Europe is once again split in two. The renewed fears about thepolitical instability in Lisbon, who asked the Troika to postpone the check for the repayment plan to September, and on the possible renegotiation of the bailout plan with international creditors mooted by the leader of the socialist opposition Seguro, brought the peripheral countries back into a corner: spreads in climb and bags in red.
The differential between Portugal's 8-year bond and the Bund has reached a seven-month high, touching 570%, with the spread at 1,22 points. The Lisbon Stock Exchange closed down by XNUMX%. Milano, which is certainly not lacking in political problems, does even worse, with a drop of 1,57%. The spread touched 303 basis points and then closed at around 294.
However, Madrid is the worst at (-2,32%). In the red, although fractional, also Paris -0,36%. Positively Frankfurt +0,66% while canceling gains London (+0,02%). Affecting moods are persistent fears about Chinese growth and the May data on industrial production in the Eurozone, which fell 0,3% over April and 1,3% year-on-year, doing worse than analysts' forecasts.
After the rush to new highs, US price lists they move flat, swinging around parity. Amazon has hit a new all-time high. Michigan's confidence index rose to 83,9 points in July, versus 82,7 the previous month, better than analysts' expectations. Producer prices in the United States increased by 0,8% in June, above expectations, which were +0,5%. On the quarterly front, JP Morgan beat expectations with net profits of €6,5 billion. Oil rose by 0,5%, above 105 dollars a barrel, while the euro-dollar exchange rate rose to 1,3042.
Stm (+2,86%), Parmalat (+1,23%), Fiat (+0,43%) and Eni (+0,38%) are moving against the trend in Piazza Affari. At the bottom of the Ftse Mib Telecom Italy (-4,73%), affected by Agcom's proposal to cut wholesale access fees to the copper network for 2013, a decision which would jeopardize the network spin-off operation. It also tumbles Enel (-4,71%), which discounts the cut by S&P (which also involved Snam and Terna). Enel Green Power -3,43% Atlantia -3,61%. Bpm, after the rises of recent days, drops 3,42%.
Rcs -3,07% awaiting the consultations between the shareholders of the Pact expected by the end of the month, which could meet on the same day as the BoD on the accounts on 31 July.
