Another nervous day on the markets, in the session between confidence in the new Italian government and the important appointment of Friday's G7 in Canada, in which Prime Minister Conte will make his debut but above all we will talk about trade duties, Russia and Iran. All issues that leave the European Stock Exchanges uneasy and so the initially positive push this morning turns red already in the early afternoon.
Among the main stock exchanges, Piazza Affari is the worst: the FtseMib loses 0,18% to 21.767,60 points, even if Frankfurt, Paris and London also record more or less the same percentage losses, which after a fluctuating day close below parity. Madrid, in the wake of new Sanchez government, is the only major company in positive territory with gains of just under half a percentage point. Thwarted the opening of Wall Street: the Dow Jones is doing well, the sales on the Nasdaq prevail.
Not even the intervention of the International Monetary Fund, who says he has "confidence that Italy will implement policies to maintain the stability" of public finances. This was stated by Gerry Rice, communications director of the Washington institute. The spokesperson for the Fund led by Christine Lagarde added: "We have not yet had the opportunity to meet the new authorities since the Conte government is clearly in its infancy".
Meanwhile, the more defensive stocks are doing very well in Piazza Affari, that is industrial and energy industries: the best are Saipem col +5%, FCA +3,1% and Tenaris +2,9%. Banca Generali is also among the tops +2,4%, which repeats the excellent performance of Wednesday's session following the very positive harvest data in May. Instead, luxury suffers: the two worst stocks in the Ftse Mib are Salvatore Ferragamo and Moncler with losses of 3,4% and 2,6% respectively. Barring exceptions, including in addition to Banca Generali also Banco Bpm with +0,8%, bad day for the banks: Unicredit -1,64%, Intesa Sanpaolo -1,2%, Ubi Banca -1,5%, Mediobanca -2,2%.
Enel closes flat: tomorrow, Friday 8 June, Spanish rival Iberdrola is back in Milan after the Eletropaulo case and will illustrate its proposal for the Italian market to the press. Mediaset -0,9%, although today Piersilvio Berlusconi, managing director of Alfa Romeo, at the presentation of theTV offer for the 2018 World Cup (which Cologno Monzese offers exclusively and unencrypted) said that the first six months closed with advertising revenues "in positive territory" compared to the previous year.
Today was also the day of the euro above 1,18 dollars, while the Btp Bund spread breaks through the threshold of 250 basis points again, closing at 256, with the yield of the Italian 3-year BTP continuing to rise, exceeding XNUMX%. Raw material: Brent oil rose significantly to 76.73 dollars a barrel and WTI to 65.73 dollars. Gold still around $1.300 an ounce.
