Mario Draghi's balance and coherence leave the European lists lukewarm, which after the intervention of the president of the ECB slow down, to close with little movement. Business Square rises by 0,11% to 20.177 points, with the banks a bit disappointed, while holding the bench the FCA case, +0,09% floating on the Ftse Mib after the farewell to Renault (-6,4% in Paris) due to the lack of "political conditions in France". "The choice to interrupt the dialogue was not taken lightly - wrote John Elkann in a letter to employees - but with one objective in mind: the protection of the interests of our company and of those who work here, clearly taking into consideration all our stakeholders”.
Frankfurt loses 0,2%; Paris -0,26%; Madrid +0,2%. Outside the eurozone they are positive London +0,6% and Zurich +0,25%. In the morning also use Wall Street seems cautious, with investors on the one hand continuing to hope for a rate cut by the Federal Reserve, and on the other eyeing with apprehension the various open trade fronts. Immigration negotiations with Mexico resume today in Washington, after nothing happened on the eve. An agreement could prevent 10% duties from being triggered on June 5 on all imports from the Central American country.
THEeuro it strengthens against the dollar, reaching the 1,129 area. Among the raw materials the Petroleum Brent type retreats to 60,57 dollars per barrel (-0,1%), while gold proceeds and is currently approaching 1338 dollars per ounce.
The Italian secondary closed slightly positive, with lo spread down but yields up slightly. The 10-year BTP rate is 2,5%, the differential with the Bund drops by 1,98% to 272 basis points.
However, Italy must commit to a credible plan to reduce its debt, warns Draghi. A medium-term plan and not too quick but serious, while minibots are not the solution, because "either they are currency, and therefore they are illegal, or they are debt, and therefore the debt stock rises". At today's meeting, the ECB left rates unchanged at least until mid-2020 and the Council even "discussed new rate cuts and Qe recovery”, but those who expected an even more expansive attitude were disappointed, because the probability of a recession “remains low”. The new round of Tltro loans to banks is coming, but the novelty is that the rate of future auctions could reach 10 basis points above the average rate. These are "slightly less attractive conditions than those" of 2016, write the analysts of Mps Capital Services, who define the reaction of the stock lists "in the wake of the perception of an ECB less dovish than expected".
In Piazza Affari the banks, after a crackling start, close in the red. The worst, Bpm bank, leaves 1,95% in the field. He suffers Azimuth, -3,06%%, which was affected by the 'sell' of Ubs. In managed savings, it also closes badly General Bank, -2,14%, which on June 24 he will have to leave the post a nexi (+2,27%) on the main list. Declining the Juventus -2,27%, after yesterday's brilliant performance. Below Telecom -2%.
It regains altitude Ferrari, +1,86%. Stay out the luxury with Ferragamo, +1,52%. The utilities are appreciated, Terna +1,57%; A2a +1,48%; Enel + 1,4%.
