European stock markets rebound, e Business Square he leads the platoon arriving in the morning to gain over 2%, with the Ftse Mib index revising 18.000 points. The increases of the other lists were slightly more contained: London +0,68%, Paris +1,37%, Frankfurt +1,76%. The enthusiasm comes from overseas and had previously infected Wall Street and the Asian Stock Exchanges, positive after the Federal Reserve's decision to postpone the rate hike.
To drag the sunny day on the Italian stock market are above all the bank stocks, with the Popular at the forefront: Bper (which yesterday closed the agreement with the trade unions for 581 redundancies), Ubi Banca, Banco Popolare and Bpm are at the top of the Ftse Mib with gains between 4 and 6%, accompanied by Mps with +4,5%.
The other banks are also doing well: Unicredit at the end of the morning it was up +3,5% at 2,678 euros per share, Intesa Sanpaolo was over 2% at 2,252 euros. Also among the great protagonists of this Tuesday on the Stock Exchange Saipem, which travels over +3% to 0,3713 euro on the good momentum of oil, which remains at its 11-month high (today Brent is growing above 50 dollars a barrel, even Wti close to the 50 threshold), and also on the news of a new contract in Saudi Arabia. As reported yesterday on the Riyadh Stock Exchange website, in fact, the company has been awarded an onshore contract worth 180 million by the Saudi group PetroRabigh, which involves the construction of a plant for the treatment of vanadium and the disposal of caustic soda.
Just before midday the only stock in negative territory in the main basket is Cnh Industrial with a modest loss of 0,22%, below 7 euros per share. Performance in contrast with those of the industrial sector outside the Ftse Mib: Astaldi and Brembo command the Star segment with gains between 3 and 4%.
Good news on the macro front: according to the European Statistical Office, Eurostat, the third and final estimate of GDP for the first quarter indicates an increase of 0,6% on a quarter and 1,7% on a year. Those forecasts exceed those announced last month, by 0,5% and 1,5%, respectively. In recent days, the ECB also revised upwards its growth estimates for the Eurozone, estimating an expansion of 1,6% for this year from the 1,4% previously indicated.
It reduces it Btp Bund spread, which yesterday was back above 140 basis points: today in the morning it is reported around 136 points. Euro almost stable against the dollar (today 1 euro is worth 1.13721 USD), while the not encouraging news on Brexit sinks the pound against the eurozone currency: today a pound buys 0,78 euros, compared to 0,79 on Monday or the maximum of 0,80 reached in April. The low of the year is 0,73 in January.
