Political uncertainty overwhelms Business Square, which today loses 2,03% and drops to 21.641 points, also holding back the other European lists, which were challenged in the finale. Madrid -0,56%; Paris it is flat; positive Frankfurt +0,25% and London + 0,19%.
Despite Prime Minister Giuseppe Conte's attempt to send reassuring messages on the future of government and the Quirinale embankment, the markets turn their backs on Italy after the recent purchases and investors take advantage of the apparently critical moment to cash in. In parallel, sales on government bonds and so on spread between Italian and German ten-year bonds it rises to 192,6 basis points, +4,28%, after exceeding 200 points in the session, while the yield on 10-year BTPs returns to 1,6%. The highest price for uncertainty is paid by bank and utility stocks, following a series of positive sessions: Bpm bank -6,03% Ubi -4,48% Unicredit -3,66%; Ps -5,79.; Terna -4,15% Enel -4,13% Snam -3,97% Ivy -3,44%. Among others it is heavy Telecom, -2,96%.
Practically alone stm +2,29% is positive among blue chips. Shy plus sign for Moncler + 0,05%.
The Italian sky turns red, while Wall Street starts off on the right foot, with tech stocks dragged along by Microsoft (+1,2%), which closed a record year with yesterday's quarterly report, shattering forecasts. Bill Gates' creature has reached a new record at the start (140,67 dollars) and is consolidating its capitalization well over one trillion dollars. Small movements for BlackRock, first investment company in the world, which has disappointed analysts' estimates on quarterly earnings, with investment advisory and securities lending revenues declining, and costs rising. Meanwhile, President Donald Trump is once again pressing the Fed for a rate cut at its meeting on July 30 and 31, while the odds that Jerome Powell will implement a 0,5% cut are reduced. The bets had risen, following yesterday's statements by the president of the Federal Reserve of New York, who however corrected the shot today. In fact, Treasury prices are declining precisely because of this swing in expectations. L'euro-dollar results in relegation and moves in area 1,121. If the Fed's choices can weaken the greenback, the expectation of new expansive moves by the ECB at its meeting on 25 July holds back the single currency, which also weakens against the Swiss franc, reaching a two-year low. at 1,102.
Il oil slows down, after the recovery following the tensions in the Middle East. Brent is currently gaining 0,34%, 62,14 dollars a barrel; the WTI loses 0,14%, 55,22 dollars a barrel.
