Banks are ballast even today Business Square (-0,86%, 19.758 points) which closed a volatile session down, in an uncertain global context, ahead of Jerome Powell's indications, today, at the end of the two days of the Federal Reserve.
In Europe they close in the red Frankfurt -0,65%; Paris -0,82%; Madrid -1,15%. Better London -0,18% after the crash on the eve. Wall Street, after a bullish start it is trading mixed. The Nasdaq continues to amaze and move upwards, however, after losing the record threshold of 10 thousand points. Tesla (+7,5%) hits a new all-time high, exceeding $1.000 for the first time, after the CEO of the electric vehicle maker, Elon Musk, said the time has come to start 'mass production' of electric trucks. Meanwhile, the race for vaccines against Covid continues: too Johnson & Johnson (+1,5%) announced that it will start human trials in the second half of July, two months ahead of schedule.
The global economic crisis is holding back purchases, which could worsen dramatically according to the OECD in the event of a second wave of coronavirus infections. The decline in the Petroleum, although the mood paradoxically improves after the surprise jump in US weekly inventories. Texan crude currently loses 0,5% and moves around $38,70 a barrel. Brent, -0,4%, 41 dollars a barrel.
However, the most interesting news of the day will come later, when the Fed lifts the veil on rates, economic forecasts and possible measures to control T-Bond rates. An eventuality, the latter, which frightens the dollar. while waiting theeuro it remains well matched against the greenback and the exchange rate moves in the 1,35 area. Gold is positive, around 17023 dollars an ounce.
Risk aversion penalizes Italian paper, in a context of abandoned offers of government bonds. The spread between Italian and German ten-year bonds, it rises by 4,33% to 184 basis points and the BTP yield reaches 1,5%.
However, good news comes from the European front for the Recovery Fund, on the eve of the Eurogroup meeting. Denmark has a partial rethink: "Our task is not to veto, but to find a solution - says Prime Minister Mette Frederiksen - the government is in favor of the fund to help the countries most affected" by the pandemic. "We must remain united in the EU and this is the government's starting point for these negotiations". Although: ”I am a fervent supporter of European cooperation but I am also a frugal Northerner and I think it is right to pay one's debts alone”.
In Piazza Affari, sales are still falling on the banking sector, put under pressure by the risk of not being able to distribute dividends this year and by the Antitrust's stop to the Intesa-Ubi operation by the Antitrust. Bper leaves 5,03% in the field. Reuters writes that, according to press rumors, Understanding (-1,01%) could transfer a further 100 branches to Bper at substantially the same price, compared to the 400-500 envisaged, to facilitate the Antitrust's go-ahead for its offer on Ub (-1,12%)i. A trader notes that this could lead to a greater outlay by Bper than estimated to date "
Unicredit -3,31%. On the industrial front, shares are down Cnh -5,27%, after yesterday's leap; fca -2,7% on the fears that emerged yesterday on the EU Antitrust front regarding the merger with Psa for the van sector.; consequentially Exor -2,81%. Going against the trend in the group Ferrari + 0,75%.
Oil stocks sink with Saipem -2,5%.
On the other hand, the purchases are back Moncler +3,63%. Asset management is highlighted with Finecobank +3,5%. They still recover nexi +1,61% and Diasorin +1,55%. Progress for Telecom, +0,81%, which according to some sources would be close to an agreement with a consortium of funds headed by Ardian which will acquire a minority stake in the holding into which the former monopolist will transfer its stake in Inwit (+ 2,2%).
Snam, +0,47% after the double acquisition in energy efficiency.
