Brexit polls see the “remain” front in recovery and ahead of the "leaves" (45% against 42%). The pound posts a strong recovery and the European stock exchanges gain confidence: Milan rises by 2,45%, despite being a coupon day (which weighs on average by 0,7) and therefore substantially in line with the rest of the European indices, Paris +3,50%, Frankfurt +3,43%, London +3,04%.
With the tensions easing, the race for safe haven securities such as bunds and gold also eased. The BTP-Bund spread it closed down 137 basis points and yielded 1,44% and gold was down 1% at $1.285 an ounce, moving away from 1.300 points.
Also to Wall Street the indices move in positive territory with bank stocks in the spotlight. In terms of exchange rates, the euro-dollar rose above the threshold of 1,13. Attention is directed to Federal Reserve Chair Janet Yellen, who tomorrow and Wednesday will be in Congress for semi-annual testimony on the state of health of the economy. The market expects cautious tones on the future trajectory of monetary policy, after the FOMC, at the end of last week's meeting, favored prudence over interest rate hikes and the recovery. Oil leapt with Brent rising by 2,22% to above 50 dollars a barrel and Wti by 2,31% to 49,09 dollars a barrel.
A Business Square banks rebound after a week of sell-off. Eyes on Unicredit +3,4% after the rumors about the appointment, shortly, of the new CEO, which should be Corrado Passera. Intesa +3,04%, Mps +5,17%, Ubi Banca +0,57%. In contrast Banco Popolare -2,7% which closed the increase on Wednesday and the bride Bpm unchanged.
However, the best stock of the Ftse Mib is Azimut +8,18%, followed by Yoox +6,68%, Unipol +6,26%, Saipem +5,91% and Mediobanca +5,53%. In the spotlight the municipal companies including above all Acea, which later the election of Virginia Raggi as mayor of Rome, he lost 4,79% to 10,94 euros, while Kepler Cheuvreux reduced the target price from 14 to 12,5 euros, confirming the hold recommendation. Analysts are worried that the new mayor Raggi could change "the board of directors for political reasons", ending up altering the group's strategy in a negative way. Iren is also bad (-5,2%) after the turnaround in Turin with Appendino's victory over Fassino. Hera also loses ground -4,11% for the municipal company of Bologna where the mayor Pd Merola was confirmed. Little move A2a which slips by 0,59%. In Milan Sala, as well as his opponent Parisi, has spoken out for the municipality to fall below 50% of the company.
It should be remembered that in Piazza Affari today the detachment of the coupons weighs on the performance of the securities. Cairo Communication +0,6% after the 33% relaunch of the Ops on Rcs, which went from 0,12 to 0,16 shares for each RCS share. The offer of Bonomi and partners through International Media Holding also starts today, which will have five days to decide on a possible relaunch of their offer. RCS dropped 1,73%.
