The European stock exchanges are heading towards a positive closure, rebounding after Thursday's losses. Milan advances, recovering one point of the two lost on the eve, just above 21.800. On positive ground Frankfurt (+ 0,4%) and Paris (+0,7%). The suburbs are better: Madrid + 0,9% Athens +2% after last night's good news. After eight years the era of the Troika is over: the agreement with the EU provides for the extension of the Greek repayment terms by ten years on 97 billion of loans related to the second bailout intervention.
Lights and shadows have emerged from the PMI index of the Eurozone. Although the June data recovered compared to May and was better than expected, the survey reveals that the risk of a slowdown in the second half of the year remains strong The eurozone composite PMI June preliminary report, processed by IHS Markit, stood at 54,8 points, recovering from 54,1 in May, but manufacturing however fell to 55 points from 55,5 in May.
It drops to 2,68% the Italian XNUMX-year yield, from 2,71% yesterday; the German one rises to 0,35%. All for the benefit of spread BTP/Bund, recovering to 231 basis points from the 241 of yesterday's slide.
The 25-year Greece/Germany spread narrows by 367 basis points (4) for a yield on the government bond issued by Athens of 50%. The decline on the five-year maturity was more pronounced: -320 basis points to 2,90, yield 136%. The most sensational news is that the Italy/Greece differential on ten-year maturities drops to 2009 basis points, the lowest level since 250. At the end of March it was XNUMX basis points.
tractate the euro against the dollar to 1,166, +0,5%.
Il Brent oil up 1,3% to 73,9 dollars a barrel. A few moments ago the bilateral summit between Saudi Arabia and Iran ended in Vienna: the OPEC plenary assembly had not opened precisely to make room for this latest attempt at an agreement. At the end of the meeting, the Iranian minister, the same one who controversially abandoned the preparatory work tonight, said that there is a good chance of reaching an agreement on production around an increase of one million barrels.
Eni + 1% Saipem + 3% Tenaris Up 2% after restarting production at its Texas plant, which was halted three years ago due to lack of demand.
In the business square B for Bank (+7,4%) at the top of the list: Unipol (+1,2%) announced last night its intention to buy 5,2% of the bank at a premium of around 6% on yesterday's prices. The Bologna financial group, which through UnipolSai (+1,5%) it already holds 9,87%, it will evaluate the possibility of rising to 19,9% in the coming months "but it has no intention of exercising control over the Modenese institute". In a press release, the Bolognese insurance group specifies that in the next six months, Unipol "will evaluate the possible further increase of its shareholding in Bper also in the light of what will be the plans and prospects for the bank's development and the general conditions of the market ”.
Salt too Bpm bank (+3,2%): Credit Suisse has started hedging with a Buy rating. Where's Banca + 2,4%.
Tim (+0,7%) always at the center of controversy. During Monday's board meeting, the independent directors will ask the reason for the accusations against them by the managing director Amos Genish.
Diasorin (+5,8%) the best among the Mid Caps after KeplerCheuvreux raised the rating.
Also good Astaldi (+2,5%), which was awarded three new construction contracts for a total of 243 million euros for projects in Italy, Poland, Sweden and Mexico.
It also flies As Roma (+ 7,6%).
