The price of the Petroleum, it goes haywire Wall Street and the cold currents lap Europe, where the markets close today in progress, but limiting the morning's gains.
Business Square archives trading up 0,52%, at 34.670 basis points, led by Telecom Italy +4,13%, effervescent for a few sessions, after the green light from the European Antitrust for the sale of the network without conditions and with CEO Pietro Labriola who, a Bloomberg, said that the group, after completing the sale, will be able to play an active part in the consolidation of the sector at a European level.
In the rest of the continent they rise Frankfurt + 0,7% Madrid +0,66% and Amsterdam +0,16%, is flat Paris, still slightly shaken by the S&P downgrade which took racing from AA to AA-. London yields 0,16%.
Overseas Wall Street moves mixed: DJ -0,7% S&P 500 -0,33%, Nasdaq +0,4%. Back on the shields Nvidia, +2,6%, after the stop of the last eighth and soaring Game Stop, +34,31%, after influencer Keith Gill, aka Roaring Kitty, talked about a $116 million bet on the video game retailer over the weekend.
This is evidently not enough to support sentiment as a whole, which remained optimistic in the month of May, but which in any case appears to be at the mercy of some uncertainty linked to the geopolitical framework and monetary policy.
Then there was a technical problem at the New York Stock Exchange, which forced a halt to trading on stocks that appeared, by mistake, to be falling heavily. These include Berkshire Hathaway, down 99%, Barrick Gold and Nuscale Power.
Of note in these intense weeks under the political at global level the Indian stock market rally and of the rupee, after the elections where the victory seems to clearly reward the party of Prime Minister Narendra Modi. The performance of the Mexican market, however, is weak, after the overwhelming victory of Claudia Sheinbaum, the country's first female president.
The ECB week opens
In any case, the month of June opens with a positive session for the euro area stock exchanges, waiting for Thursday ECB respect the forecasts by cutting interest rates by 25 basis points, for the first time after three years of tightening and perhaps give a glimpse of its future actions. The bloc's economy needs a boost, as evidenced by the May manufacturing PMI of the three main Euroland economies, namely Germany, France and Italy, all in contraction.
In Germany the index rises to 45,4 points (from 42,5) but remains in the contraction area and so on France (46,4). Italy it even drops again to 45,6 points, a five-month low.
In United States the PMI and ISM indices, on the other hand, are two-sided, the first is at 51,3, but the second, which captures business confidence, drops to 48,7 points and performs worse than estimates.
From the Asia however, the news seen before the upward closing of the stock markets appeared positive for China, Japan and South Korea.
Oil down, after OPEC+ agreement on cuts; gas rally
Among raw materials, the decline in prices becomes more intense as the hours pass Petroleum. At the moment the July contract for Texan crude oil falls by 3,47% to 74,31 dollars a barrel and the August contract for Brent drops by 3,22% to 78,53 dollars a barrel. The agreement reached by the group Opec + to extend most of the production cuts until 2025 evidently does not inflame the market, on the contrary. The cartel and its allies are currently reducing production by a total of 5,86 million barrels per day, equal to approximately 5,7% of global demand, but are also targeting their gradual return.
The rally diminishes in the final stages gas (35,880 euros), which in the session reached the highs of the year at 38,70 euros per MWH (+13%) following the closure of a gas pipeline connecting Norway to the United Kingdom due to a crack in a pipeline. Furthermore, there has been a decline in LNG imports into Europe due to increased demand in Asia.
On the currency market the euro strengthens today against the dollar at 1,0848.
Poste Italiane and Leonardo do well in Piazza Affari, oil stocks fall
In Piazza Affari, in addition to Telecom, they are appreciated Post + 2,1% Leonardo + 2,42% stm +1,42%. Utilities such as are in green Snam +1,56% ed Enel + 1,41%.
The banks moved in no particular order, but Unicredit achieves a new gain of 1,2%.
Oil stocks, on the other hand, recorded some of the worst performances of the day: Saipem -2,32% Tenaris -1,03% Eni -0,54%.
The black shirt of the Ftse Mib instead goes to Amplifon -2,75%.
Stable spread and falling yields
The secondary closed a positive session: lo spread between Btp 10 and Bund of the same duration it is at 129 basis points with returns slightly decreasing. The Italian bond is indicated at 3,85% and the German bond at 2,56%.
Friday night Moody's confirmed the Baa3 rating on Italy.
