The Exchange of Milano accelerates: index gains 0,5% ahead of Madrid (+ 0,3%). The meeting in the morning between Pd and 5 Stars has been cancelled, postponed to tomorrow morning. The other European stock markets are down slightly: Paris -0,3% Frankfurt -0,2% immediately after the publication of the final data for the second quarter on Germany's GDP. According to statistics office data, it fell 0,1%, in the final estimate, due to a 1,3% drop in exports. The bund trade at -0,67%, -1 basis point. In the meantime, the public budget records a surplus of 48 billion euros.
The Btp/Bund spread it fell to 189 points. The BTP it appreciates at 1,22%, -9 basis points, a new low since October 2016. A happy start for the three days of Treasury placements: the ministry placed the entire expected amount of Ctz 2021, or 2 billion, with a yield of 0,008%, a sharp drop from the previous 0,041% and a demand that reached 3 billion. Tomorrow it's up to the Bots, Thursday to the BTPs.
The euro it goes back to 1,111 against the dollar (+0,1%). According to Crédit Suisse, the dynamics of interest rates, US economic growth and the political uncertainties in the EU support the prospects for strengthening of the greenback in the short term: in three months, the Swiss bank sees the single currency at 1,08.
Their it is up 0,5%, at 1.534 dollars an ounce.
Il Petroleum Brent is trading at $58.70 a barrel. At the top of Piazza Affari there is Saipem (+2,5%), driven by industry news. French petroleum engineering firm Technip has announced a plan to separate into two independent, listed companies. In the case of Saipem, the focus remains on a possible sale/alliance in the Drilling segment, with the two E&C divisions Offshore and Onshore remaining the main ones. They also go up Eni (+ 0,8%), Enel (+ 1%) and Snam (+ 1%).
Spread decline supports bank stocks: Unicredit + 1,5% Bpm bank +2% and Where's Banca + 1,7%.
Well the industrialists: Fiat Chrysler + 0,7% Pirelli + 1,3% Prysmian +1,3%. The luxury also rises: Moncler + 1% Ferragamo +1,3%. Weak Atlantia (-1,4%).
