Volatile and uncertain session for European lists, conditioned in the afternoon by the collapse of oil and by rumors about the ECB. In closing, the continental squares are almost all in red, with the exception of Business Square which, despite political uncertainties, only flattened gains, +0,05%, 22.090 basis points. They keep the basket afloat Amplifon, +2,36% and utilities A2a +1,43%; Snam, +1,14%; Terna + 1,11% Enel +0,71%. salt Recordati +1,12%. Banks are contrasted, good Bper +0,9%, down Bpm bank -0,4%. They suffer Pirelli -3,06%; Prysmian -2,81%; Saipem -1,84%; Tenaris -1,73%; Juventus -1,48%.
Sales prevail a Frankfurt -0,9% Paris -0,38% Madrid -0,64%. London -0,62% as Brexit chaos continues. Wall Street opens negative for the third consecutive day. Netflix, after opening the dances sui technology accounts, leaves 11,4% on track. Morgan Stanley rises by 0,3%, with a better-than-expected quarterly balance sheet (even if profits are down 10%).
Contributes to this disturbed climate the trend of Petroleum, which in the American morning decisively takes the downward path. Brent yields 2,89% and drops to 61,82 dollars a barrel; Wti -3,17%, 54,98 dollars a barrel. Both the apparent deadlock in trade negotiations between the United States and China and the worsening of the US economy in June probably weighed on the black gold. The super-index is worse than analysts' estimates and recorded the largest drop since 2016 (-0,3%) also providing an important indication for the Federal Reserve.
In a context like this, the performance of the main Milanese price list can also be explained by the step backwards spread between the Italian and German ten-year period, which in the end only fell back to 186,6 basis points (-0,48%), but after having reached lower peaks in the session. The yield of the 10-year BTP falls to 1,55% from 1,61% yesterday. Government bond purchases intensified following the rumors reported by Bloomberg about the ECB, because the latter could revise the traditional inflation target in the Eurozone (close to 2%), a reference point for monetary policies for about 15 years . The idea would be to adopt a more "symmetrical" approach, i.e. to establish an inflation target that is "not only lower, but close to the 2% threshold", like the current one, but also "above and close to the by 2%". A move that raises expectations of new long-term stimulus measures. In correspondence with the news, the euro also lost share against the dollar, to then return to yesterday's levels and currently move in the 1,122 area.
THEgold it is cautiously up, now at $1429,35 an ounce.
