The US macro data disappoints, another interim meeting arrives from the Bank of England in anticipation of the Brexit referendum while the markets wonder about the economic scenario after the disappointing data on European industrial production. In this context, the European Stock Exchanges closed down. Even the Ftse Mib, after a day spent mostly on the rise thanks to the attempted rebound by the banking sector, gave up and on the finish it slips into negative territory, -0,26%, with banks closing contrasted, special watch on the markets during the current earnings season.
On a volatile day, the other Stock Exchanges recorded more marked falls: London -0,95%, Paris -0,54% and Frankfurt -1,13%. The Btp-bund spread is substantially stable at 142 basis points.
Today auction of Btp at 3,7 and 15 years with yields for these two second maturities slightly rising. If the 3-year BTP saw the gross yield fall slightly to 0,04%), the 7-year and 15-year BTPs recorded rates that increased, even significantly: the 7-year bond was placed for 2,722 billion against requests for €3,73 billion, with a gross yield of 0,87%, up 6 basis points compared to the previous auction; the 15-year bond maturing in 2030 recorded a gross rate of 1,90%, up by 19 basis points.
In Europe, the data on industrial production was published which in March stood at +0,8% on February and up by 0,2% on an annual basis
No decision has come from the Bank of England: the reference interest rate has in fact remained unchanged at 0,50%, with Quantitative Easing stable at 375 billion pounds. “As expected – commented Davide Marone, currency analyst at Fxcm Italia – today's catalyst event represented by the communications on monetary policy from the Bank of England proved to be interlocutory”.
The data on the weekly claims for unemployment benefits weighed on the markets, which turned out to be at their highest levels in the last year and worse than estimates. At the same time, WTI oil is down by 1,23% to 45,66 dollars a barrel and Brent by 1,6% to 46,84 dollars. In the intraday, crude oil had taken the road of increases driven by the latest report of the International Energy Agency which speaks of a rebalancing of the imbalances between supply and demand.
A Wall Street indices lose momentum. Apple weighs on the Nasdaq hitting new 52-week intraday lows. In terms of exchange rates, the euro is worth 1,1389 dollars
In Piazza Affari you oppose the actions of the banks, with Banco Popolare +1,6% which recovered ground, as a betrothed Bpm (+0,7%). Unicredit also did well +2,68% which finished among the best blue chips. On the day of the quarterly report, Ubi closed unchanged after an intraday rise above 1,5%, while Mps lost 2,2%. The worst stock, however, is Generali which dropped 3,97% after the quarterly accounts which showed a drop in profit of 13,8%. Snam follows with a drop of 3,03% after the company's top management indicated that year-end margins will decrease compared to 2015.
The luxury was also affected with Tod's -8,36% due to the failures of the brokers after the quarterly data and Safilo -4,33%, Ferragamo -1,25%. Moncler +0,89%.
On top of the Ftse Mib rises Anima +3,89% followed by Saipem +3,80%. Instead, Fincantieri flew out of the main basket (+10,3%), after the announcement of the return to profit.
