They move up the European stock exchanges under the impetus of the strong dollar in anticipation of Jerome Powell's speech at the Jackson Hole symposium. In Milan the index rose by 0,76%, +0,27% for Frankfurt and +0,44% for Madrid. Paris +0,45% and London +0,2%.
On the other hand, the tension on the spread. Around 13 pm, the Italian 3,127-year reference rate rose to 3,10% from yesterday's 260%. The spread with the same maturity on the Bund, which fell to 280 points at the beginning of the week, came close to 278 points and then settled at 29. In the evening, the Ministry of the Economy will release the details of the six-monthly BOT auction on 28 August while on 1,75 August up to 2020 billion of the Ctz March 30 will be made available. The medium-long term offer of 5 August will be announced on Monday. The launch of the new 10-year benchmark is expected, which will be offered together with the reopening of the XNUMX-year and the Ccteu.
Il Petroleum Brent, yesterday flat at the close, today trades at 75,2 dollars a barrel, on the highs of the last five weeks. US sanctions on Iran are having supply side impacts. According to Jefferies, Iranian tankers in the first half of August loaded about 700.000 barrels per day less than standard. The energy consultancy FGE expects Tehran's exports to fall below one million barrels/day from mid-2019.
Positive energy stocks. Eni + 0,2% Saipem + 0,1% Tenaris + 1,79%.
Avanza Fiat Chrysler +3,2% following the confirmation of Kkr's interest in Magneti Marelli. The operation could be concluded on the basis of a valuation of between 5 and 6 billion euros (including debts). salt Ferrari + 2,18%.
The other industrialists exposed to the US dollar are doing well. stm + 1,44% Leonardo + 1,98% Prysmian + 1%.
Between banks Unicredit +1%. According to rumors, the group would have recruited Rothschild as a consultant, in view of a possible aggregation with Société Générale Jefferies lowers the target price, 18,40 euros.
Intesa Sanpaolo +0,58%. Jefferies lowers the target price to 2,50 euros. The bank placed a one billion euro five-year senior bond at a rate equal to the mid-swap plus 188 basis points, equal to 2,15%. The coupon is at a lower level than initial expectations. AND' the first issue by a bank since the yellow-green government took office.
Banca Carige +1,1%. Yesterday evening Malacalza Investimenti, which rose to 23,96% of the bank's capital, announced that it had presented thehis list for the renewal of the board, which includes Pietro Modiano and Lucrezia Reichlin, respectively proposed for the positions of president and vice president, and Fabio Innocenzi as ad.
Still on the rise Atlantia +1%: the reconstruction of the collapsed bridge could be entrusted to atemporary association of companies led by Cassa Depositi e Prestiti. The work should be done by Fincantieri + 1,5%.
Out of the main basket:
- New highs for Saras + 1,8 %
- Central Dairy of Italy +4,8%, best title today.
- The rally continues Juventus + 4%.
