For stock exchanges it is “Remain”. All the stock exchanges of the Old Continent closed sharply higher on the decisive day for Brexit. Today His Majesty's citizens are called to vote on the Referendum to remain or leave the European Union.
Milan runs driven by the banks and scores a +3,71%, Paris +1,96%, Frankfurt +1,85% and London +1,2%. The vote closes at 23 pm Italian time and the final results will be available tomorrow morning around 7 am, therefore before the new opening of the markets. The Finalcial Times reports the latest polls which give the "remain" advantage and the Stock Exchanges show confidence that the counting of the votes will confirm the polls.
The Btp-bund spread narrows again to 131 basis points and a yield of 1,41%.
The Treasury has announced an auction of six-monthly BOTs for 28 billion euros for 6 June. On the raw materials front, the price of oil is on the rise on the markets following the statements by the Saudi energy minister: the imbalance between supply and demand, he said, has now been reabsorbed. WTI futures rise to 49,44 dollars (+0,5%), Brent trades at 50,14 dollars.
Wall Street also jumps in the wake of the pro "remain" polls. On the macro data front, several data released today: the Kansas City Fed manufacturing index rose by 2 points in June, the economy super-index fell 0,2% below estimates in May, as well as below estimates were the sales of new homes in May (-6% to 551 against estimates of 553), the PMI manufacturing index rose to 51,4 points above estimates. The euro-dollar exchange rate rose by 0,21% to 1,1359.
Ubi Banca rises in Piazza Affari +9,92% awaiting the publication of the industrial plan expected for Monday, followed by Unipol +7,75%, Bper +7,67%, Unicredit +7,24%, still awaiting the appointment of the managing director. The Puls Biznesu newspaper writes that Unicredit, with the help of Morgan Stanley, is verifying whether the Polish government is interested in buying Pekao. Banco Popolare +6,47% celebrates the successful outcome of the increase.
Eni recovers, +3,26%, after sales following the news of the halt to the sale of Versalis. Enel (+2,46%) and Terna (1,76%) also performed well. Energy stocks lengthen in the final in the wake of the signing by the Minister of Economic Development, Carlo Calenda, del decree that redesigns the entire incentive and development system for green energy over the next twenty years, allocating 435 billion a year until it reaches 9 billion.
No Ftse Mib stock closes in the red. In May, the collection of mutual funds returned to positive territory and the total balance of flows from the asset management industry thus rose to 3,1 billion euro from the 2,4 billion obtained in April. Azimut advances by 2,8%, Banca Mediolanum +3,36%.
