Banks and oil stocks ballast Business Square, which closed the first session of the week down by 1,11%, at 25.227 points, in a weak European context, with many tourism stocks knocked out. What is scary again is the coronavirus, in its Delta variant which spreads rapidly in Asia and other areas of the world, overcoming the barrier of the first dose of vaccines.
Frankfurt loses 0,34%, Amsterdam limits the damage to 0,4%, while the balance is heavier London -0,85% Paris -0,99% and above Madrid -1,97%. Red is on for Tui (-4,67%) ed Easyjet (-5,8%) in London, while in the Spanish capital it sinks icag (-6,19%), parent company of British Airways, Aena and Melia Hotels. Also in Milan, at the end of the Ftse All Share there are Sostravel (-3,64%), trawell (-4,15%), Sardinia portal (-6,31%).
In the final part of the session, the mixed start of Wall Street, which remains in any case in the record area with lo S & P500. We appreciate the nasdaq, while the Dow Jones it dropped about half a percentage point, with investors looking to developments in the $579 billion bipartisan infrastructure plan, which President Joe Biden is expected to sign even without an agreement on other priorities, such as tax reform and the fight against climate change. Biden will leave Wisconsin tomorrow on a tour aimed at promoting the infrastructure agreement, seeking strong public support for even the most progressive reforms. However, the most awaited event of this eighth week is the employment report scheduled for Friday, after the increase in inflation of 3,4% on an annual basis, in May, at the fastest pace since April 1992, weighed on government bond prices. Today the yields of T Bond they go down and the prices go up. The 1,5-year rate trades below 1,487%, at 3% (down by more than XNUMX%),
The closure is also positive for the Italian secondary: lo spread between ten-year BTPs and Bunds it drops to 111 basis points (-1,36%) and the rate of the Italian benchmark stops at +0,88%.
Meanwhile, on the primary, the yield of Semi-annual bots marks an all-time low of -0,521% retouching the previous low of -0,520% recorded last December. The Treasury has fully assigned the amount offered, equal to 6,5 billion six-month BOTs, maturing on 31/12/2021, against a request for over 8,7 billion, for a coverage ratio of 1,35. XNUMX.
Over the course of the last week, the ECB brought its net purchases under the Pepp program to 24,31 billion (against 19,36 billion a week ago) reaching 1.169,94 billion. As regards the quantitative easing programme, net purchases of government bonds were positive by 7,61 billion (from +6 billion) to 2.422,41 billion, while purchases of corporate bonds amounted to 0,174 billion (from +2,73 billion) to 281,967 billion. Finally, in the period, purchases of covered bonds amounted to 163 million (from 587) to 292,132 billion, while those of ABS were negative by 363 million (from -134) to 28,13 billion.
On the foreign exchange market the dollar consolidates the levels achieved, while recovering ground GBP which is close to archiving the worst monthly performance since September. The arrival of Sajid Javid, former finance minister and new head of health, gives hope, who seems willing to anticipate the reopening of activities, after the postponement decided due to the spread of the Indian variant (or Delta, as the WHO has decided to call it ).
THEeuro-dollar appears flat, in area 1,934.
Cryptocurrencies remain in the spotlight after the stop imposed by the British financial authorities on the Binance trading platform, with the imposition of stringent requirements. For the FT, the intervention of the Financial Conduct Authority demonstrates that the authorities keep the cryptocurrency industry under control for fear that they could be used for illegal activities. The Bitcoin deals just under 35 thousand dollars.
Between the raw material sales hit oil: September 2021 Brent futures lose about 1,2%, 74,5 dollars a barrel. Black gold hit a two-and-a-half-year high this morning but then began to retreat on news of a spike in coronavirus infections in Asia and ahead of this week's OPEC+ meeting.
In Piazza Affari, oil stocks are among the worst in the main list: Tenaris -3,31%; Saipem -2,65%; Eni -2,03%.
Bad banks: Bper -3,18%; Unicredit -3,09%; Banca Mediolanum -3,05%; Bpm bank -2,82%. The latter is tinged with red, despite having modified the agreements with the French insurance group Covea, in order to keep their hands free in the event of future aggregations. Below Understanding -2,35% and Mediobanca -1,02%.
Atlantia sells 2,28%, on the day in which it announces that its subsidiary, Autostrade Portugal, has signed the contract for the sale to MM Capital Partners of the entire stake held in the Portuguese concessionaire Lusoponte, which manages two river crossing bridges Tagus in Lisbon. The consideration for the transaction is 55,7 million euro. A potential earn-out mechanism of up to a maximum of 5 million euro is also envisaged, linked to the occurrence of certain conditions.
At the top of the list, with fractional increases, there are Terna + 0,83% Ferrari + 0,68% Diasorin + 0,58% stm +0,47%,.
Out of the main basket, the debut on the farmyard is mind-boggling Better this, + 67,82%.
Instead, it closes down Ferragamo, -2,67%, after initially celebrating the news of the arrival of Marco Gobbetti as general manager and managing director. Gobbetti, current CEO of Burberry (-9,05% in London), boasts a long professional career in the luxury and fashion sector, where he held the position of CEO of Moschino before joining the Lvmh group, within the which he remained 13 years holding the role of CEO of Givenchy and Celine. Gobbetti will assume the position as soon as he is free from his contractual obligations with the English group. An extraordinary board of directors of Salvatore Ferragamo was convened next Thursday for the fulfilments connected with the appointment.
