Thanks to the arrangements of the fund portfolios in view of the halfway point of the year, the Bags have found their smile again. On Friday Wall Street experienced the best session in the last two years in the wake of the recovery of value stocks. But all eleven sectors have risen, better than all the others that of travel and cruise companies. The data on bookings for the last two quarters are exceptional: numbers that have not been seen since before the pandemic. Same script in Europe, where private public companies and airports, too cautious in estimates, have been taken by surprise by the boom.
Technology boom in Hong Kong +5,8%
Friday's Wall Street rally is inspiring Asian Pacific stock exchanges, Hang Seng Tech's Hong Kong gains 5,8%, while the Hang Seng marks a rise of 3%. Nikkei of Tokyo +1,4%. CSI 300 of the price lists Shanghai e Shenzen +1,2%. Kospi of Alone +2%. Bse Sensex of Mumbai + 1,3%.
The future anticipates a rise in the index Euro Stoxx 50 0,7%.
Tonight's Gala of the ECB: is the anti-spread plan coming?
It will be a week full of events of great importance: the G7 summit began in Bavaria last night and opens tonight in Sintra (Portugal) the conference on monetary policy organized by ECB. Christine Lagarde, president of the European Central Bank, is not only the host but also the most eagerly awaited protagonist of the summit among central bankers. The markets expect it to finally see the light between today and tomorrow the anti-spread shield developed in Frankfurt amid much controversy, pending the next rate hike.
Spotlight also on Jerome Powell, which has already reaffirmed before Congress its decision to proceed with new robust rate increases starting from July, without being pityed by the bad economic situation on the stock exchanges.
Today the accounts of Nike, T Bond at 3,15%
We still have to wait a couple of weeks for the quarterly season, but interesting indications should arrive in the next few days from companies whose fiscal year does not coincide with the calendar year: today, for example, the quarterly Nike. Tomorrow FedEx e HP Enterprise they hold their investors day.
Il Treasury Notes ten-year bond as a result of Friday's decline it returned to a yield of 3,15%. Real rates are around the lows of the last three weeks, at 0,55%, about twenty-five basis points less than the peak of 0,80% reached at the end of May.
Il XNUMX-year BTP starts again from 2,41% yield.
THEeuro it is little moved at 1,056. The Turkish lira rose sharply, after a series of government measures concerning subjects who intermediate the currency.
Saipem, the high voltage increase starts
In Piazza Affari it kicks off today the capital increase of Saipem. The company will offer 1.974.327.430 new ordinary shares in the ratio of 95 for each ordinary or savings share held, at the subscription price of €1,013 per share. The operation will end on July 11, 2022.
The G7 votes on new sanctions on Moscow: oil and gold in the sights
Not only Sintra. The destinies of the financial markets are also at stake G7 in Germany dedicated to the new ones sanctions against Russia. The US managed to push the line of a new one squeeze on oil and to trigger the gold embargo of Moscow, from today officially in default due to the impossibility of paying the maturing bonds. Mario Draghi re-proposed, with French support, the theme of ceiling on the price of gas, already postponed to October in the EU headquarters.
Friday the OPEC+ summit will evaluate the crude oil supply policies of the major producing countries. The G7 has also approved the take-off of an investment plan for emerging countries as an alternative to Chinese projects: the first interventions of the fund, endowed with 600 billion, will concern India, Indonesia and Vietnam.
Moscow in technical default
Following the grace period, it went off tonight Russia's default on two bonds of one hundred million euros. The coupon was not paid following the wide-ranging sanctions imposed on the Kremlin in response to the invasion of Ukraine. The event actually has a more symbolic value than anything else.
Inflation and PMI indices in Europe, today the Italian confidence
From mid-week, on the other hand, real economic data will begin to flow, with inflation of the month of June in many member countries: from Wednesday Spain and Germany, Thursday France, Friday Italy and the Eurozone.
