Milan rises thanks to the sprint of the banks ed it is the best in Europe +0,55%, apart from Lisbon which gains 0,8%. On the contrary, Paris -0,24% pays for the storm over Bnp Paribas which could have to pay up to 10 billion dollars in the dispute with the United States because it is accused of violating the sanctions against several countries including Iran, Sudan, Cuba Frankfurt closed flat and London was weak -0,39% on the heels of the mining sector.
Europe looks to Thursday's Eurotower meeting where Draghi should launch measures of Qe. In the meantime, today the ECB published a joint document with the Boe in which it outlines the various options for revitalizing the Abs market with a view to increasing loans to the private sector, in particular to SMEs. The document refers to better harmonization of rules, the definition of principles that improve transparency and more complete data. "The relaunch of the Abs - explain the ECB and the Boe - can play a useful role in ensuring that there is no new accumulation of risks, including those deriving from dependence on a single source of financing". Today in his annual report, the president of Bank of Italy, Ignazio Visco, confirmed that the acute phase of the crisis had been overcome but underlined the need to rapidly implement changes in economic policies both in Italy and in Europe to accelerate the pace of recovery and respond to the employment situation. The spread closed down at 165 basis points.
At the closure of Europe, Wall Street proceeds mixed around parity. The Dow Jones fell 0,14%, the Nasdaq 0,02% while the S&P500 rose 0,04%. The price lists are affected by unconvincing macro data. The data on consumer confidence surveyed by the University of Michigan was worse than expected: 81,9 points against 82,5 expected and 84,1 at the end of April. The Chicago PMI in May, on the other hand, rose to 65,5 points from the previous 63 points. Lower than expected, growth in American incomes improved by 0,3% against an estimated 0,4% while consumer spending fell by 0,1% against expectations of an increase of the same percentage. The euro traded against the dollar up 0,26% to 1,3638 while WTI oil dropped 0,79% to 102,76 dollars a barrel. Gold was down 0,85% to $1.244,83 an ounce.
In Piazza Affari run the banks that are not affected of Moody's intervention which cut the outlook of four Italian institutions to negative as part of a maxi cut on the prospects of 82 European banks following the review of the regulatory framework in relation to the banking crises by the EU. The purchases on the sector were favored by M&A expectations after the words of Visco who called for new integrations to recover efficiency and in the direction of greater separation between shareholder banks and foundations. The best stock of the Ftse Mib is Mps which jumps by more than 7%, Banco Popolare +3,89%, Bpm +3%, Mediobanca +2,4%, Ubi +2,43%. At the bottom of the Ftse Mib Saipem -1,3%, Eni -0,69%, Cnh -0,43%, Telecom Italia -0,33%.
