The decline of the European Stock Exchanges is accentuated, penalized by the growing uncertainty about the fate of Greece and the disappointing data arriving from Germany: the Zew index, which measures confidence across the Rhine, fell to 31,5 points from 41,9 in May. The economic situation index is also down sharply.
In Milan, the FtseMib index fell by 1,49%, below 23 thousand. The Paris Stock Exchange falls by 0,95%, Frankfurt -1,15%, Madrid -1,45%. London loses 0,6%. The Athens Stock Exchange falls by 3,6%.
The spotlights remain focused on Athens, where the capital outflow from Greek banks: 400 million euros just yesterday, double the average of recent days.
The euro is stable at 1,126 against the dollar.
On the market for government bonds, continues the pressure on the peripherals but also, for the first time, on France, very exposed to Greek debt: the BTP is traded at a yield of 2,35%, the spread widens to 157 after reaching a peak of 165, against 164 for the Spanish Bonos. French Oats widen the gap to 64 bps. The yield of the German Bund falls to 0,77% from 0,82% yesterday.
Il oil is on the upswing after three days of decline: Brent at 64,2 dollars a barrel (+2,2%), Wti at 60 dollars (+0,8%). Eni drops by 0,9%. Saipem is tied: KeplerCheuvreux has raised the judgment to Hold da Reduce. On the European Stock Exchanges, the greatest declines concern the Automotive sector. In May, the European car market grew by only 1,4%. the. The big German manufacturers are down: Volkswagen -1%, Daimler -1,4%. Fiat Chrysler loses 1% despite the growth in sales. the good sales result, clearly higher than the market (+9%).
New heavy day for the banks: Intesa falls by 1,1%, Unicredit [CRDI.MI] -0,7%, Monte Paschi -0,1%. Generali is also down - 0,6%. Strong decline also for Finmeccanica -2,9%. Negative session for Telecom Italia -1,7%. Enel drops by 1,1%. The subsidiary Enel Green Power drops by 0,7%: HSBC has started hedging with a Buy recommendation and a target price of 2,10 euros.
