The stock markets close the week and the month of June in negative territory. Piazza Affari is in line with the other European price lists, which today all lose more than half a percentage point: Milan is the least worst with -0,58% at 20.584,23 points, Frankfurt -0,72%, Madrid -0,86 %, London -0,63%, Paris -0,7%. The European Stoxx index for the month is therefore down, after four consecutive months of earnings. The comments of central bankers, starting with Mario Draghi, in recent days have increased government bond yields and the value of the euro, causing sales on the stock market.
Today the European currency took a breather compared to the record strengthening of the last few days: at the close of the markets it was down very slightly against the US dollar to 1.140435, after having touched 1.144 at the opening of the session this morning. Oil rises again: Brent gains 0,67% to 47,74 dollars, while WTI gains almost 1% above 45 dollars. meanwhile, for the second consecutive month, the big banks cut their forecasts on the trend in oil prices, a sign that the sub-fund's turbulence is not destined to ease in the short term.
Wall Street starts its session well, even if this is not enough to drag the European lists: Frankfurt suffers in particular, thanks to the thud of Bayer after the earnings alarm of the German chemical group. In the USA, on the other hand, the indices recorded a slight increase, but which should be enough to archive the best semester since time immemorial: the Nasdaq in particular is pulling off the best first semester since 2003 with an increase of about 14%, while the Dow Jones and the S&P 500 gained about 8% in the same period.
On the secondary market the Btp Bund spread fell to around 168 basis points, with the yield of the ten-year BTP, however, rising further to 2,16%, bringing the 2,17% reached at the opening of the session closer. The rate on the German Bund with the same duration also rose, to 0,46%.
In Milan, Unipol stands out, which is the best stock in the Ftse Mib for the whole day and which closes with +2,67%, and then industrial stocks such as Brembo, Prysmian and Cnh Industrial. However, FCA is still weak (-1,23%). On the other hand, Italgas performed well +1,24%, thanks to a positive opinion from Citigroup: the American bank has raised the title to Buy, increasing its Target Price to 5,3 euros, in view of a possible consolidation of the sector in Italy and Europe. According to analysts, the stock does not yet incorporate the potential benefits of M&A opportunities.
On the banking front, Ubi Banca is among the worst stocks in the main basket, with a loss of 2,69% after the closure of the offer of the unopted share capital increase already on the first day of the offer. In general, banks are not doing well, with losses on average equal to or higher than those of the Ftse Mib. Banca Mediolanum is barely saved, against the trend with +0,21%. Among the worst stocks also Unipolsai, which lost almost 4%, Banca Generali and Finecobank. Out of the main list, Molmed goes up after the agreement for the distribution of an anticancer drug in Asia.
