I European lists archive today a seat with little movement and scarce volumes, made opaque by theassenza di Wall Street, closed for the 4th of July Independence Day.
Milano it lost 0,21%, at 28.386 basis points, between profit-taking on financial stocks and purchases on oil stocks, however confirming its highest level since 2008. Frankfurtloses 0,26%, Paris 0,23%, Madrid 0,59%. It's practically flat London (-0,09%), while Amsterdam moved against the trend and gained 0,29%.
Contrasting winds from China and Australia
The indications coming from Asia were scarce, even if the trade war between Beijing e Washington is enriched by another chapter and China is preparing to welcome US Treasury Secretary Janet Yellen with new restrictions on the export of about thirty minerals and rare metals (particularly gallium and germanium) used in the production of semiconductors, photovoltaic cells and missile systems.
La Central Bank of Australia instead, he greeted the markets with the unexpected decision to keep rates unchanged at 4,1% against expectations for a 25 basis point increase. However, future squeezes are not excluded.
In the generally stagnant panorama, the Petroleum, with Brent and WTI up about 2%, after the cuts announced yesterday by Saudi Arabia and Russia, which at least partially offset fears of a recession.
Euro-dollar stable, around 1,09.
Piazza Affari, Saipem and Nexi shine. Shadow generals
Business Square he takes a breather, after the recent race, also due to the attenuation of the hopes of a good takeover of Generali, -0,44% which had given the price list yesterday. Oil stocks remain well tuned, led by Saipem, +4,68%, which was promoted by Redburn to buy from neutral, with a price target of 2,57 euros, well above the current value of 1,376 euros. Fractional progress is made by Tenaris +0,55% ed Eni + 0,39%.
In the upper part of the Ftse Mib it remains firm nexi, up 3,66%, after yesterday's gains and in the wake of press reports last weekend of an interest by private equity firm Advent for a majority stake in Worldpay, owned by FIS, for more than $15 billion.
The exchanges were favorable to Enel, +1,59%, even if the electric giant has denied sale plans of Spanish assets hypothesized by the Iberian press. Specifically, there was talk of a possible interest by Repsol in Endesa, 70% controlled by Enel. Well Erg + 1,18% Telecom+ 0,96% Moncler +0,57%. The health sector raises its head and, after the losses of the day before, they appreciate Recordati +0,49% and Amplifon + 0,49%.
Sales were mainly concentrated on financial stocks, largely protagonists of the rally in the first half of the year.
Today they are negative Bper -2,52% Monte Paschi Bank-2,17% Bpm bank -1,89% Unicredit -1,67%. It also loses altitude General Bank -1,4%, while press rumors speculate on a possible change of ownership da Generali a Mediobanca (+ 0,09%).
She's shyly positive Pirelli, +0,15%, which has signed an agreement for the acquisition of 100% of Hevea-Tec, an independent Brazilian operator in the transformation of natural rubber: the operation will take place for an equivalent value in terms of enterprise value of approximately 21 million euro.
Spreads and yields are rising
Red is decidedly brighter for bonds, with the Italian paper clearly losing the comparison with the German one. The spreadin fact, it rises to 168 basis points (+5,98%), while rates increase and reach 4,13% for the ten-year BTP and 2,45% for the Bund of the same duration.
