Unemployment falls, the spread between the Btp and the Bund slips towards new lows and the stock market summer promises stable stability. The Ftse Mib index (+0,6%) a Business Square it rises to around 21.600. Positive territory, with variations around 0,2%, for the other markets of the Eurozone. They do even better Zurich (+ 0,6%) and London (+ 0,5%).
In June in Italy the unemployment rate it fell to 11,1% from 11,3% the previous month, Istat announced. The unemployment rate in the 15-24 age group rose to 35,4% from 36,5% (revised from 37%) in May. In the eurozone, the figure fell to 9,1% to its lowest level since February 2009.
In Germany consumption in June rose by 1,5% on June 2016, less than forecasts, which indicated +2,7%. At the European level, the index rose by only 1,3%, well below the ECB's target.
It slightly weakens theeuro, at 1,172 on the dollar from 1,175 on Friday night, but remains above the psychological level of 1,17 dollars.
It strengthens the Ten-year BTP: yield drops to 2,08% from 2,11% on Friday. The yield differential between the Italian 155-year benchmark and the same German maturity falls to 159 basis points from XNUMX points at last Friday's closing.
Strengthening continues Petroleum: last week Brent rose by more than 9%, this morning it is at 52,7 dollars a barrel (+0,4%). Sentiment on crude oil is turning very bullish after OPEC announced it will meet its members in Abu Dhabi next week to discuss compliance with the agreements. Meanwhile, the United States is evaluating the possibility of imposing sanctions on Venezuela after yesterday's elections on the constituent assembly which according to Washington are "distorted". In the Italian list Eni is up 1,5%. Saipem +0,35%. Goes down Tenaris (-0,66%).
Shines Telecom Italy (+2,22%) on the wave of the prospect of the spin-off of the network. Equita writes: “We think that separating the network is a strategic mistake: the telecommunications business is an infrastructure business and needs the infrastructure and that there is little chance that Vivendi will do so. However, we calculate that, in the event of a spin-off, the remaining part, ie services, would implicitly trade at 4,3 times the EBITDA”. Mediaset -0,5%. In Paris Vivendi loses 1,6%.
Advance to London Hsbc, the largest bank in the world, which rose by 2,7% after announcing better-than-expected results and the third buyback in a year.
Fight the Italian banks: Understanding salt of 1%, Unicredit drops by 0,8%. They also go down Bpm bank (-0,1%) And B for Bank (-0,5%).
Also featured on the Milanese price list Ferrari (+1,06%) pending the BoD meeting on 2 August. Fiat Chrysler +0,20%. The company received U.S. approval for its 2017 diesel-engined models on Friday.
It also accelerates Prysmian (+2%), one step away from the historical record. This morning Morgan Stanley analysts raised the target price on the stock to 29 euros from the previous 27,5 euros, confirming the Overweight opinion.
stm salt of 1,9%, Buzzi + 2,4% Recordati +0,9%. In the luxury sector, they go up Yoox (+ 2,1%) and Tod’s (+1%), while they go down Luxottica (-1,5%) And Ferragamo (-0,8%) awaiting the BoD.
Back off Prelios (-4,5%) after the offer of the Chinese holding company Cefc was rejected.
