Piazza Affari recovers 21.151 points e closes up 1,38%, with banks recovering and spreads declining. The tension on the Italian paper eased thanks to the reassurances of government officials on the debt, on the day of the Ecofin meeting in Brussels. The yield of the 10-year BTP falls to 2,69% and the differential with the Bund slips by 3,48% to 277.70 basis points.
The EU commissioner for economic affairs Pierre Moscovici recalls that "it is in Italy's interest to have a credible budget policy", while the governor Ignazio Visco warns: "A credible strategy to reduce the debt level in the medium term can no longer be postponed", in the light of the fact that the spread over 270 is more than double the beginning of 2018 and the high level of debt "exposes Italy to the volatility of the financial market". But the deputy premier Matteo Salvini goes straight on his way and promises to cancel all the European rules "that are massacring Italy" if the League obtains a positive result in the elections for the renewal of the Community Parliament on 26 May.
The other European lists also closed higher, starting off in the afternoon with the matching opening of Wall Street and the macroeconomic data released overseas. Frankfurt +1,76%; Paris +1,37%; Madrid +1,41%; London +0,81%; Zurich +1,91%. The lucky star shines in New York, where the percentage gains of the main indexes at the moment are greater than 1%.
In the US, worries about tariffs give way to confidence, thanks to new construction sites that grew, in April, beyond forecasts, unemployment benefits fell more than estimates and the Philadelphia area manufacturing index which reached its highs of four months. The dollar roars and moved to a one-week high against a basket of six currencies. The euro suffers, with the exchange rate falling to the 1,117 area. Sitting in big dusting for oil. Brent trades at 73,32 dollars a barrel, +2,16%; Wti 63,46 dollars, +2,32%.
Gold tarnishes and drops to around 1285 dollars an ounce. In Piazza Affari lThe blue chip that recorded the biggest increase is Amplifon, +4,76%. Telecom recovers, +3,68%. Leonardo, which presented an expression of interest for Piaggio Aerospace's engine and aircraft maintenance activities, gained 1,77%.
Between the banks the best performances are those of Ubi +4,27% and Banco Bpm +4,3%. Mps, +1%, while the prosecutor who conducted the investigation into the Sienese bank at the end of the indictment asked for 8-year prison sentences and a fine of 4 million euros each for the former president of Monte Paschi Giuseppe Mussari and for former general manager Antonio Vigni; 6 years and 1,5 million for the former finance manager Gianluca Baldassarri. The prosecutor also asked for the confiscation of 441 million euros from Deutsche Bank (headquarters, while for the London office he asked for acquittal) and 445 million euros for Nomura, considered the proceeds of the crime. Among energy Tenaris gains 3,66%; Saipem +2,99%.
There are only two titles in the red on the Ftse Mib: Moncler -1,2% and Pirelli -1,2%. Outside the main basket Ternienergia goes into orbit (+20,71%) with the sale of 22 photovoltaic plants.
