Bets on Ps (+5,01%) and the hope of a banking Risiko support Business Square, which rebounded today, despite the drop in the morning, closing the session up 0,67% at 27.036 basis points. He also brings a breath of optimism to the Milanese price list, also the euphoria of savers for the Btp Value which continues to sell like hot cakes and exceeds ten billion requests at the end of the second placement day.
Interlocutory sessions are held on the markets in general, awaiting the next decisions of the central banks. Closing is so cautiously positive a Frankfurt + 0,18% Paris + 0,11% Madrid +0,24% and London +0,38%, while Amsterdam yields 0,15%.
Wall Street up and oil recovering
I European lists, weak in the morning, benefited from thetimidly positive trend di Wall Street, who found the right rhythm after a colorless start. The change in pace of oil also gave a boost, negative in the European morning and now on a prudent rise, supported on the one hand by the new production cuts announced by Saudi Arabia and weighed down on the other by fears about demand in a context possible global slowdown.
Among the stars and stripes titles remains under observation Coinbase, -14% after the lawsuit filed by the Sec (US financial markets supervisory authority) against the cryptocurrency platform. Yesterday, the SEC filed 13 counts of charges against Binance, the world's largest cryptocurrency platform. The situation does not favor digital coins, as of bitcoin at 25.998 dollars, -3%.
The Australian central bank raises rates
Rates go up of interest in Australiadespite the market betting 60% on a wait-and-see central bank. The Reserve Bank of Australia instead decided to increase its reference rate (Cash Rate) by 25 basis points, to 4,1%, the highest level for 11 years. This is not exactly a reassuring signal in view of the meetings of the Fed and the ECB, on whose choices expectations differ. Indeed, it is assumed that the Fed will take a break, while it is expected that the ECB will raise rates again (by 25 basis points), as the president Christine Lagarde also hinted yesterday. And it probably won't even be the last speech of this year. For the Dutchman Klaas Knot, for example, the current monetary policy is making its mark in the hoped-for sense, but price pressures could still prove difficult to tame and therefore further hikes will be needed, which will have to be implemented gradually.
In this context the dollar Australian moves lively against the american dollar, itself strong.
Indeed, the greenback appreciates against most currencies, including theeuro, which changes lower below 1,07.
Piazza Affari bets on banking risk
Business Square keep betting on banking risk and bet on Mount Paschi, with Bper, a possible candidate for marriage, which remains rather low +0,24%.
They are also appreciated Bpm bank +1,64% and the big ones Understanding +1,17% and Unicredit + 1,53%.
At the top of the list, asset management securities such as Fineco + 2,82%.
Energy stocks, weak in the morning, regain some momentum with Tenaris +2,29%, while Eni (-0,9%) is negative. Well the pharmaceutical with Recordati + 2,61%.
The biggest drawdowns of the day are no more than 1% and include Leonardo -0,68%, on the day of the news that the ex to Alessandro Profumo is being investigated as part of an investigation by the Naples prosecutor's office on the sale of ships and aircraft to Colombia. The former premier Massimo D'Alema, his accountant Gherardo Gardo and the former director of the ship sector of Fincantieri (+0,95%), Gherardo Gardo are also under investigation together with Profumo.
Back off Pirelli, -0,83%, on the day of the hearing of the top management of the company by the coordination committee for the golden power to the presidency of the council, to understand and stem the maneuvers of the Chinese partner.
Out of the main basket it shines sapphire +5,25%, thanks to the early renewal of the Kate Spade New York license.
Spreads and rates on the rise
Despite the enthusiasm for the new Btp Valore, the Italian secondary closed in the red, in view of new rate hikes by the ECB. The spread between the benchmark 10-year Btp and its German counterpart, it rises to 172 basis points (+2,45%) with slightly higher rates.
