Il collapse of Airbus and a certain political nervousness, in view of the first French vote on Sunday, reports today sales on European markets which closed lower, after the lively session the day before. At EU level there would instead be an agreement on top appointments and von der Leyen's second mandate at the top of the Commission.
Overseas Wall Street proceeds uncertainly in the middle of the day, although the rebound of Nvidia (+5,6%) you definitely tone up Nasdaq (+ 1,08%) and S & P500 (+0,27%). However, the DJ is moving away from the levels reached yesterday (-0,73%) and volatility remains lurking while awaiting the PCE data on theUS inflation of May. Meanwhile, US consumer confidence is declining and news comes from Canada that prices have recovered last month, shortly after the surprise rate cut at the last meeting.
Europe in decline with Airbus in a nosedive
Defense, space, industry are sectors that are under pressure today in Europe, where Business Square limits losses to 0,38% thanks to purchases in the energy sector (Saipem +3,61%.
The balance sheet is worse a Frankfurt (-0,94%) And Paris (-0,58%) where Airbus loses almost 10% due to cutting industrial and financial targets and setting aside 900 million euros for its struggling space activities.
The German drug manufacturer is also in the red on the Dax Merck (-5,9%), which announced the stop to the testing of xevinapant for advanced head and neck cancer.
He doesn't fare much better Madrid -0,52%, despite the first quarter GDP growing above estimates, +0,8%, compared to the previous reading (+0,7%); +2,5% annual rate.
London drops 0,41%, while Amsterdam took advantage of the rebound in chip sector stocks to end a colorless session.
US consumer confidence drops; Bowman (Fed), no to rate cuts in 2024; Inflation rises in Canada
While waiting for the key inflation data of the week, today it emerges that Americans are less optimistic about the economy in June compared to the month before. The confidence index drawn up monthly by conference board, a private research group, fell from 101,3 in May (revised from the initial 102) to 100,4 points, against expectations of 100 points. Expectations for the future drop from 74,9 to 73 points; those on the current situation rise from 140,8 to 141,5 points.
Every flurry of branches, at this stage, is useful for investors to evaluate the path the Fed intends to follow in the coming months, even if two pieces of news today cooled expectations of a rate cut.
Michelle Bowman, member of the central bank's board, during an event in London, said that he does not foresee a cut in interest rates in 2024, but only in 2025, if the inflation processes do not stop.
Meanwhile, in Canada, just three weeks after a first rate cut, consumer prices for the month of May are rising: +0,6% on April, +2,9% per year (after +2,7% in April), an acceleration mainly due to the services sector.
Piazza Affari, Leonardo retreats; weak banks
The performance of Piazza Affari reflected that of the other European stock exchanges. It is at the bottom of the list Leonardo -2,92%, in the wake of losses in the aerospace sector. Yesterday the defense group also announced the 4-month stop to production at the Grottaglie site of the Aerostructures division due to the reduction in production by Boeing.
Rewinds the tape quickly telecom, -2,64%, after the gains of the day before and retreating Interpump -2,57% Diasorin -2,19% Pirelli -1,97%.
The banking sector also closed a session marked by weakness, with profit-taking and combinations adding to the fire.
Ps (-1,77%) is not in the plans Bper (-0,39%) nor even of Unipol (+0,05%), the president of the insurance group Carlo Cimbri told reporters.
Meanwhile, the Ministry of Economy, through the undersecretary Federico Freni, in view of the July 2nd deadline after which the Treasury will be able to sell the bank's shares, stated that there is no rush to sell the Siena shares "we'll talk about it next week", he commented to journalists.
Unicredit loses 1,27%. Bloomberg writes that the bank led by Andrea Orcel, has submitted an offer for the Estonian bank Luminor and is now competing with the largest Hungarian credit institution, Otp Bank Nyrt, to acquire the Baltic company. According to the agency (which cites sources familiar with the matter) Blackstone, owner of Luminor, began a process of selling the bank at the beginning of this year, seeking to obtain approximately 1,2 times the book value with the sale .
On the Ftse Mib i greater increases of the day are for energy and related stocks. Thus Saipem, Eni +0,79%, Snam 0,8%, Enel +0,55% rise. Ferrari appreciates +0,69%.
Outside the main basket it deflates Fincantieri (-9,34%) after the double-digit jump the day before.
Spread rising
It begins to widen slightly again spread, which today closes at 151 basis points, with movements in any case limited. The yield on the 3,93-year BTP is indicated at 2,41%, that of the Bund with the same duration at XNUMX%.
On the foreign exchange market theeuro trades slightly lower against the dollar, but maintains an exchange rate around 1,07.
The m's futures are in redraw materials, including oil ones. Brent WTI lost around half a percentage point.
