Positive opening this morning for the Nikkei rising by 1,17%, followed by other Asian stocks are on a higher note. Last night Wall Street also closed in progress with the Dow Jones up +0,53% and the S&P up 0,32%.
In another day of tensions, not only financial, due to fears related to Brexit and the world economy, the financial centers have once again shown their pragmatism. Paradoxically, tensions have eased after the tragic episode of the murder of Labor debutante Jo Cox, she was shot during a public meeting. The assailant, who was arrested, would have shouted "Britain First", a gesture which therefore appears to be directly related to the referendum campaign on permanence in the European Union. The pro-Brexit front has suspended propaganda activities as a sign of respect.
And so the markets immediately drew the financial consequences: the gesture, however dramatic, could influence the outcome of the referendum in favor of remaining in Europe. So yesterday the European stock exchanges after the news and in the last half hour of trading visibly reduced their losses by closing in the red but far from the intraday lows: the Ftse MIb lost 0,98%, Paris -0,45%, Frankfurt -0,59 .0,27% and London -XNUMX%.
But volatility and uncertainty remain high as evidenced by the flight to safe-haven assets that does not stop. Gold has risen again and is now above $1.300 an ounce, a two-year high. The German Bund updated the new historic lows (-0,02%) and in parallel the Btp Bund spread reached its one-year highs at 157 basis points and a yield of 1,56%. In terms of exchange rates, the euro moved below 1,12 against the dollar.
THE MARKET MOVERS OF TODAY
After the Fed and the Boy left monetary policy unchanged pending the Brexit referendum (it is "dangerous" and could have future consequences on economic and financial conditions) and after the Eurotower sounded a new growth alarm (in its bulletin monthly published yesterday) today we look at the new institutional appointments and macro data on the agenda. The day of economic-financial events opens in Luxembourg with the meeting of the European Union's economy and finance ministers (Ecofin) who will not be able to ignore the new warning from the IMF: yesterday the Washington institute warned that "the The Eurozone finds itself at a crucial crossroads” marked by “political divisions and Euroscepticism” asking governments to show “collective political determination”. Also today, the president of the ECB, Mario Draghi, gives a speech in Monaco on the occasion of the awarding of the SignsAwards. The economic forum between Italy and Russia "Investments and joint ventures: what is the current scenario?", dedicated to the bilateral economic relations between the two countries, continues in St. Petersburg. Istat releases data on foreign trade and import prices in April, while data on labor costs are expected for the Eurozone in the first quarter. Lastly, data on new residential construction sites and building permits are expected from the United States in May.
BANKS: FROM THE BEGINNING OF THE YEAR -50 BILLION
In Piazza Affari yesterday it was always the banks that weighed down the blue chip index: Mps which lost 3,3% and Unipol 3,5%. Unicredit -2,22% as the "auditions" for the new CEO begin.
Since the beginning of the year, the sector has lost around 50 billion euros with some securities that have left a huge amount of their capitalization in the field, due to corporate events. Carige saw its value fall by 70% and Bmps by 60%. And then there is the saga of the "aborted" quotations: after the flop of Banca Popolare di Vicenza, the situation also begins to take a turn for Veneto Banca with the shareholders withdrawing from the increase of which 1% would be subscribed for now and for which a new intervention by the Atlante Fund is looming.
Eyes today then on RCS: today is the deadline for presenting an improvement in the offer from Cairo which is allegedly preparing to relaunch. At the same time, the Board of Directors of the publishing group is meeting to evaluate the takeover bid (fairness opinion) of the consortium International Media Holding, which will see the offer start on Monday at 0,7 euros per share.
