It's a great session for Piazza Affari, toned up – as has happened many times in recent years – by the umpteenth decisive intervention by Mario Draghi: the (outgoing) president of the ECB, speaking at the annual Sintra Forum, was open to any solution in the event of lack of improvement in the Eurozone economy. Neither a new quantitative easing nor a further rate cut should therefore be ruled out. The result is that Piazza Affari closes gaining 2,46%, breaking through the psychological threshold of 21.000 points again (the last time it happened was a month ago, on 17 May), with all stocks in the main Ftse Mib basket in positive territory. It is easy to record the enthusiasm of the banking sector (even if the reaction to Super Mario's statements was initially timid), to which, however, must also be added that of the utilities, which benefit from the consequent devaluation of the euro against the dollar.
The best banks are Unicredit and Banca Generali, with gains of around 4%, but also Intesa Sanpaolo +2,3%, Ubi Banca +1,8%, Banco Bpm +3,5% and, outside the Ftse Mib, also Banca Ifis +2,3, 4,7%. The best stock of the day is CNH Industrial +XNUMX%: today the news that FPT Industrial, the global automotive brand of CNH Industrial, has donated the IPU (Irrigation Power Units). Utilities front: Saipem the best with 3,7%, Enel +2,6%, Eni +2%. All this with all due respect to US President Donald Trump, who instead attacked Frankfurt's move: “Mario Draghi has just announced the possible arrival of other stimuli, immediately making the euro fall against the dollar, and unfairly making it easier for them (Europe, ed) compete with the United States. They have been doing it for years, together with China and others”. In reality, even if less than the riot of European price lists, too Wall Street begins the overseas financial session in tune, with the Dow Jones and Nasdaq firmly in positive territory.
Going back to this side of the Atlantic, Draghi's words have also done a lot of good for the spread, which comes from weeks of great tension, on the swings of clashes within the government majority: today, however, Italian bonds have done a lot better than the market, so much so as to bring the ten-year yield to levels never seen under the Conte government. The yield differential between the 0,32-year Italian benchmark and the same German term (which in any case achieved by far its all-time low at -XNUMX%), it dropped to 243 basis points, the lowest since last March (254 points closing yesterday). The decline in the yield of the ten-year benchmark Btp was much sharper, which, at the end, stood at 2,11%, from 2,29% yesterday, and at levels not seen since mid-May 2018, before the formation of the Conte government.
Football and finance: the Juventus title also finds peace after the turmoil in the days immediately preceding and following the officialization of the new coach Maurizio Sarri (it is no coincidence that the announcement was made on Sunday ...): today, on the eve of Sarri Day ( the presentation is scheduled for Thursday 19 July), the share recovers almost 2% to 1,51 euro per share, but in reality the "sarriste" losses had been absorbed in the previous weeks, when the title had gained a lot of ground in the wake of the rumors that Pep Guardiola would instead have wanted Pep Guardiola on the black and white bench. The final result is that in this month lived without an official coach, the Juventus share has gained almost 10%. The same cannot be said, outside the main basket, of As Roma: the farewell press conference by Francesco Totti yesterday, which almost pushed the Giallorossi management to ask for the intervention of Consob, caused the share, which is worth half a euro, to lose 1,6%.
