The freezing of the Italian GDP, which it has recorded zero growth in the second quarter, does not prevent Piazza Affari from registering a new, albeit modest rise: Ftse Mib index +0,14% per share. The markets are looking at the performance of the Eurozone economy which, despite slowing down, achieved an increase of 0,7%, at an annual rate of 1,6%. It is Germany that acts as a locomotive in front of Holland. France, like Italy, is stuck at zero interest, thanks to union conflicts against the new labor law. The Paris Stock Exchange is stationary, while Frankfurt is slightly down. The markets are looking at US consumption statistics before taking leave for August XNUMXth.
Government bonds are stable: the yield on the 10-year BTP remains at an all-time low of 1,05%, the Bund at -0,09%. Oil slides slightly after yesterday's jump. Brent, which rose 4,5% yesterday, is trading at $45,8 a barrel, down 0,3%. The rise in crude oil pushes Saipem +1,8% and Tenaris +0,8%, but not Eni which falls by 0,3%.
At Piazza Affari Mps +2,46% is better than the sector average: the market is looking with interest at the Npl operation announced by Banca Popolare di Bari with the use of Gacs, the first securitization on the Italian market with a public guarantee. The text of the implementing decree of the system of state guarantees for the securitization of non-performing loans appeared in the Official Gazette today.
The main banks were positive: Unicredit +0,8%, Intesa +0,4%, such as Ubi. Mediobanca -0,5% and Generali -0,4% are down. Modest movements in the rest of the list. Among industrial stocks, Fiat Chrysler rose by 0,2%, Cnh Industrial +1,8%. Weak Leonardo -0,2% and StM +0,2%. In luxury, Tod's +2,3% and Yoox +2,1% shine.
