The disappointing results announced tonight by two champions of the tech sector, Google and Microsoft, are also weighing on European stock exchanges. In Milan the index FtseMib gains 0,3%, to 16.095. The other European Stock Exchanges lost between 0,27 in Paris and 0,31% in Frankfurt. London -0,34%. Wall Street index futures are down 0,2%, also conditioned by the news that the City of Detroit has filed for bankruptcy. The Btp/Bund spread was little moved, down by 2 basis points to 286, the ten-year Btp yield at 4,37%.
Instead, they grew up in May total industry orders. A quarterly increase of 3,2% was recorded, the result of an increase of 2,6% in domestic orders and 4,0% in foreign orders, while in comparison with the month of May 2012, the raw index of orders shows a negative change of 1,1%.
On a day devoid of relevant macro data, the most eagerly awaited indications will come from G20 underway in Moscow on the subject of work. We will also talk about emerging economies and the currency war, a hot topic on the eve of Sunday's elections in Japan, testing Abenomics strategies. Another key appointment, the accounts of General Electric, sensitive thermometer of the health of the American economy.
The Rcs stock catches fire (+6,20%), after the news of Urbano Cairo's shareholding. A Goldman Sachs report send Banca into orbit Pop.Milan, +3,94%. The US bank has raised its buy recommendation from neutral by setting a target price of 0,49 euros. Promotion also for Unicredit, +2,97%, considered the best Italian bank by American analysts with a target of 5,4 euros. Intesa gains 2,65%, Banco Popolare +1,01%.Monte Paschi -0,81%. The US bank cut its recommendation to sell from neutral, lowering the target price to 0,19 euro from 0,21 euro.
Generali -0,07% almost unchanged after being included by the Financial Stability Board in the list of insurance companies deemed "too big to fail" and therefore called to comply with stricter capital requirements. Fondiaria +0,34%.
Shine on the runway Brunello Cucinelli, +1,89%, Deutsche Bank raised its target price to 17,6 euros from 15,5 euros. Hold judgment confirmed. Yoox also rose +4,2%, Deutsche Bank raised the target price to 20 euros from 16,5 euros. Buy judgment confirmed. Tenaris down -1,28% to 16,9 euro: Mediobanca Securities reiterated its underperform opinion, with a target price of 13,6 euro.
This morning, Economy Minister Fabrizio Saccomanni, interviewed on Bloomberg TV, said that the Italian government could sell shares of subsidiaries to reduce public debt. Down Eni -0,3%, Enel -0,75% and Finmeccanica -2,65%. Telecom Italia +0,52%, Mediaset -2,21%. Down for Fiat -0,67% and StM -0,99%. Saipem +0,52%.
