While the S&P500 reaches new records, Milan leaves room for profit taking after yesterday's leap following the European vote. Il Ftse Eb it slipped by 0,42% while the spread rose slightly to 166 basis points. In the morning, the price list had benefited from the data on Italian consumer confidence, which rose to 106,3 points in May from 105,5 in April, the highest since January 2010. Meanwhile, the Treasury has placed all the 3 billion CTZ expected at yield of 0,786%, in line with that of the previous auction.
Demand grows: coverage ratio to 1,51 from 1,47. For the six-monthly bonds due for auction tomorrow, forecasts are for a yield decreasing to 0,50% and sustained demand. The yield of the BTP rises by three basis points to 2,99%, spread to 158.
The others were positive and not far from the highs of the day major European stock exchanges: Madrid +0,25%, Paris +0,06%, London +0,43% and Frankfurt scores a new record at 9.940,82 points, up 0,49%.
The markets wade through Friday after Mario Draghi's announcement. From Sintra, Portugal, where the "Central banking" forum is underway, the ECB president anticipated that "a joint document by the ECB and the Bank of England will be released on the problems we have identified and the course of action we would like to choose to revitalize the Abs segment" so as to encourage credit to businesses, especially SMEs.
Draghi also spoke of the deflation risk with encouraging words: “We are aware – he said – of the risks of too long a period of low inflation”, but “I am confident, we will bring inflation close but below 2% as mandated”.
Macroeconomic data better than expected that give signs of acceleration of the economy push Wall Street where the S&P500 hit a new high. Durable goods orders rose 0,8% above forecasts in April, Consumer confidence as measured by the Conference Board came in at 83 points (up from 81,7 in April, which was revised slightly downwards) against firm forecasts At 82,7 points, the Case-Shiller index of home prices in the country's 20 major cities rose 12,4% annually in March, above analysts' expectations at 11,8%. The Dow Jones rose by 0,35%, the S&PO500 by 0,47%. The euro falls to 1,3621 against the dollar and WTI oil is stable at 104,16 dollars a barrel.
Mediaset runs in Piazza Affari which benefits from waiting for the different dossiers that could be unlocked in June, such as Digital+ and Premium. Berenberg then confirmed the Buy judgment with a target price of 3,65 euros (from 3,60 euros), Bpm +2,48% after the successful outcome of the capital increase, Atlantia +2%, Stm +1,2% and Mediolanum +1,13%. Fiat climbs 1,1% after Barclays overeweight recommendation. At the bottom of the Ftse Mib Finmeccanica -2,15%, Salvatore Ferragamo -1,95%, Ubi Banca -1,9%, Autogrill -1,7%.
Today they are finished in the spotlight real estate stocks as well after the news that the Blackstone fund has made an offer for the purchase of a portfolio of Italian state properties, mainly offices but also barracks, for a value of 800 million euros.
