The Milan Stock Exchange turns up again, the index Ftse Eb gains 0,3% to 17810 points. European stock markets also rose, in the wake of those in Asia. Frankfurt +0,4%, Paris +0,3%. The rise in Paris stands out by Accord +4,3%, in the wake of Jin Jiang's Chinese interest in an increase in the stake already held in the hotel company.
By mid-morning, the Ftse Mib index had recorded a modest decline after the decline in the services sector in May, which fell to 49,8 from 52,1. Conversely, in the euro area the PMI data improved from 53,1 to 53,3.
The euro-dollar cross was stable, around 1,1150. Conversely, the single currency is at its lowest since 2013 against the yen, just above 121.
The 10-year BTP trades at a yield of 1,36%, down by one basis point. The 10-year Bund yields 0,11%, and is at its lowest since April.
Despite the OPEC summit yesterday in Vienna concluded with no decisions on possible production cuts and/or freezes, the crude oil market is breathing a climate of greater trust as confirmed by the appointment of the new general secretary, the Nigerian Mohammed Bardinko, after four years of impasse. The Brent November delivery this morning climbed 0,4% to $50,2. The wtf gains 0,2% to $49,2.
Eni rises by 0,7%, Tenaris +2%.
Banco Popolare falls -2,6% at 406 euros, after opening at -4%. Yesterday the board of directors set the price of the new shares at 2,14 euros for the 1 billion capital increase which starts on Monday 6 June. Out of 14 analysts surveyed by Bloomberg, only 5 recommend the purchase. Average target 7 euros.
With the exception of Monte Paschi -1,3%, other banks improve: Intesa +0,4%, Unicredit +0,3%, Ubi Banca +0,1%.
Some industrialists also did well: StM +2,2%, CNH Industrial +2%.
Fiat Chrysler -0,3%, Leonardo -1,2% down.
Among the utilities, Enel +0,5%. Telecom Italia sales +0,7%: in an interview with the Financial Times Vincent Bolloré, owner of Vivendi, said that he does not intend to sell the Telecom Italia stake, but neither does he intend to become directly involved in management.
