On the one hand there is the separation of Alibaba (+14% in Hong Kong) in six different companies which could also land on the stock exchange; on the other there is the surprise appointment of Sergio Ermotti at the helm of Ubs. He will manage the very delicate wedding with Credit Suisse. The result? European stock markets momentarily put aside worries about the international banking crisis and are on a sharp rise, making the third consecutive session of gains.
The possible moves of the regulators on both sides of the Atlantic are also reassuring the markets in this phase: in the USA, in fact, the analysts of Mps Capital Services recall, the authorities are studying "potential regulatory changes to the banking system in an attempt to contain future crisis in the sector”, while the ECB "instead, it is investigating the credit default swap market after a few transactions of relatively small amounts led to a substantial jump in CDS which in turn affected the perceived risk on Deutsche Bank".
The latest news on European Stock Exchanges
In the middle of the day, the technological sector and the banks lead the price increases. The best square is Paris (+1,22%), closely followed by Amsterdam (+1,2%) and Milan which joins the general good mood, scoring +1,2% to 26.646 points. Toned too Madrid e Frankfurt, both at +0,9%. Outside the euro area Zurich gains 0,97% led by ubs (+ 1,5%) and Credit Suisse (+ 1,27%) and London travels up by 0,8%.
In Milan exploits of Stm, the banks shine
I'm in Milan Mps and Stm to contend for the palm of best title of the day. For the moment, the hi-tech company wins, gaining 5,3% in the wake of the upcoming spin-off of Alibaba and the accounts of Micron and Infineon. Mps recovers (+5,23%), which in recent days had been one of the stocks most penalized by the financial shocks, losing 35% of its value in just over a week.
The other banks were also positive: Bpm bank (+ 2,1%), Banca Mediolanum (+ 1,34%), Bper (+ 1,29%), Intesa Sanpaolo (+0,5%). Well Moncler (+ 1,88%), Saipem (+ 1,87%) and Prysmian (+1,56%). Positive assurances.
Sales hit instead Diasorin (-0,58%), Tenaris, Iveco and Leonardo, all three with decreases of around 0,4%. The defense company, in particular, is penalized by the guidance below the expectations of its US subsidiary Drs for 2023.
5 billion Bots assigned, record returns
The yields of the six-monthly bots placed today at auction rise to the highest since 2011. The Treasury has assigned 5 billionsemi-annual bots maturing on 29 September 2023 with a yield of 3,076% against a request for 6,941 billion (1,39 the coverage ratio).
Also placed the 2 billion from the reopening of the Annual BoT maturity July 14, 2023 and quarterly residual life with an average yield of 2,934%. The demand for this bond amounted to 3,286 billion.
In this context it is spread between 183-year BTPs and Bunds with the same maturity drops to 185 basis points from 10 on the previous day, while the yield on 4,1019-year BTPs drops to 4,13% from XNUMX% on Tuesday.
The other markets
On the currency, the'EUR remains at 1,0859 dollars, while the gas natural remains stable at 43 euros per Mwh. Instead, the price of the Brent, which stands at 79,37 dollars a barrel. On the too wtf (+1,12%9, which exceeds 74 dollars a barrel.
