Swing at the start of trading a Business Square which after the opening in slight decline had deluded everyone with a momentary recovery and then dropped back into negative territory. At 9,50 theFTSE Mib index loses 0,12% , the Allshare marks -0,35%. Yesterday the main Milanese list was among those that suffered the most from the breakdown of the negotiations between Athens and the international creditors, filing with a decline of more than 5%.
The luxury sector is very weak with Ferragamo e Tod’s which lose more than 2 percentage points at the opening. Also in sharp decline Saipem title (-1,75%) and the Mediaset title (-1,58%). Very few positive titles. Among these stands out Buzzi Unicem (+2,85%) promoted to "buy" by Goldman Sachs which also included it in the "conviction buy list". Shy 'plus signs' for Unicredit (+0,17%) and Bca Popolare di Emilia Romagna (+0,13%). Mps stock falls by 0,45%
If Milan starts with the brake on, the other main European stock exchanges also do not shine at the opening of negotiations. Paris is down 1%, Frankfurt's Dax index is close behind with -0.96% and Madrid is down 0,72%.
At the start of the day, a new flare-up of the spread between 10-year BTPs and Bunds which came close to 170 basis points and then settled around 164 points at 9,50, in any case up on yesterday's close at 159 points. The yield on the Italian 2,39-year bond rises again, going from yesterday's 2,42% to 160%. The trend of the spread between btp and bund is substantially in line with the yield differential between Spanish bonos and German bunds The bonos-bund spread is 158 basis points from 2,35 at yesterday's close, with a yield for Spanish ten-year bonds at XNUMX .XNUMX%.
