The Monetary Fund holds back on the agreement with Athens, but the Stock Exchanges accelerate in the belief that, at this point, a change of course is virtually impossible. Meanwhile the ECB, for the third consecutive day, has paid new Ela funds to Greek banks.
EU EXCHANGES ADVANCE, ATHENS IS IN THE RALLY
A Business Square the Ftse Mib index rose by 0,4%. Frankfurt +0,7%, Paris +1,2%. Best of all he did Athens: +6% after +9% yesterday. Today Alexis Tsipras has been engaged in mediation between the positions of the majority of him. Meanwhile, Deutsche Bank has calculated: the new proposals will have a recessive effect on GDP of around 3%.
Wall Street fluctuated on parity in the mid-afternoon: Dow Jones +0,1%, S&P500 unchanged. The Nasdaq -0,1% retreats from the highs. Facebook +1,8% to 86,3 dollars marks a new all-time high.
The macro data is contrasting: in May 546.000 applications for the sale of new homes were initiated, a level not seen since February 2008. However, the Markit PMI index on the expectations of purchasing managers of manufacturing companies is below expectations, in June it fell to 53,4 from 54 in May, economists had expected 54,1. Durable goods orders decreased (-1,8%) in May. The dollar appreciates against the euro to 1,116 from 1,134 at the close.
BPM AND BPER PUSHED BY GS, GIULIA EFFECT ON FCA
Among the banks, it stands out Bper (+1,74%), included in the Goldman Sachs conviction buy list (buy, tp at 11,70). Banca Popolare di Milano marks +2,5% (rating buy, target 1,13 euros). On the other hand, Unicredit decreased (–1%), after the CEO Federico Ghizzoni has announced a "fine tuning" of the 2013/18 business plan. "In light of the low rates and the economic scenario - she said - the targets appear optimistic at the moment". The asset management securities are in great evidence: Azimuth (+3%). Icbpi has set a target price of 30,5 euros.
Mediolanum scores +2,4%, Sale Saipem (+2,5%), Eni +0,1%. The best blue chip was Enel Green Power with an increase of 3,5%. Enel (-0,2%), Snam (+0,7%). Atlantia records a +2%, step back by Inwit (-0,49%) after the triumphant debut on Monday. Lastly, FCA (+1,23%) stands out on the eve of the launch of the new Alfa.
