Having overcome the hurdle of the start of the government crisis, and awaiting indications from the central bankers, the markets trigger the turbo. Piazza Affari +1,77% leads the race, supported by the rebound of the banks, in turn galvanized by the new decline in the spread (from 203 to 198 points).
President Sergio Mattarella today kicks off a two days of consultations with the parties to seek a resolution to the Italian political crisis and lead to the formation of a new executive, the sixty-seventh government in the history of the republic, or to early elections.
The other European lists are also doing well, even if Donald Trump, in view of the forthcoming G7 in Biarritz, raises the bar again on tariffs for European cars.
Paris +1,4%, Frankfurt +1% and Madrid +0,9% advance. Same rise for London. The threats on the car of the US president, who among other things canceled the stage in Copenhagen because disappointed with the dry no Danish to negotiate the sale of Greenland, the strong increases in the car sector did not prevent: all the four-wheeler companies rose.
The benchmark index for the sector marks a rise of 1,7%. Fiat Chrysler lead the race +3,4%, Pirelli +4%. Renault also in rallies +4%. while the hypothesis of an agreement between FCA and the French group is becoming more concrete in the light of the progress of the negotiations between the Regie and the Japanese partner Nissan.
On the bond market, the BTP appreciates to 1,34% yield, from 1,35% yesterday. The Bund, on the other hand, weakens to -0,65% (-3 basis points).
Was a half flop the German auction of 30-year Bunds with no coupon. The bond market absorbed bonds worth only 869 million against the 2 billion offered.
Il Petroleum WTI gains 0,4% to 56,4 dollars a barrel. At 12,00 Brent gained 78 cents, or 1,30%, at 60,81 dollars a barrel. U.S. crude was trading up 56 cents, or 1%, to $56,69 a barrel. The American Petroleum Institute forecasts that US strategic reserves fell by 3,5 million barrels this week. In Milan, both Saipem, Tenaris and Eni advanced by 2%.
Il decline in the spread stimulates the recovery of the banks that canceled yesterday's losses: Ubi Banca +2%. Bank Bpm +1,5%. UniCredit +0,8%. Assets under management also rebound: Azimut is up by 2%, Fineco Bank +3%.
Up too utilities: Enel +1,4%. Italgas +1,5%, Snam +1,2%. In Luxury, Moncler +2,5%, Ferragamo +1,5%. Time +0,7%. Atlantic +1,3%.
Equita Sim dedicates a study to the possible winners and losers in the case of the formation of a new government pd-five stars. Atlantia could suffer a political discount. Gaming titles are under fire, the first to pay in the event of an increase in tax revenues. In the event of early voting, the Tim-Open Fiber operation is at risk.
He misses out Mediaset -2%. The two main proxy advisors, ISS and Glass Lewis, yesterday expressed divergent opinions on the Media For Europe project. ISS criticizes the introduction of the majority vote allowed by Dutch law, while Glass Lewis seems to be in favour, highlighting the strategic rationale and validity of the operation. Vivendi would be inclined to vote against the operation, but at the moment there is no official position on the real intention to vote.
