Eurozone economy revives in June as Donald Trump reassures markets and says trade deal with China is fully in place. These are two positive signs, which overshadow the worries of the pandemic and which are driving purchases on the stock market today. Wall Street moves at record highs as European stocks close higher, led by Milano, +1,86% and Frankfurt +2,16%, which restarts together with Wirecard, +18%, later the arrest of former CEO Markus Braun.
Bene Paris + 1,45% Madrid + 1,38% London +1,2%. Piazza Affari resumes its climb towards 20 points, rising to 19.841, driven by fca +5,79%, queen of the price list with the auto sector well bought throughout Europe. In the wake Exor, +3,24%. They shine Buzzi +3,18% and Diasorin + 2,99%.
The bond remains tonic in the ten-year portion, with lo spread with the Bund down to 171 points (-3,07%), while the yield on the Italian bond falls to 1,27%. A trend that favors purchases on banks, above all Ubi +2,89% and Bpm bank +2,84%, while outside the Ftse Mib il Monte dei Paschi rises by 7,43%, The prospect of a new season of consolidation in the sector is encouraging purchases, after the words of the president of the ECB's Supervisory Board, Andrea Enria, according to which the health emergency caused by the Covid-19 XNUMX is reducing the profitability margins of European banks and it would therefore be useful for institutions to evaluate both domestic and cross-border M&A transactions.
It doesn't even stop running Interpump, +1,86%, after yesterday's debut among the big caps, while the other freshman takes a breather, Inwit, -0,32%.
It bounces Atlantia, +2,55%, following a communication with Aspi at the Ministry of Transport, which reiterates "the company's willingness to continue - even after 30 June 2020 - the interlocutions for the definition of the dispute procedure initiated by the grantor on 16 August 2018". Consequently, Aspi "will continue to fulfill its obligations as a concessionaire even after 30 June 2020".
Fractional drops for Telecom -0,24%; Snam - 0,39%; Italgas -0,19%.
It runs overseas wall street, where the Nasdaq updates its record still towing the stocks of large technology companies, such as Apple, Microsoft, Amazon, Facebook.
This optimism was primarily triggered by better-than-expected June Flash PMI data for the eurozone. The composite data (manufacturing plus services) went from 31,9 in May to 47,5 points in June and is the highest value recorded in the last 4 months, although it does not reach 50 points, which is the boundary between contraction and expansion . The services index rose to 47,3 while the manufacturing index rose from 39,4 to 43 points. “Thanks to the further easing of the restrictive measures adopted to contain the contagion from Covid-19, the economic contraction of the eurozone – comments Ihs Markit – marks a sharp slowdown in June for the second consecutive month. Moreover, the June survey recorded a new strong improvement in economic expectations for next year”. In essence, it is not a question of recovery, but of a recovery that bodes well for the future. The European Union and Italy in particular will play many of their chances of recovery in the Brussels meeting, the first live after the lockdown, when the thorny issue of the Recovery Fund will be addressed again. The appointment is set for July 17 and 18, immediately after the ECB meeting, when the leaders of the 27 countries will meet to negotiate the terms of the appropriations. If they don't agree, times will lengthen further, with serious damage to the economies most affected by the pandemic and the blockage of activities such as the Italian one.
On the North American front, many clouds were swept away by a tweet from Donald Trump who, reaffirming the existence of the trade agreement with China, blatantly denied the White House trade adviser, Peter Navarro, who told Fox yesterday the opposite .
On the currency market theeuro it moves in progress against the dollar, at 1,132. Among the raw materials, matching goods remain gold and oil.
The former hunts down $1800 an ounce and trades higher above $1782. Brent-type oil trades up 0,9% to 43,45 dollars a barrel.
