The rise of the European stock markets consolidates. The Milan Stock Exchange is still leading the pack: the FtseMib index +2,52% is again close to 16 points just behind Paris +2,75% and Madrid +2,6% but ahead of London +2,44 ,1,89%, Frankfurt +XNUMX%.
The recovery of the pound against the dollar continues at 1,341 (+0,5%). The euro/dollar exchange rate is stable at 1,106. Oil is advancing with Brent once again above 49 dollars a barrel (+1,1%) and Wti 48,5 dollars (+1,3%). The rise pushes stocks in the sector: Eni +2,1%, Saipem +2%, Tenaris +3,6%.
Despite signs of easing on the international scene, the demand for traditional "safe havens" for capital investment remains strong: gold rises to 1.321 dollars an ounce (+0,7%).
The yield on the 0,11-year Bund remains close to an all-time low at -1,36%. Our Btp recovers with the yield falling to 1,40%, from 2,7% yesterday. The biggest gains concern banks, the sector that suffered the most in the two days of tremendous decline that followed the referendum in Great Britain. The European sector index rises by XNUMX%.
Unicredit is up 4% to 1,97 euros, a modest rebound after three consecutive days of very strong decline (-31%). Tomorrow, 40 days after the resignation announced by the managing director Federico Ghizzoni, there could be some news on the replacement selection process: the nomination committee meets today. An agreement on the name among the members of the committee would pave the way for the appointment by the board of directors on 11 July.
Mediobanca +5,2%, Banco Popolare +4,6% and Pop.Milano +3,6% also stood out. The Eurostoxx Insurance index rose by 2,4% today. Also advances Generals +3,8%. Chief Executive Officer Philippe Donnet acquired 200.000 shares of the company for a value of €2,233 million between June 24 and 27. Among the numerous increases during the day, the rally of Telecom Italia +4,7% stands out on the wave of the increase in the entire TLC sector in Europe (Stoxx +2,5%).
Great interest in Snam +2,8%. The company has approved the separation of the subsidiary Italgas through the partial and proportional demerger. Italgas, a company that deals with the secondary distribution of gas, will be listed on the Stock Exchange by the end of 2016. Snam shareholders will be assigned one share of the new Italgas company for every five Snam shares held. Upon completion of the transaction, presumably by 31 December 2016, Snam will maintain a 13,5% stake, compared to the 100% held to date, Cdp Reti will have 25,08% and Cdp Gas 0,97%. Enel was also positive, rising by 2%, Terna +1,2% and A2A +1,9%.
