GREECE'S BLUFF MISLEADS STOCK EXCHANGES. STM ADVANCES, ANOTHER INCREASE FOR FINMECCANICA
"There is still a lot of work to do." With these words Christine Lagarde, director general of the Monetary Fund, froze the enthusiasm on the agreement between the creditors and Greece fueled yesterday by the declarations of Alexis Tsipras.
This is how the Stock Exchanges slow down, after yesterday's euphoria. In Milan, the Ftse Mib index dropped by 0,49% to 23.744 points. Also down were Madrid -0,47%, Paris -0,86% and Frankfurt -0,79%%. Government bonds moved little: the BTP is traded at a yield of 1,85%, practically unchanged compared to yesterday. Spread at 132. The euro/dollar exchange rate unchanged at 1,090.
Under the ballast of the crisis in Athens, Wall Street also falls despite the "historic" rise in sales of new homes: +3,4% in April, the largest monthly rise since 2006. The Dow Jones index loses 0,3 %, similar variation for S&P500 and Nasdaq.
The most positive notes come from technology. Fly StM +3,3% on the wave of the purchase by Avago, a Singaporean company, of the American Broadcom, a company specializing in chips for wireless technologies. The deal is valued at nearly $37 billion and is the largest acquisition ever in the semiconductor industry.
Salt too Finmeccanica +2%: attention to Avio offsets the negative impact of the postponement of the sale of Ansaldo Sts to Hitachi for Chinese antitrust claims. Down Fiat chrysler –0,1%, despite the announcement of new hires at the Melfi plant. Cnh Industrial -1,9%. Among the banks, Unicredit lose 1%, Understanding -0,4% MontePaschi -1,3%.
Enel it wiped out the declines in the morning and closed with a slight increase of 0,2%. positive Telecom Italy +0,5%. In luxury, the rise of stands out Ferragamo + 1,1% Yoox + 0,8%.
