The European Stock Exchanges are advancing, driven by the effect of the Greek peace. At Piazza Affari the index FtseMib accelerate and earn 0,9%, Paris salt of 1,3%, Frankfurt 1%, Madrid by 0,9% and Athens by 3,7% after yesterday's +9%.
Good indications also come from macro data. The surveys Markit on European corporate purchases signal the most robust trend in the last 4 years. The flash estimate of the composite PMI, a summary of manufacturing and services, rose to 54,1 points in June, from 53,6 in May.
Banks still in the spotlight. This morning Barclays promoted the Banco Popolare (+0,4%) to equal weight from underweight, adjusting the target price to 14,20 euros from 12,0 euros (+18%). For Goldman Sachs, the new target price is 17,7 euros.
Barclays has always raised Banca Popolare di Milano (+1,5%) to overweight and Banca Mps (+1%) to equalweight. Good indications also from Moody's which has raised the judgment on Unicredit (+ 0,2%), Understanding, Where's Banca, Banca Popolare Milano, Valtellinese credit e believe.
Bene Azimuth (+4%) after the buy confirmation of Merrill Lynch. General Bank + 3,4% Mediolanum + 2,9%.
Sale Telecom Italy (+0,8%). Vivendi will announce plans to increase its stake to 14,9% and will likely have two seats on the board of directors of Inwit (+ 0,2%).
With the IPO, two large foreign funds entered with a stake of more than 2%: Threadneedle and Harvard Management Company. This is what a source close to the operation reports, underlining that Threadneedle has about 3% and Harvard Management Company about 2,6% of the capital.
Stable oil with Wti at 60 dollars and Brent at 63. Eni +0,7% after yesterday's +4,8%. Saipem up 3% after yesterday's +6%. Tenaris (+1,2%) was awarded a contract for an offshore project for Statoil. Well utilities after Citigroup promotions: Terna + 1,1% Snam + 0,5%.
