The financial markets are starting to close in a big way supported by the effect of the approval of the US debt ceiling, a great result for President Biden, but even more by the feeling of an imminent turnaround in interest rates. In Milan, between modest exchanges (thanks to the holiday), the Ftse Mib index advances by one percentage point. The pan-European index STOXX 600 rose by 0,7%, with economically sensitive sectors such as mining, retail and oil & gas showing good growth. These are the latest news from the Stock Exchanges.
Stock exchanges latest news: rising markets, real estate is flying
Real estate, the most depressed sector, is worthy of a special note and is recovering strongly in view of a drop in yields. The European real estate index rises by 3,8%, With Government bond yields close to lows reports on signs of a faster-than-expected easing of price pressures in the euro area.
La Swedish real estate company SBB it jumped 24,5%, set for its best session in six years, after Bloomberg News reported that the company attracted interest from investors such as Brookfield Asset Management. German manufacturers of sportswear are also making a big splash. Puma +4,1% Adidas +3,8% in the wake of the improvement in the guidance of the American Lululemon. In Frankfurt, the rise of Prosiebensat.1, owned by Mef, after that Czech group PPF increased holding in the German media group 15,04% in shares and financial instruments.
Stock exchanges latest news: sharp drop in yields, spreads at lows
The most relevant data, even if conditioned by low trading volumes, concerns the Italian bond.
Late in the morning the ten-year yield trading at 4%, after an intraday low at 3,98%, minimum from the beginning of Aprilwhile its spread with the same German maturity it fell to 171 basis points, the lowest level since mid-February.
markets expect just under two rate hikes of 25 basis points by the end of the summer. ECB advisor Fabio Panetta he said the tightening monetary cycle is not over yet but that it won't last much longer and that we must not be too quick to raise rates. The markets also price in a 20% chance that the US central bank raise rates 25 basis points this month versus 50% last week.
To support the rise in the
Stock exchanges latest news: Piazza Affari rises with oil prices
Borsa Italiana contribute more than all oil companies: Saipem and Tenaris achieve a rebound of around 4%.
Sale Stellantis +2%. The group's car registrations in Italy in May rose by 3,5% compared to a 23,13% growth in the market. The market share dropped to 32,9%. It has announced that it will invest 160 million euros in the Rennes plant to launch a 100% electric compact SUV in 2025.
in the rest of the list featured Sciuker Frames +10% after the announcement of the double acquisition of the name change. Few stocks against the trend: Terna -0.5%.
Il Nasdaq futures is up 0,5%.
The week ends today in the USA with the publication of the new non-farm jobs created in May: consensus expects 195.000, down from 254.000 in April. Unemployment should remain around the lows of the last half century, at 3,5%. Average hourly wages are expected to grow 4,4% year-over-year.
Il Treasury Notes ten-year trades at 3,61%, from 3,67% the day before. Bunds at 2,24%. The euro is at 1,077.
