The prospect of a US-EU auto deal dampens fears of tariffs between the US and China, which should go into effect tomorrow. The closure on the European markets is positive, with Piazza Affari up 1,05% driven by Fiat, +5,8% and around. The sector is also the protagonist on the other price lists, in particular in Frankfurt, +1,19% and Paris +0,86%. The US would be in favor of limiting tariffs on European cars, if the EU does the same with American ones. Angela Merkel agrees, as long as the tariff cut affects not only the United States, but also other countries; otherwise the plan would not comply with WTO rules. Warmer London, +0,4%, tonic Madrid +1,06%.
After a day of partying trading is back on Wall Street, which is currently on the rise, pending the release of the Fed minutes (at 14 pm New York time) relating to the June meeting. Boeing did well (at the moment +0,7%) after the news of a partnership with the Brazilian aerospace manufacturer Embraer. The latter title does not take the prospect with the same enthusiasm and drops by 7% on the San Paolo Stock Exchange.
The euro climbs back against the dollar in area 1,17. Oil suffers slightly from the EIA's weekly data on US inventories, with a surprise increase in crude inventories. Brent $78,14 a barrel, -0,13%; Wti $71,33, -0,81%.
Negative session for Italian government bonds: the yield on the 10-year BTP rises to 2,73% and the spread with the Bund rises to 242.40 points basis (+3,72%). Operators speak of now summer trades, with inconsistent volumes and which tend to accentuate volatility.
In the business square Fiat is the queen of the price list also thanks to the "buy" promotion by Jefferies. Travel in tandem Exor, +1,95%. Stm rebounds, +2,99%, after yesterday's slide with the decline in the sector at European level. The banks are doing well, where Banco Bpm, +2,03%, is first in class, +2,21%.
Generali rises by 2,28% with the news of the sale of 89,9% of Generali Leben to Viridium Gruppe, a German company specialized in Life portfolio management. The total collection expected for Generali is up to 1,9 billion.
Luxury remains weak: Ferragamo -2,11%, on which JpMorgan lowered the target price to 19 from 20 euros, confirming the neutral recommendation. Still in fashion, Moncler -1,64%. Fractional decrease for Unipol -0,73%, Unipolsai -0,66% and Prysmian -0,44%.
Outside the main list, the euphoria of Juventus does not stop, +11,19%, for more and more probable arrival of Cristiano Ronaldo. The phenomenon has sent traded volumes into a tailspin: 32 million items compared to an average of 30 million over the last 1,9 days. The Portuguese forward – says Radiocor – would by now be determined to leave Real Madrid and convinced by the proposal from the Juventus club that, according to last-minute rumors, he would even aim to present him officially on Saturday 7 July.
A four-year contract worth 30 million a year would be ready for him while Juve should pay his price tag around 100 million euros: a figure already "recovered" - albeit virtually - on the Stock Exchange since the first rumors about the deal spread. Rome +9,74% and Lazio +6,08% were also effervescent. Continues to make sparks on Aim Longino & Cardinal, + 18,98%, after yesterday's explosive debut.
