The European stock exchanges are turning positive in the late morning, after a phase of uncertainty partly linked to the mood of the US president. Donald Trump first threatened US withdrawal from NATO, then the US president changed register. After a hastily called extraordinary summit, Trump called a press conference to underline the positive developments of the morning, characterized by the strengthening of contributions to defense spending.
Business Square it rose at 13 pm by around 0,5%, over 21.800 points. The other lists are also on the rise: Frankfurt e Paris they advance about 0,6% ahead of Madrid (+0,2%), London rises by 0,8%.
On the currency front, the dollar awaiting the data on US inflation. The euro/dollar traded below 1,17 about one figure away from Monday's three-and-a-half-week high of 1,179. The greenback travels to a six-month high against the yen, with an intraday peak at 112,41. The exchange rate has not risen above 112 since mid-January.
Oil recovering after yesterday's drop. Brent + 1,1%. wtf + 0,6 %
The growth of the Italian GDP it will slow down in 2018 to 1,3% before falling to 1,1% next year. This was predicted by the European Commission in today's interim estimates, with a decrease compared to the figures of May 3 which indicated +1,5% for the current year and +1,2% for 2019. Forecasts are up for the rate of inflation. In the Italian case, the estimates rise to 1,4% (from 1,2%) for 2018 and 1,6% (from 1,4%) for 2019.
Il Tesoro it placed 6,5 billion Btp in the medium and long term: objective of the operation achieved.
The seven-year bond was placed for two billion at an average yield of 2,31%, down by six basis points compared to last month's auction. The coverage ratio rose to 1,64.
Declining it spread Bund Btp at 237 points.
Together with yesterday's BOTs, the Treasury issued a total of 12,5 billion paper in this auction session, a billion more than in mid-June, a further sign of "partial normalization": the Treasury's refinancing needs this year they are already covered for about 63%.
The ECB's Banking Supervision has chosen the soft line in the process for the progressive reduction of the stock of non-performing loans (Npl) of European banks. In the Italian price list, well bought above all Bpm bank e Banco Bper which record gains of more than 2%. Carige is flat after the shareholder Vittorio Malacalza announced this morning that he had presented a message to the Board in which he announced intention to resign as director.Sales continue on Fiat Chrysler (-1,5%) and achievements on Juventus, still heavy today with a drop of 7,6%. Rest it drops 5,8%, with strong volumes, on expectations of a weak semester.
Weak Telecom Italy, which drops 1,4%. In the rest of the list it is noted Gima TT: +5,3% in the wake of the contract signed in China. The parent company is also toned Ima (+ 5,5%).
