Morning slightly up for European stock exchanges, despite nervousness over the issue of the US debt ceiling and fears about monetary policies in the United States and Europe, which are weighing on market moods after the recent hikes. In the middle of the session, the European stock exchanges are mixed awaiting news from the negotiations on the ceiling of the US public debt. The Dax of Frankfurt it is just below parity, close to the all-time highs retouched on Friday.
It is, at least in appearance, an exception Business Square -0,34% but the decrease is due to the exceptional concentration of coupons in the dividend day. In today's session, 19 blue chips of the Ftse Mib detach the dividend with an impact on the main index of the Italian stock exchange estimated at 1,27%, or about 350 points. Net of this effect, therefore, the index is up by about one percentage point.
Moody's absolves the Italian debt, new penalty for Juve
The performance of the BTP after confirmation of the rating by Moody's: The spread on the Bund on the ten-year stretch it is about 182 basis points, compared to 184 at Friday's close. The 4,25-year BTP rate stands at 4,26%, after closing at XNUMX% the previous session.
During the day, keep an eye on the speeches of some ECB representatives starting with the chief economist Philip Lane, waiting for the president Christine Lagarde to speak again on Wednesday. In addition to the tensions over the US debt, the PMI polls arriving tomorrow from the euro area and Wednesday the Ifo index on the morale of German companies will weigh.
If the public finance celebrates the narrow escape from Moody's relegation, the same is not true for the Juventus. The FIGC federal prosecutor's office has asked for one penalty by 11 points for Juventus in the proceeding for capital gains in the hearing of the federal court of appeal. The request comes after the 15-point penalty inflicted on the sports club last January had been suspended pending a new meeting of the body, whose verdict is expected today.
With three matches remaining in the championship, Juventus are second in the championship with 69 points, behind the already Italian champions Napoli. The decision would take Juventus out of qualifying for European competitions. On the news the title on the Stock Exchange, which had already opened weakly, it worsened -4,45% to its lowest since mid-December 2022.
Milan down with the detachment of dividends, focus on banks
They shine at Business Square bank stocks: lead the race Mps Bank +4% ahead of Bper +2,7%. Increases of more than 2% also for Fineco e Bper.
Solo Prysmian accuses a drop of more than 1% in a session characterized by the momentum of turnover. European chip stocks have not reacted to Beijing's move to ban US firm Micron Technology Inc from selling memory chips to key domestic industries.
The actions of Infineon, stm e Asml remain close to parity, while the shares of Micron listed in Frankfurt lose 5,14%, after the Chinese measure.
In GreeceMeanwhile, the ruling Nea Demokratia party got a clear cut election victory yesterday, however remaining just short of an absolute majority, making a new round of elections more likely next month The news led to a drop in Greek government bonds, while the benchmark stock index jumped by 7,1% with banks to drive earnings.
Stock exchanges latest news: eyes on US debt
Future dishes and Ten-Year Treasury Notes on last Friday's levels at 3,64% yield, pending the resumption of negotiations on raising the US debt ceiling. Ahead of a meeting tonight between President Joe Biden and House Speaker Kevin McCarthy. Back from Japan, Biden the Republican leader called from Air Force One yesterday. The parties still appear to be a long way from an agreement, with Republicans insisting on a multi-year spending cap and an increase in defense spending, while Democrats seek to protect funding for health care and education.
