The European stock exchanges are about to end the week in the red. Markets are awaiting guidance this afternoon from data on theUS occupation: according to forecasts, 178 new jobs should have been created in June.
A Milano the Ftse Mib index falls by more than half a percentage point, returning below 21 points. Lower losses, at 0,3%, for Paris, Madrid and Frankfurt. Only London is on positive ground, slightly above parity.
Investors are adjusting to a scenario of imminent rate hikes with sales of bonds but also of shares. The yield of Waist confirmed this morning the level of 0,57% where it rose yesterday evening, the maximum of the last 18 months.
Il BTP trades at 2,29%, slightly up on yesterday evening, spread at 170 basis points. The exchange operation of the Treasury contributes to weighing down the BTPs compared to the rest of the more stable euro bonds after yesterday's sales, which issued 1,807 billion against the 2 billion offered by the BTP in February 2033, withdrawing 5 bonds with a 2018-2019 maturity .
On stock lists they are saved only Utility e Insurance, just above parity, the rest is in red. Worst of all Oil & Gas (-1,3%).
Il Petroleum in fact, the descent accelerated: Brent at 46,9 dollars a barrel, down 2,4%. It was probably data on US crude production, which rose strongly in the last week, that pushed the market lower, initially set in the opposite direction by the sharp decline in strategic inventories.
Energy stocks fall: Eni -0,8% Saipem -1,7% Tenaris -2%. Down more than 1% as well Total e Royal Dutch Shell.
The rate hike in Europe is supportive the euro, trading at 1,142 against the dollar. An important member of the ECB like Bernard Coeuré said in an interview that the economic recovery in Europe is finally unfolding, even if inflation is still weak.
In confirmation, the data on the data arrived this morning industrial production of Germany in May, increased by 1,2% on the previous month, against expectations of +0,2%.
The banks are down, which yesterday reached their highest levels for 18 months: the sector is up 3,6% on a weekly basis. Unicredit -0,7% Bpm bank 1,5%, Understanding -0,7%.
The worst title is Mediaset (-4,15%), weighed down by the downgrade of Exane which cut the recommendation to Underperform from Neutral by lowering the target price to 2,70 euros from 3,50 euros. The willingness to hand over the last year of the Champions League to the competitor Sky also counts.
Campari -1,1%, slips to the lows for two months. JP Morgan raised its target price to 5,8 euros from 5,5 euros, confirmed as Neutral. Kepler Cheuvreux raised the target price to 6,2 euros from 5,6 euros, Hold confirmed.
In luxury Tod’s increases by 0,7%: Kepler Cheuvreux raises the judgment to Hold from Reduce, but lowers the target price to 55 euros from 59 euros. Ferragamo -1,4%, falls to its lowest since the beginning of January.
Sias +2%: MainFirst has raised its rating to Outperform from Neutral, target price to 11,60 euros from 8,20 euros. In an interview with Repubblica, Beniamino Gavio, speaking of Brazil, explains that he will look with interest at the opportunities that will arise as a result of the consolidation between Atlantia and Abertis. The merger between Sias and ASTM cannot be excluded, he added, and is not on the agenda.
