Piazza Affari rises again, thanks to the extension of the banks, after the start in the red. The Ftse Mib index is now unchanged, just above 21 thousand points. Madrid also rose +0,06%. The other price lists are in slightly negative territory: Paris and Frankfurt -0,3%. London – 0,07%.
Positive news for the Italian economy arrived this morning. Manufacturing business confidence rises in June to 107,3 from 106,9 in May, better than the estimates fixed at 106,7. Consumer confidence grows to 106,4 from 105,4 in May, against estimates of 105,8.
Mario Draghi, inaugurating the ECB meeting in Portugal, he said: “All signs now point to a consolidation and broadening of the recovery in the euro area. Deflationary forces have been replaced by reflationary ones. Even if there are still factors that are weighing on the path of inflation, they are still mainly temporary,” she specified. However, "a considerable degree of monetary accommodation is still needed for the dynamics" of the consumer price index "to become durable and self-sufficient". After Draghi's words, the euro-dollar cross rose to 1,124 from 1,118.
Janet Yellen will speak at the London Royal Academy in the afternoon. Waiting on Wall Street for the Alphabet title: The European Commission has fined Google a record €2,42 billion for abusing its dominant position in online search to boost its shopping services.
The rise of the euro is accompanied by a fall in bond prices. The ten-year BTP yield rose to 1,93% from 1,87% in early morning trading. The Bund is back 0,28% from 0,24% this morning. Spread unchanged at 164 basis points.
This morning The Treasury placed this morning in auction of 2,5 billion euro in two-year CTZ zero coupon bonds (zero coupon certificates) offering a negative interest rate of -0,167%. The Btpei are also down. Germany placed 3,172 billion Schatz at a yield of -0,61%. The yield on the 5,30-year Greek bond, 2009%, falls to its lowest level since XNUMX after the promotion by Moody's.
Oil accelerates up 1,2% with Brent at 46,4 dollars a barrel. Opposed the oil companies. Eni -0,2%, Saipem +0,1%, Tenaris +0,3%. The comeback of the banks continues in Piazza Affari. Intesa is still leading the race +1,8%: JP Morgan raised the target price to 3,4 euro from 3,2 euro, confirmed the Overweight opinion.
Ubi advances +2,6%: Kepler Cheuvreux confirms the Buy judgment and the target price of 3,9 euros. Unicredit +1,3%, Bper Banca +0,9%: Unipol has received from Bankitalia the authorization to exceed the threshold of 10% of the capital. TOthe insurance group currently holds 9,9%. Bank Bpm -0,2%. Banca Intermobiliare rises by 6%.
Good news also from Spanish banks. Bankia is on the rise +4,5% after the purchase of BMN, an agreement worth around 900 million euros and a further step towards the recovery of the Iberian banking sector.
The European car sector loses 1,2% (but fell -1,7% during the session) after German auto parts maker Schaeffler sharply cut profit estimates amid mounting price pressure and high costs. Schaeffler loses more than 10%, while its counterpart Continental drops by 2,3%. In Piazza Affari, Brembo -1,1%, Fiat Chrysler -0,7% is down. Sogefi -3%.
Weak luxury stocks: Luxottica -0,8%: Hammer Partners cut the judgment to Neutral from Buy and the target price to 58,2 euros from 59,6 euros. Moncler -0,7% and Ferragamo -0,6% are down.
Yoox is back on the rise, posting a 1,7% gain after yesterday's 8% jump. For now, there are no official comments on the rumors that the company is negotiating a deal with Alibaba, the Chinese e-commerce giant. in the rest of the list:
– Stm stands out, with an increase of 1,3%: the US broker Stifel has upgraded the opinion to Buy, with a target of 16 euros.
– Diasorin -2,7%, after the presentation of the business plan.
– Enel -0,7%, Telecom Italia -0,1%.
– Cnh Industrial -0,7%, Buzzi -0,7% and Recordati -1,5% also fell.
