The recession is accelerating, but the stock markets are not feeling the pinch. "The eurozone is stalled, but people are buying into the medium-term perspective, betting that things will improve around September," Global Equities' David Thebault told Reuters. The streams are strong. With all this liquidity, investors are buying into every low.”
In Business Square (+0,04%) the FtseMib index is practically unchanged: 17.322 points. At the moment Paris is losing 0,14% and Frankfurt 0,03%. London drops by 0,2%.
The GDP of the Eurozone it is expected to drop by 0,1% on the previous quarter and by 0,9% on the first quarter of 2012. The GDP of the first quarter of Italy it recorded a decrease of 0,5% on the previous quarter and of 2,3% on the same period of 2012. The figure is slightly worse than the average forecast by analysts, which indicated -0,4% and -2,2%. This is the negative record since the historical series on GDP existed. Even France (-0,2%) falls into recession after three negative quarters. Modest rebound in Germany, +0,1%.
Continue the strengthening of the dollar against the euro and other currencies: The single currency fell against the US currency to 1,290, from 1,292 last night. It is the fifth consecutive day of strengthening of the greenback. Meanwhile, the euro strengthens against the Swiss franc, which fell to 1,2508, its lowest since May 2011.
On the government bond market, the 10-year BTP is trading at a yield of 4,01%, unchanged from last night. Stable spread at 264.
He runs in Piazza Affari Fiat up 7,23%. Big leap for too MontePaschi (+7,27%) after the results of the quarter. It also recovers Mediaset +4,91% which was promoted to buy by Ubs. The banks move in no particular order: Unicredit rises by 0,39%, Intesa +1,42%, Banco Popolare +0,5%. Sales on Banca Popolare dell'Emilia -1,41% after the results.
Recover Fondiaria-Sai (+3,4%) after yesterday's fall. Generali falls by 0,27%. Fiat Industrial rises by 0,1%, Pirelli gains 0,9% after the declarations of the president Marco Tronchetti Provera, according to which institutional investors of Qatar are considering entry into the capital of the Milanese company. Among industrialists, StM rises by 0,57%. Weak Finmeccanica -0,42% after the results of the quarter. Eni drops by 0,53%, Saipem -0,94%. The price of oil is falling: Brent at 102,2 dollars (-0,3%), Wti at 93,7 dollars (-0,4%). Telecom Italia loses 0,5%.
