The White House has announced that the US president will not interfere with the decisions of the American Central Bank as he hinted in an interview with CNBC. The president of the United States, on the same occasion, threatened 500 billion in tariffs on Chinese goods.
Luigi Di Maio wanted to clarify this morning that "there are no disputes regarding the CDP" and that he has never asked for the resignation of Economy Minister Giuseppe Tria. In both cases, the denials were not enough to calm the markets. The European Stock Exchanges are holding back: Frankfurt -0,6%, Paris -0,4%, Madrid also down -0,6%. In pale red London -0,1%. The raw materials sector in Europe fell sharply by .2,7%, sunk by Stora Enso down -12%, after disappointing second quarter results
Worst of all is Milan -1% around 21.700 points. But the tensions in the government both on the appointments and, in perspective, on the autumn manoeuvre, are being felt above all in the debt market. After a heavy opening, there was a temporary recovery following the words of Deputy Prime Minister Luigi Di Maio: the spread fluctuates around 230 points. the 2,56-year yield rises to 2,53%, from 0,61% yesterday. Biennial to 0,55%, from 25% yesterday. There are almost XNUMX billion Italian government bonds sold from abroad in May. The balance of payments released by the Bank of Italy confirms the flight from BTPs by non-resident investors in the month in which the specter of Italy risk reappeared on the markets. At the end of the morning the government, after a summit at Palazzo Chigi, let it filter that the agreement on the renewal has been found of the CDP summit. A press release from the Mef will follow.
Rising end of the week for oil: Brent futures in London gain 0,83% to 73,18 dollars a barrel. Eni -0,20% Saipem -0,5%
The landslide continues in Piazza Affari Buzzi even today among the worst, in the main basket, with a drop of 3%.
Instead, it stands out Recordati +4% galvanized by a Goldman Sachs report,
Among the banks retreat Unicredit -1,5%. Ubi Banking -1,0% and Banco bpm -1,4%. Generali -1,5%. Italian post -1,1%.
Among the negative blue chips Mediaset -0,9% Enel -0,9%. Leonardo dropped sharply -3% after rumors of a change of leadership with the exclusion of Alessandro Profumo.
fca -2,3%. Weak Ferrari, Exor, Cnh Industrial e Brembo.
Tim -0,7%. The Brazilian subsidiary Tim Participaçoes closed the second quarter with profits up 53% to 334,5 million reais. Tim Partecipacoes, the Brazilian subsidiary of Tim, closed the second quarter with a net profit of 334,5 million real, up 53,2% compared to the same period in 2017. The company recorded growth from all sources of revenue, despite the fragile recovery of the Brazilian economy.
In the rest of the list:
Luxottica +0,82% is getting closer to the publication of first half results.
Sias -6%, after the steps forward in the reorganization of the corporate structure. Cheetah + 10%.
Geox drops by about 3%: Kepler Cheuvreux has cut the target price.
