THE CRUDE FLAMES. ENI AND SAIPEM RISE
ADVANCE TELECOM ITALIA, NORMAL DAY FOR MPS
Seat slightly down a Piazza Affari +0,27 Ftse Mib index at 22163 points which is affected by the climate of uncertainty on the markets and with investors who wonder whether new increases are possible or whether instead a physiological correction is necessary.
Similar trend for the other European squares: London +0,07%, Paris, London.
On Wall Street the S&P500 index down 0,3%, Dow Jones -0,3%, Nasdaq -0,5%.
The first survey of consumption in the US in May (advanced retail sales) shows growth of 0,3% on the previous month, equal to only half of what was expected.
The spread between BTP and Bund it closed at 154 basis points, from 152 basis points at the opening, for a ten-year domestic rate of 2,93%. At the auction, the Treasury achieved another success, placing all 3,5 billion euro of 3-year BTPs at a new all-time low of 0,89%, 4 billion 7-year BTPs at 2,12% and one billion Thirty-year BTPs at 4,05%, registering solid demand.
The most relevant data concerns energy.
Oil runs, up 1,8% both Wti (105,9 dollars a barrel) and Brent (111,8 dollars) following the advance in Iraq of Sunnis close to Al Qaeda. After conquering the country's second city, Mosul, in the north, they are advancing south and are now only 100 kilometers from the capital Baghdad, where Parliament today did not find the necessary quorum to vote on a state of emergency.
The rise in crude oil pushes Wall Street higher oil stocks: Exxon +0,9%, ConocoPhillips +1%, Halliburton +1%.
Highlights in Milan for Eni +1,05%. There is also an upgrade by a large foreign broker and also the strategic announcement for exploration in Kazakhstan.
Well bought too Saipem which gains 2,6% according to traders following covers.
In evidence, after the denunciation of the Telco agreement by Generali, Telecom Italia +1,06%, back above 1 euro. Pirelli flat.
Quiet session for Monte PaSchi after the roller coaster linked to the launch of the 5 billion capital increase. The stock, which was positive throughout the morning, closed down by 0,68%. The rights drop 2,88% to 17,86.
The other major banks are doing worse, such as Understanding which drops 2,03%. Unicredit -0,74%) The popular ones are also weak.
Carige it loses 2,59% pending the announcement of the terms of the capital increase and despite yesterday the Foundation confirmed that it will subscribe pro rata for 19% thus avoiding the overhang effect on the rights.
In terms of increases, purchases also up Telecom (+1,06%), while Pirelli closed flat.
Finally among the small caps it leaps by 25,25% Class Publishers with volumes well above the average. Yesterday it announced a contract with the Chinese group Century Fortunet Limited for the development of the B2B e-commerce platform founded by Century Fortunet Limited.
