European stock markets slow down after a lively start. TO Business Square however, the Ftse Mib index rose by 0,3%, just under 21 thousand points. Paris is up by 0,7%, is slowing down Frankfurt (+0,3%) equal to Madrid. London earn 0,7%.
Eurostat this morning published data on theinflation in the Eurozone, confirming the slowdown in prices. Indeed, in May, the average growth in consumer prices slowed down to 1,4% on an annual basis from 1,9% in April. On a monthly basis, inflation fell by 0,1%, as expected; the data are similar to those of the preliminary estimate.
The effects of the agreement are being felt on the market Greece. Yesterday evening the finance ministers of the European Community resolved to grant Greece an 8,5 billion euro loan, resources that Athens will use to pay other maturing loans, disbursed by the European Central Bank. Ministers opened the door for Greek debt relief to be considered next year, following the end of the €86 billion support program in force today. The ECB will not include Greek government bonds in the quantitative easing buyback program, but has said it is willing to do so under certain conditions. Athens' two-year bond fell by 30 basis points to 4,4%, its lowest since 2010. Greek 20-year bond yields also fell by 5,4 basis points to 2014%, the lowest since XNUMX.
Slight upside for the BTP, trading at a yield of 1,97%, with a spread at 166 basis points. The German 0,3-year bond returned to XNUMX%.
Petroleum an increase compared to yesterday's closing: Brent at 47,34 dollars a barrel (+0,9%). Little move Eni (+0,07%). This morning JP Morgan reduced the target price to 13 euros from 13,50 euros, confirming the Underweight recommendation.
Positive day for the Exor team. Stands out Cnh Industrial, up 3,4% after the promotion of S&P, which raised the rating to an "investment grade" level. Fiat Chrysler it deflates on parity despite the coupons data on car sales in Europe in May (+11,9%). “The second quarter is in line with expectations. The targets for 2017 are confirmed”, Sergio Marchionne said this morning. When asked if the investigations underway into FCA's diesel emissions in the US could have an impact on the accounts, Marchionne replied: "As far as I know, no", and also confirmed the objectives of the industrial plan for 2018. evidence Ferrari with a gain of 2,7%.
The slowdown in Piazza Affari is due to banks slowing down after a strong start: Unicredit -0,2% Understanding -0,6% Bpm bank -0,4%. Well Ubi (+ 0,8%).
“I confirm that we are working hard and fruitfully with the European institutions. I am confident that a positive solution will be reached shortly,” said Economy Minister Pier Carlo Padoan at the end of Ecofin in Luxembourg. Today the council of ministers will examine an emergency intervention to suspend the payment of the subordinated bond of Veneto Banca expiring on 21 June.
