Business Square hits a partial recovery and closes at +0,38%, 21.790 points, with the banks contrasted after the line dictated yesterday by the ECB on NPLs. In evidence Brembo +2,13% and Ferrari, +1,93%, while fca remains negative, -0,6%.
The trend is similar to Madrid, +0,35%; best at Frankfurt +0,61% and Paris, +0,97%. Outside the eurozone London gains 0,77%, while Zurich stands out with +1,53%. Also Wall Street, after a matching opening, continues its journey in green.
On the macro front, it should be noted that consumer prices in the United States recorded a modest increase in June. Among US stocks, the microchip maker Broadcom collapses after the software company CA Technologies (+18%) approved the purchase offer for 18,9 billion dollars. The price lists are instead galvanized by relaunch of Comcast's offer on Sky to $34 billion, over 21st Century Fox's $32 billion. The match also has a positive effect on the media sector at European level. Vivendi it is the best stock in the Cac 40 and rises by 5,4%, also following positive comments from Morgan Stanley on the subsidiary Universal Music Group. Bucking Telecom on the FtseMib -2,75%, penalized by the Ubs 'sell' on Tuesday.
On the economic-political front there is an armed truce between the US and China in the trade war, but Donald Trump is keeping the tariff issue alive by threatening Europe in the auto sector. On July 25, the president of the Commission Juncker will be in Washington to speak with the tenant of the White House precisely about the thorny commercial dossier. In the meantime, the very active Donald collects a result in his European trip: an increase in spending by all allies, after threatening a US exit from NATO.
However, the Italian premier Giuseppe Conte assures that the Belpaese has not committed to increasing its military contribution. Also because in Italy the blanket is short. In fact, the EU Commission has revised its GDP estimates downwards: + 1,3% in 2018 (from 1,5% expected in May); +1,1% in 2019 (from 1,2% in May). It is the lowest level in the euro area. And while the Chamber approves the cut in annuities and the dignity decree arrives at the Accounting Office, the Court of Auditors warns: do not touch the Fornero law on pensions.
The session is positive for bonds, with lo spread between the Italian and German ten-year period, down by 2,01% to 233.60 points. With the medium-long auctions archived, judged positive by the operators, the BTPs accelerate towards the end of the session, while tomorrow the Dbrs verdict on the sovereign rating is awaited, currently 'BBB (high)' with a stable trend. The impact of the reports of the last ECB meeting, published in the middle of the day, is negligible: the central bank sees rates at minimum levels as long as it will be necessary to raise inflation while the guidance has an "open" nature.
The exchange rate hasn't changed much euro dollar, after the greenback's recovery, the cross remains around 1,68.
Volatile the Petroleum, after yesterday's crash: Brent $73,54 a barrel, +0,19; WTi $68,77, -0,13%.
Gold climbs slightly and moves around 1248 dollars an ounce.
In Piazza Affari the more tonic blue chips are behind Brembo Terna +1,98%; Ferraris (+1,93%); Moncler +1,92%; A2a +1,68%%. Banks travel contrasted, with Bper +1,28% and Bpm bank +1,52% up and Understanding, -1,17%, down. Separate discussion for Carige Bank, -1,16%, at the center of a storm with the announcement of the resignation from the board of the main shareholder Vittorio Malacalza.
The worst blue chips in the session are Telecom, General Bank -2,75% Azimuth -1,54% Recordati -1,23%.
Outside the main list there is the thud of Rest -6,08% and the further retreat of the Juventus -8,4%. Queens of the Star are Ima 5,43% and the subsidiary Gima Tt + 4%. Monnalisa on the day of its debut at Aim it gained 1,9%.
