Sixth consecutive session of decline for Piazza Affari -0,3% despite the successful outcome of the 5- and 10-year BTP auction with ten-year rates falling below 3% for the first time. In particular, the 2,5 billion euro of 10-year BTPs were placed at a rate of 2,81%, against 3,01% in the previous auction. 5-year bonds, on the other hand, were placed at 1,35% (against the previous 1,62%). The Btp bund spread closed down at 157 points. In the morning, Istat published the data on business confidence which in June rose to 88,4 points from 86,9 with a widespread improvement in all sectors. However, weakening the European indices is the surprise drop in confidence in the Eurozone. The ESI, Economic Sentiment Indicator, calculated by the European Commission fell by 0,6 points to 102 against an increase to 103 expected by analysts.
However, today the macro data arriving from Europe is different, especially on GDP and inflation. In France, producer prices fell by 0,5% in May due to the drop in energy, consumer spending in May rose by 1% and the flat trend of GDP in the first quarter was confirmed (+0,7 .0,8% per annum). In Spain, consumption slowed down while annual June inflation was flat. In Great Britain, GDP growth was confirmed at 3%, compared to the previous quarter. The previous estimate of 3,1% of the annual change has been revised downwards to 0,3%. Finally, in Germany, according to preliminary estimates, consumer prices rose by 1% in June, bringing annual inflation to 0,9%. Inflation fell to XNUMX% in May, hitting its lowest level in four years.
European markets close weakly: London +0,34%, Frankfurt +0,10% and Paris -0,06%. Contrasted closure also for the Asian stock exchanges: Hong Kong +0,10%, Shanghai -0,11%. Tokyo lost 1,39% weighed down by fears for the US economy and the drop in the dollar against the yen. Wall Street is also recording a weak session and is starting to close the second week with a minus sign despite the good macro data on confidence. American consumer confidence rose to 82,5 points at the end of June from 81,9 at the end of May, beating the expectations of analysts who were expecting a confirmation of 81,9 points. In particular, the Dow Jones dropped 0,14%, the S&P500 0,04% while the Nasdaq managed to stay in positive territory with an increase of 0,14%. DuPont sales after profit warning, Nike purchases after data release. The euro-dollar exchange rate stands at 1,3631 while WTI oil drops 0,31% to 105,51 dollars a barrel.
In Piazza Affari, Mediaset shines, confirming the good performance of the start-up: the share rises by 4% after the agreement on TV rights for football matches. The agreement with Al Jazeera now seems easier. For Exane Bnp Paribas, which promoted the share to "neutral" from "underperform" (traget from 3,5 to 3,6 euros) "the announcement of a partnership is imminent" and the offer from Qatar could be higher than the expectations: the value of Mediaset Premium increased by 0,2 billion to 0,7 billion euro. Mondadori also jumped +3,5%. As at 24 June, Intesa SanPaolo has a 1,997% stake in Mondadori's capital in its portfolio. Following a private placement of Mondadori Editore shares on 18 June, Intesa San Paolo notified Consob that it held 2,004% of the capital of the Segrate publishing group, registered as a direct pledge and indirect ownership as a pledge. The following day, the stake held by the banking group was reduced to 1,997%.
Followed by Mediaset in evidence on the Ftse Mib Bper which rises by 2,3%, Yoox +1,02%, Prysmian +1% and Tenaris +0,94%. At the bottom of the Ftse Mib Unipolsai -2,51%, Saipem -2,3%, Mps -1,6%, Banco Popolare -1,5%, telecom Italia -1,2%.
Unicredit slips by 0,165%. Today the placement price of the subsidiary FinecoBank was announced, which will begin listing on July 2nd. The shares were allotted at €3,70, at the low end of the range. the capitalization will be equal to 2,243 billion euro. Unicredit a capital gain of 360 million euros.
Mps lost 1,6% on the day the 5 billion capital increase closed and after a good start favored by the improvement in the rating by the Moody's agency.
Fiat -0,67%. FCA is expected to announce the start of production of a Chrysler-branded small sedan at a Thai Mitsubishi plant next week.
