Lively start to the week for European stock exchanges. TO Business Square, among the most dynamic, the Ftse Mib index gains 0,9%, around 18.800. On positive ground too Frankfurt e Madrid (+0,1%), unchanged Paris. London + 0,2%.
On the currency market, euro/dollar stable at 1,057 and in line with Friday's positions.
Rebound of crude (+0,8% to 54,45 dollars the WTI) after the correction in the last sessions linked to indications on the sustained trend of US production. Energies down: Saipem -1% Eni -0,1% and Tenaris -0,2%.
The yield on the Bund rose again, falling on Friday to its lowest since the beginning of the year. The German 0,19-year yields 2% (+194 basis points). The spread with the BTP drops to 199 basis points from 68 basis points at the closing. The differential between France and Germany also decreased, to XNUMX basis points.
The Treasury has placed all 7 billion euros of Five-year and ten-year BTPs offered at auction today, with the five-year rate returning above 1% for the first time since June 2015. The average yield on the BTP maturing in April 2022 has risen to 1,11%, from the previous 0,92%. The rates for the two ten-year periods June 2027 and June 2026 are equal to 2,28% (from 2,37%) and 2,05% (from 1,77%). Also sold 3 billion euros of CctEu February 2024 and December 2022 at 0,79% and 0,53% respectively.
Even if the bond market shows a divided Europe, morale remains high on the Old Continent. The European Commission's index on consumer and business expectations remains at its highest level since 2011.
Divisions make strength. It goes into crisis the merger between the London Stock Exchange and Deutsche Boerse, because London has opposed a clear refusal to the request to sell Mts, the Italian fixed income platform, a strategic and highly profitable asset. According to the company that manages the London Stock Exchange, the fee request is "disproportionate".
Meanwhile, Piazza Affari sends a clear message: the marriage between Intesa and Generali was not to be done. Understanding leaps up 5,20% after announcing on Friday evening the halt to the study of an integration with Generali, which dropped 3,76% today in the same minutes: the speculative appeal on the company has disappeared.
Well bought Bpm bank (+2,87%): on Friday the Bank communicated the outcome of the ECB Srep which set a minimum target of Cet1 well below the current values. The auction of the shares already subject to withdrawal on the occasion of the merger began this morning. In money also other banking such as Where's Banca (+ 3%) and Bper (+ 3,7%).
Poste Italiane +1%. The placement on the market of the second tranche is moving away: within the Democratic Party the alignment opposed to privatization is gaining the upper hand.
Among industrialists, Fiat Chrysler advanced by 2,3%. On Friday, the US division repaid a 1,7 billion term loan in advance. There are also rumors about a positive conclusion of the Italy-Germany dispute on the issue of emissions.
Leonardo +3%, after the promotion of Exane. Enel + 1 % Terna -0,32%. Credit Suisse downgraded the recommendation to Underperform from Neutral.
A day to remember for football. Juventus +2,3%: the first half of the 2016-2017 financial year closed with a profit up by 137,6%, to €72 million, benefiting from the higher income from player management and the increase in recurring revenues. It also progresses there Roma (+7,2%) both for the success in the championship against Inter both for the green light at the stadium.
