ATHENS SCARES EUROPE, USA WAITING FOR THE DATA
SAIPEM RECOVERS AGAIN. GOLDMAN SIZE ENI
In Europe, summer is the season of crisis. At least in these years. And so the financial markets, after the sprint start of the week, decided to pull the oars in the boat, forty-eight hours from the next meeting of the ECB. To curb the enthusiasm is the usual Greece which risks not being in a position to receive the next tranche of aid from the EU because it is late with the reforms already promised. The Athens Stock Exchange loses 3,2%.
As a consequence, the price lists of the Old Continent are slowing down.
Milan -0,61% no exception: Ftse Mib index at 15365.
London falls by 0,16%, Paris -0,67% Frankfurt -0,95%.
On the government bond market the situation is stable: the Btp to 10 years is trading at a yield of 4,39%, the spread drops to 268.
Much brighter Wall Street: S&P +0,49%, Dow Jones +0,41% and Nasdaq +0,38%.
The trend in factory orders shows growth of 2,1% in May, substantially in line with expectations.
Tomorrow the US market will close earlier and will remain closed all Thursday for the 4th of July holiday. The reduction in volumes could lead to greater volatility, especially in anticipation of the US employment data scheduled for next Friday.
Even in Milan, activity travels at a reduced pace while waiting for the ECB. The only emotions come from the mid caps.
At the top of the ranking there is always RCS Media Group +11%, after a long suspension due to excess rise.
Conversely shoulder strap Maire Tecnimont -17%, after last week's thrilling rises. The abrupt drop of Saras -5,4% is also significant
Among the mid caps, the rise of Italcementi which gains 5,6% driven by the new "outperform" recommendation from Credit Suisse.
Poltrona Frau rises 4,4% to the highest level since 2008.
The panorama of the Big names in the price list is dominated by uncertainty about Eni -1,19%, recovering after being targeted by analysts: Goldman Sachs and Deutsche Bank cut their target price respectively to 19 and 20 euros. Instead, the anger of investors against Saipem has calmed down, up by 4,44% after yesterday's +8%.
Negative June auto sales data weigh on Fiat which falls by 2,1%. But positive notes are coming from the USA for Chrysler: +9% sales in June. the thirty-ninth consecutive month of growth The other industrialists are also sluggish: Finmeccanica – 2,96%, Pirelli -0,28%. Stm +0,69% is saved.
Lastly, the big banks were negative: Weak banks: Intesa drops by 1,37%, Unicredit -1,54%, Monte Paschi -0,54%. Some flashes for Ubi Banca +0,51% and Banca Popolare dell'Emilia Romagna -3,63%. It's worse Bpm -3,75%. Telecom Italy -1,71%.
