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Annual bot at historic lows, weak banks and stock exchanges

With a negative yield of 0,3%, the annual BOT reaches its all-time low – Awaiting the intervention of the president of the ECB, Mario Draghi, the stock exchanges remain cautious and bank stocks retreat – Eni stable after the accounts – Campari shines and Banca Mediolanum – Crolla Ovs

The Stock Exchange moved little, but the sales of bank stocks continue. Meanwhile, the markets are preparing to listen to Mario Draghi's words after the French vote. TO Milano, in the middle of the day, the Ftse Mib index lost 0,03%, around 21.500 points. Almost flat too Paris, Frankfurt e Madrid. London + 0,23%.

This morning the Treasury assigned 6,5 billion of the Bots at 12 months to a gross yield of 0,304%, down 7 basis points from the previous month. The previous all-time low was last January (-0,250%). The spread remains around 184 basis points.

Note the brilliant performance of the Greek card: yields are at their lowest since the 2012 debt restructuring with the 5,5-year bond just over XNUMX%.

The news of the sudden firing of the director of the FBI, James Cobey, by President Trump. Comey handled the investigation into possible Russian interference in US elections.

Il dollar it recorded a slight drop to 1,086 against the euro, from 1,087 yesterday evening. Gold up slightly to 1.223 dollars/ounce. Petroleum in progress with Brent at 49,2 dollars per barrel (+1%).

Eni +0,20% later publication of quarterly accounts. Adjusted net profit is at a two-year high at €744 million compared to €2 million in the same period a year ago. Revenues climbed 35% to €18,04 billion while adjusted operating profit jumped 215% to €1,83 billion. "The generation of organic cash flow and proceeds from disposals - reports a note - will allow us in 2017 to fully finance investments and dividends at a Brent price level well below the current one".

Saipem it advanced 0,1% after announcing new orders for 500 million dollars. Tenaris + 0,6%.

The European Stoxx index of the banking sector falls by 0,5%. Understanding drops by 0,84%, Unicredit reduces the loss to 0,2%. In Madrid bbva -1,6% and Santander -1,2%, in Frankfurt Deutsche Bank -1,2%. 

Among the blue chips, the rise of Banca Mediolanum (+3%) stands out, benefiting from the promotion of Kepler Cheuvreux to Buy da Hold. Also noteworthy is the fall of Bper Banca (-4,6%), after the unconvincing denials of the management on the possible purchase of Unipol Banca. Unipol loses 1,9%, Banco Bpm drops by 1,9%, Mediobanca -1,5%, Ubi -1,8%. Campari's run continues (+3,4%) after the good data announced yesterday. Shares of the spirits company gained 4,4% yesterday. Little move Enel (-0,1%), Telecom Italia loses 0,8%. 

Among the industrialists Leonardo Fiat Chrysler they slide down 0,1%. Instead they advance stm (+ 0,6%), Buzzi (+ 0,3%) and Recordati (+0,4%). In luxury still discounts for Tod’s (-2,7%) And Moncler (-1,8%). Sharply down Ovs just above the price (6,11 euros per share) of the placement concluded yesterday by Coin on 11% of the share capital.

The title Juventus it drops more than 2% after that yesterday's victory against Monaco: since the beginning of April the share has almost doubled.

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