Accelerates the euro area economy further, thus neutralizing the dismay caused by theManchester bombing. Milan the Ftse Mib index rose by a generous half point, around 21.400. In slightly positive ground too London (+0,12%). Better Paris (+ 0,6%) and Madrid (+ 0,8%). Frankfurt +0,3%. In the European Stock Exchanges the strongest rises are of the titles Technology (European Stoxx of the sector +1,2%), Automotive (+ 1%) and banks (+0,9%). Down i oil (-0,2%).
The activities of the euro area in May it maintained the strong growth of the previous month. There preliminary reading of the PMI composite index on the purchases of company directors by IHS Markit was stable this month at 56,8 in April, the highest since April 2011.
Meanwhile theIfo index, which measures business confidence in Germany, it rose in May to a record high since 1991 and well beyond forecasts: 114,6 points from 113 in April. According to chief economist Clemens Fuest this data paves the way for a 0,6% increase in GDP in the second quarter in Germany. Even the economic situation in France, said Chris Williamson of Markit, appears "encouraging".
Dollar still down on theeuro, which rises to 1,125 (1,123 at last night's close).
Slightly declining rates for Italian government bonds: the yield of the 10-year BTP dropped this morning to 2,10% from 2,13% yesterday, the Bund is trading at 0,41%. The spread drops to 168 basis points (-4 basis points), the lowest since the end of January.
Donald Trump holds back the recovery of Petroleum two days before the OPEC summit in Vienna on production cuts. The White House plans to sell half of the 688 million barrels in storage between 2018 and 2027 to raise $16,5 billion and help balance the budget.
After four consecutive days on the rise, Brent in London dropped 0,98% to 53,34 dollars a barrel, while WTI lost 0,88% to 50,68 dollars. Eni is unchanged, Saipem + 0,2% Tenaris -0,5%.
Retrieve in Piazza Affari Fiat Chrysler (+2,3%), they go up Leonardo (+ 0,6%), Brembo (+ 1,1%) and Prysmian (+ 1,5%). Exor earns 2%.
Tech's rally is led by Nokia which rises 7% after announcing the agreement that ends a legal dispute with Apple. The Finnish company had accused the Cupertino giant of using its patented technologies in the iPhone. Apple has agreed to pay for the use of these technologies.
stm, supplier of Apple and Nokia, rose by 0,1%. Barclays promotion pushes upwards Bpm bank (+3,7%), raised to Overweight from Equal Weight. Unicredit salt of 1,2%, Understanding + 0,6% Ubi + 2,5%.
Slow insurance: Generali earn 0,5%, UnipolSai +0,7%. Telecom Italia gains 0,6%, good increase by Mediaset (+1,6%). Little moves Enel (+0,3%) and other utilities.
