian following the announced farewell of Valerio Battista.
Stellantis (-1,4%) announced this morning an agreement with the Australian Vulcan Energy Resources for the decarbonisation of energy supplies for the automotive group's activities. Not even the agreement in Asia between Daimler and Toyota on trucks, a step in the direction of M&A in the sector, stimulates the offer on Iveco -1,3%.
Down in luxury, Mps runs
It's worse luxury: the Eurostoxx of the sub-fund is the worst and loses 1,3% with Moncler which in Piazza Affari is down by 1,2% while in Paris lvmh loses 1,5%, Kering 2,2% ed Hermes 1,4%. Stocks in Switzerland are down Richemont (-2,5%) And Swatch (-4%) while in London Burberry loses 2,17%
In Milan the increases are concentrated on Mount Paschi +3,7%, supported by statements by CEO Lovaglio on the bank's good income prospects, the possible prey in the risk of the sector. "I reiterate for the umpteenth time that we have no intention of pursuing a merger project with Mps, it is not part of our plans". So the president of Banco Bpm Massimo Tononi, entering Bankitalia on the occasion of the governor's final considerations. “We have a stand-alone strategy that has made it possible to achieve really positive results and above all with which we still want to create a lot of value for our shareholders in the future,” he concludes.
Positive Fineco and (+1,2%) ed Unipol (+ 0,86%).
