We will have to wait until Friday for the signature. But, with the usual exception of Wolfgang Schaeuble, everyone is convinced that this time the agreement to save Greece will take place. The agreement should leave out the cuts in pensions requested by the International Monetary Fund, Athens has agreed to raise the VAT in some sectors and will introduce new taxes on assets.
The markets, which have been much more optimistic than the media in recent days, are celebrating. Piazza Affari closed the best session of 2015 with a leap of 3,46% to 23.486. Paris and Frankfurt did even better, both above 3,8%, on a par with Madrid. London is up 1,7%. Athens even recovered 9%.
The euro strengthens against the dollar to 1,139 from 1,135 at the close.
Good rises also on Wall Street, the new Nasdaq record +0,7% stands out.
Strong appreciation of the BTP: the 17-year yield falls by 2,10 basis points to 8%. The spread with the German Bund, whose yield rises by 0,83 basis points to 121%, reaches 30 basis points, down XNUMX basis points compared to Friday evening.
Bank stocks were the driving force behind the lists, starting with Popolari. Lead the race Banca Popolare dell'Emilia Romagna +7,3%, the main beneficiary of the sale of Icpb. Follows the Banco Popolare +6,1% ea per wheel Mediobanca +6% (the time to leave Telecom Italia is approaching). Where's Banca + 5,5% Understanding +5%, as well as Monte Paschi and Unicredit + 5%.
Euphoria also in the insurance sector, driven by the recovery of BTP prices. Generals +4,1%, Mediolanum +6%, Azimuth +4,2%. In great evidence the other blue chips: Eni gained 4,8%, Saipem 6,3%. Well Telecom Italy +2%, driven by the subsidiary's boom InWit which debuted on the stock exchange up 11%.
StM +4,3%: this morning Barclays raised to Equalweight from Underweight. The target price was raised to 7,80 euros from 5,90 euros.
