The rebound of the banks drives Piazza Affari which rises by 4,08% and detaches all the other main European markets. The Bank of Italy is in favor of aun public intervention for Italian banks in the current tense situation on the markets. Governor Ignazio Visco said it at the end of his speech at the Abi meeting: "It is expected that other joint initiatives will take place in the short term".
Strong recovery Banco Popolare +18,36% after the bank said its internal stress tests beat even worst-case scenarios. Bper +16,19%, Unipol +12,78%, Intesa Sanpaolo +10% after CEO Carlo Messina stated that the bank will pass the stress test, Unipolsai +9,76%. Mps +5,47% which is preparing to get rid of at least 10 billion euro of non-performing loans, a flash operation to be closed within a couple of weeks. Unicredit +8,73% in the wake of positive expectations of a rapid solution to the serious problem of doubtful credit which should see massive public intervention. There are no stocks in negative territory on the Ftse Mib.
The Btp-bund spread closed down at 136 basis points (-3,75%) and a yield of 1,19%. The main European markets are also doing well: Paris +1,77%, London +0,87% and Frankfurt +2,24%. Brent oil also rose +0,39% to 46,58 dollars a barrel, Wti +0,35% to 45,3 dollars a barrel. The euro-dollar exchange rate stood at 1,10403, down 0,20% with the greenback taking the upward path while gold fell: -0,49% to 1353,65 dollars an ounce.
A Wall Street indexes are up: Dow Jones +1,15% and S&P500 +1,27%. Overseas price lists are supported by data on the labor market: 287 jobs were created in June, a strong recovery from 38 in May and well above the expected consensus of 180. However, the unemployment rate rose from 4,7% to 4,9%, slightly above expectations at 4,8%.
Outside the Ftse Mib Rcs +0,83% is prudent awaiting the night-time epilogue of the battle between Urbano Cairo and the consortium made up of Andrea Bonomi and four other members (Imh). The two contenders will now have to send their latest bids to Consob. By the midnight deadline, the two companies will have to communicate the details of their offer to the markets. In the coming week, the two bids will gather adhesions by Friday 15th and the final data will be known on Monday 18th July. The knot remains that of a possible draw.
