On the one hand, the new European appointments appreciated by the markets (especially that of Christine Lagarde at the ECB, in the sign of continuity with Mario Draghi's expansive policy), on the other, the infringement procedure avoided by Italy and here we are Piazza Affari returns above the psychological threshold of 22.000 points. And the markets don't care if a correction of around 7 billion was needed to avoid the rejection by Brussels, 2 of which in cuts to public services: on Thursday in Milan it was above all the banks who toasted and brought the Ftse Mib to values that in 2019 he had only touched in one session, that of April 17, and which he had basically not seen for over a year now (the record of 24.500 points is dated May 7, 2018).
The other European lists also tend to be in tune, but more cautiously: while the Milan Stock Exchange gains about half a percentage point just before lunchtime to 22.028,78 points (12,45 am), Frankfurt, Paris and London are all and three just above parity, while Madrid is in negative territory. The Btp Bund spread, which yesterday had closed just below the 200-point threshold at 199 basis points, opened by still limiting the decline down to 194 bps, only to then climb back up to the 200 bps area: since the beginning of the year, the differential between the Italian ten-year the German fee decreased by 12,6%.
On the Ftse Mib as mentioned the banks rule: the lot of the best sees Ubi Banca, which flies with 5%, Unicredit - which has just announced the sale of non-performing loans in Bosnia for over 24 million – with +4%, followed by Banco Bpm and Bper with gains of over 2%. Intesa Sanpaolo hooks the 2 euro per share, which increases by about 2% just before 13 pm. Finecobank also does well +1,2%. On the other hand, among the stocks in negative territory, Atlantia -1,3%, whose ordeal continues in the long dispute with part of the government majority, which has already caused the company that manages the motorways to burn several billions and ended up in the crosshairs after the collapse of the Morandi Bridge in Genoa. Leonardo refuses -1,5%, after the rally of the last month which brought the share from 10 to 11,5 euros. Juventus -1% on Buffon Day: the goalkeeper returns home after a year at PSG.
Oil: Brent stable at just under 64 dollars a barrel, while Wti is giving up something, which today is worth 57. The euro-dollar exchange rate was also stable, at 1.128735, while the gold boom deflates a bit: the latest price is 1.415 dollars an ounce.
