On the eve of the G20, equity markets remain held back by tensions related to North Korea, which continue to limit risk appetite. Thanks to the bank rebound, Business Square records a slight progress: Ftse Mib index +0,14%, still below 21 thousand points. In red the other European Stock Exchanges: Paris -0,9%, reductions between 0,6 and 0,8% for Frankfurt, London e Madrid.
The movement benefits Banks, Insurance and Auto, the only sectors to rise, and disadvantages Utilities and Pharmaceuticals, down by about one point. Recordati also drops by one point.
Voltage on bond market, where the yield on the ten-year Bund reaches its highest level for the year at +0,52%. That of the Btp also rises, to 2,20%.
Start tomorrow in Germany the G20, where the first meeting between US President Donald Trump and Russian President Vladimir Putin will also be held.
Il dollar marks a slight drop against the euro to 1,136, from 1,135 at yesterday's close.
During the day, after the divisions between the members of the Fed emerged from the minutes of the last meeting of the monetary committee on the timing of the return to normality of the budget, important data are expected from the USA. First of all, the Adp report on employment in the private sector will be released: expectations are for 185 new jobs, less than the 253 recorded in May.
On the front of the Petroleum, at 16 pm the data on stocks will be announced: a drop of around 30 million barrels is expected for US stocks. In the meantime, oil recovers after yesterday's fall: Brent at 5,5 dollars a barrel (+48,4%). Yesterday it lost 1,3%. Eni -3,6%: Bernstein cuts the target price to 0,1 euros from 15 euros, confirms Outperform. Saipem +19%.
Milan is doing better than Europe due to the presence of banks. In the limelight Banca Carige, with thrilling variations. Around 12 the stock gained 0,43% after a brief slip that had led it to zero the gains. In the morning, the stock also scored +6%. This morning it announced that it had sold bad loans for 938 million at a price equal to 33%. Meanwhile, rumors have spread about a possible takeover of the title. Volumes are more than double the monthly average. It has gained more than 35% since the beginning of the week.
Salt too Prelios (+2,24%) on the news that it will act as servicer in the securitization operation of Carige itself.
Cerved +4% after signing an exclusive agreement with Quaestio Holding for the negotiation of an agreement that contemplates an industrial partnership for special servicing activities. The agreement also provides for the joint acquisition of Mps' servicing platform (Juliet), which Quaestio will treat exclusively as the main investor in the securitisation.
The Italian banking stoxx rises by 0,61%, the European one drops by 0,13%. Unicredit + 1,8% Banco BPM + 2,3% Understanding -0,2% Ubi + 0,6%.
Note the braking of Mediaset (-1,1%): JP Morgan cuts its target price to 3,6 euro from 4,4 euro, Neutral assessment confirmed. Instead, it lowers the recommendation of the subsidiary Mediaset Espana to Underweight from overweight.
Among the industrialists, positive Leonardo (+ 0,6%), stm (+ 0,9%) and Fiat Chrysler (+0,5%). In cash Brembo (+2,82%) with volumes slightly above the average. In the same area well too Landi renzo (+5,72%). The automotive sector in Europe is one of the few positive sectors.
Still on the upswing Yoox (+1,7%). Brake Moncler (-1,5%). Sias gains 2,13% after yesterday the Italian government reached an agreement in principle with the European authorities for the extension of some motorway concessions in exchange for investments.
