Positive rebound for the European stock exchanges, also refreshed by Wall Street's opening bell and the initial backlash of technology stocks starting with Apple. Piazza Affari closed fractionally higher, +0,85%, 21.088 points, after reaching peaks of more than 1% during the day. The banking sector is tonic, in particular UBI +3,44%, while the specter of a bail-in for Veneto banks is receding. The purchases also reward Luxottica, +3,13 and FCA, +2,41%.
Another brilliant session for bonds: the Italian 1,98-year yield falls to 171.10%, the lowest since the end of January and the differential with the German counterpart stops at 3,17 basis points (-XNUMX%).
The other continental lists rose, with the exception of London, down by 0,15%, while the pound recovered and inflation in May grew by 0,3% on a monthly basis and by 2,9% on an annual basis . Surprisingly, the German Finance Minister, Wolfgang Schaeuble, declares that the United Kingdom would be welcome if it decides to return to the EU, but in the meantime Brussels wants to give itself the power to move euro clearing activities from London after Brexit, adopting a model of supervision along the lines of that of the United States.
Frankfurt +0,59%, Paris +0,4% and Madrid +0,4 were positive. Effervescent Athens +1,72%, although the island of Lesvos was hit by an earthquake that killed at least one person and left about 800 inhabitants homeless.
Wall Street, mid-session, maintains a good intonation, awaiting the conclusions of the Fed meeting, which began today and will end tomorrow. A further rate hike of 0,25 seems to be taken for granted, while questions are being raised about the next path of the central bank, in the light of contradictory macro data. The euro-dollar ratio was stable, in the 1,2 area. Oil was down modestly after OPEC's monthly report showed overall production rising in May. Brent fell by 0,31%, to 48,14 dollars a barrel.
Luxottica stands out among the big names in Piazza Affari, thanks to the rating of Morgan Stanley, which promoted the company from 'equal weight' to 'overweight' with a target price increased from 50 to 65 euros. Good for Fiat, with Goldman Sachs confirming the stock in its "Conviction List Buy".
Among the banks, in addition to Ubi, Bper +2,51% and Unicredit +1,63% closed a brilliant session. Fractional growth for Intesa, +0,47%, while the daily updates from Consob show that Goldman Sachs has practically zeroed its stake in the company. Financials were positive with Finecobank +1,63%. Money on Generali +1,97% and Unipol +2,35%.
Purchases for Buzzi shares +2,38%; Mediaset +1,04%; Recordati +1,62% and Prysmian +1,86%. The latter has inaugurated an important plant in Romania, to respond to the growing demand for optical cables for the development of new high-speed telecommunications networks. Well-comparable Atlantia, +1,21%, with Marco Patuano, CEO of Edizione, the safe house of the Benetton family, who says: "The price of the takeover bid for Abertis is absolutely right" and a world champion will be born from the merger between the two companies of the infrastructures.
Among the oil companies, Tenaris shines +1,37%. The charm of Ynap +2,23% and Moncler +1,36% is back in fashion. Stm recovers, +1,15% after yesterday's heavy crash. Sales hit Snam, -0,91%. Profit taking on Saipem -0,99%; Campari falls -0,81%. Outside the main basket Dmail Group sparks, +22,98%, after having announced from the positive quarterly reports. Ovs is also picking up, +6,47, supported by rumors of Italmobiliare's interest in the Veneto clothing chain.
