The European price lists open the week with an interim session, moderately positive, but without Frankfurt, closed for the feast of Pentecost together with other squares in the north.
A good support comes in the afternoon from Wall Street, match in tune and currently in clear progress, dragged by the Nasdaq. Among the stars and stripes stocks it is appropriate to say that the space tourism company Virgin Galactic goes into orbit, earning more than 15% after successfully completing the flight test.
In Europe London it appreciates by 0,5%, as Amsterdam +0,5%; Paris +0,35%, while it is colorless Madrid.
Piazza Affari is one of the few red dots in this beautiful expanse of greenery and closes down 0,33% (24.891 points), due to the coupon detachment by as many as 18 blue chips which weighs on the list for 0,89%. Net of this ballast, the day's balance would therefore be positive. Banks are challenged, with speculative appeal keeping morale up Bper +4,29% and Bpm bank +1,65%, despite the former having paid a dividend of 0,04 euro per share.
It is confirmed on the shields Amplifon, +2,5% (in turn with a coupon of 0,22 euro). Well Post +1,74% and General Bank +1,64%. The detachment coupon instead penalizes Italgas -4,59%; Generali -4,3%; Unipol -3,25%; A2a -2,58%; Inwit -2,46%.
Out of the main list Juventus (+1,62%) is celebrating access to the next Champions League, after beating Bologna 4-1 and thanks to Napoli's home draw. Intesa Sanpaolo analysts positively evaluate the qualification obtained for next season's Champions League in which thanks to the vaccination campaign there could be a return of fans to the stands. "We estimate a contribution to the income statement of between 80-110 million", including TV rights and tickets, reads the report. Salt there too Roma (+6,32%) who will participate in the Conference League and, with the arrival of José Mourinho as coach, investors are betting on the next transfer campaign. Banca Ifis loses 1,77% after the acquisition for 1 euro of the assets of Aigis Banca.
The bond is stable: lo spread with the Bund stationed in the area of 110 basis points, while the yield of the ten-year BTP closes below 1 at 0,96%.
In anticipation of the next meeting of the ECB, on June 10, on which we are already starting to think, the central bank announces that it made Pepp purchases, last week, for 21,67 billion euros (against 18,96 billion a week ago) for a total of 1074,76 billion. As regards the quantitative easing programme, net purchases of government bonds were positive by 5,89 billion to 2.410,166 billion (from +6,72) while purchases of corporate bonds increased by 1,5 billion to 276,53 billion (+1,8). Purchases of covered bonds decreased by 0,332 billion (from +0,917) to 291,30 billion while those of ABS decreased by 0,2761 billion (from +0,188) to 28,478 billion.
Among the relevant European issues, it is worth mentioning the EU summit, which will start tonight and which is preparing to discuss the Belarusian case, after the "hijacking" of the flight Ryanair (-1,13% in London) decided by the authorities to arrest a journalist opposed to Prime Minister Alexander Lukashenko. The blitz also affected Belarusian dollar-denominated sovereign bonds, which plummeted.
Overseas government bond prices continue to rise, with declining yields, in continuity with the trend of the last eighth period and in a context in which investors seem more confident that the inflationary flare will be temporary. Attention remains high on this hot topic, after the sharp increase in consumer and producer prices and after the positive data on new requests for unemployment benefits, at its lowest since the beginning of the pandemic.
Today, however, the number of US domestic economic activity in April disappoints. In fact, the index of the Federal Reserve of Chicago drops from 1,71 (March data confirmed) to 0,24 points, against expectations at 1,1 points, remaining in any case expanding. The index which measures the average of the last three months falls from 0,35 to 0,07.
Il dollar once again manifests its contingent weakness. L'euro it appreciates by around 0,3% and trades above 1,22. The decline in the greenback invigorates commodities, especially the Petroleum, also encouraged by the slowdown in talks between the United States and Iran on nuclear power. Goldman Sachs, in a report, argues that Iranian crude would not change the fourth quarter price forecast. “Even with a potential restart of Iranian exports, the increase in oil prices remains intact due to the increase in global demand thanks to the anti-Covid vaccination campaign”. “Even assuming a July restart” of Iranian exports, “we estimate that Brent prices would reach $80 a barrel in the fourth quarter of 2021,” the US bank says, adding that if Iranian oil were to return to the market in October then $80 per barrel could be touched this summer. Brent crude rose 2,3% to 67,88 dollars a barrel. Breathe gold. Spot gold traded slightly down (-0,15%) to 1543,39 dollars an ounce.
It seems to awaken the bitcoin which, after another slide over the weekend, is now up 14% over $38, despite the fact that the distances from the famous cryptocurrency are multiplying. Latest in chronological order is that of Noel Quinn, managing director of HSBC, who exclusively revealed to the Reuters agency that he "is not interested in promoting this asset class within asset management activities".
