Stellar Fiat (+6,51), banks in good shape and oil companies in great recovery: Milan once again crosses the threshold of 21 points, in a day of purchases on all markets, with the European stock exchanges consolidating their gains after the matching opening of Wall Street.
Piazza Affari closes up 2,08%, 21.013 basis points, best in Europe, ahead of Madrid +1,49%, Paris +1,47%, Frankfurt +1,22% and London +0,88%. The wave of purchases is supported by a series of positive macro data, car registrations in June (even in the USA the drop is less than expected) and oil, which is consolidating its recovery. Brent is back in the $50/barrel area: $49,43, +1,35%.
New York price lists, at the moment, travel in contrast, with the Nasdaq below parity and technological stocks in the red, in a semi-holiday session (the stock exchange closes at 19 pm Italian time), on the eve of July 4, Independence Day. However, the Dow reached an all-time high, with growth around 1%, led by bankers, such as Goldman Sachs, Bank of America and JPMorgan.
The euro loses 0,53% against the dollar, 1,136. Gold fell by 1,6% to 1221.685 dollars an ounce, penalized by the recovery of the greenback and by the prospect of a rate hike. In bonds, the spread between Italian and German ten-year bonds improved: -1,48%, 166.00 points; yield 2,14%.
In Piazza Affari, banks, cars and oil companies shine.
The best titles are Bper, 6,46%, after the purchase of Nuova Carife for one euro. Among the banks also close in rallies Ubi, +3,98%, Unicredit +3,85% and Intesa +2,67%. The market rewards the choices of Unipol, +5,31%, which on Friday announced a reorganization in both the insurance and banking sectors and the creation of an internal bad bank, obtaining the applause of various analysts. In cash Buzzi Unicem +3,95%. Well Cnh, + 2,87%, which received the positive opinion of Goldman Sachs, with the confirmation of the title in the Conviction Buy List.
Purchases reward oil companies: Eni +1,22%, Tenaris +3,08% and Saipem 3,09%; the latter was awarded a 500 million dollar order by Saudi Aramco.
At the bottom of the list we find Recordati, -2,03%, which does not benefit from the formalization of the agreement with Astrazeneca on the European rights of metoprolol, a drug used in cardiovascular diseases. "Today's performance seems to have to do with a rotation of portfolios and a greater focus on industry and the oil sector, while there does not seem to be any effects relating to the contract with Astrazeneca already announced in May" comments with Market Insight a analyst, specialized in pharmaceuticals.
In fractional decrease Mediaset -0,64%, Brembo -0,47% and A2a -0,47. Postal service floats +0,17%. Atlantia collects 0,49%, while the go-ahead from the Spanish Consob arrives for the prospectus of the offer for Abertis.
Outside the main list, Banca Carige stops at +3,89%. According to Radiocor Plus, the board of directors will today dismiss a maneuver worth at least 700 million including a capital increase of up to 500 million and a sale of assets that aims to achieve at least 200 million. The recapitalization is therefore higher than the 450 million announced in the February plan, while the sales concern real estate assets, the consumer credit subsidiary Creditis and the NPL management platform. The shareholders' meeting for the resolution on the increase will be convened at a forthcoming meeting of the board of directors.
