The European stock exchanges are in balance after a negative start. TO Milan the Ftse Mib index it marks a drop of 1,2% around 21,300 but we must take into account the impressive amount of dividends that are detached today and which have an overall weight on the index equal to 1,55% (about 330 points). Paris unchanged, decreases contained at 0,3% for Frankfurt and Madrid (the victory in the Socialist Congress of Pedro Sanchez brings the recourse to early elections closer). London +0,37%.
In the European lists stands out Clariant +10% after the merger with the American Huntsman which created a chemical giant with a market value of 14 billion dollars.
Good news for Italy from the EU Commission. The prevailed soft line on the correction of accounts to be put in the pipeline for 2018. There will be no infringement procedure because, says the official note, "there is no basis for carrying out a procedure for imbalances, provided there is full implementation of the reforms". However, the EU Commission is calling for the reintroduction of the tax on first homes for high incomes. This is the content of the "specific recommendations for the country" released this morning by the EU Commission. For Italy, promoted with reservations together with Cyprus and Portugal, urgent initiatives are needed to limit "public debt imbalances" to which must be added "the slow growth of productivity, the loss of competitiveness, the balance sheet situation of the banking sector due to the weight of non-performing loans”.
Meanwhile France and Germany they “agreed to establish a working group for the strengthening of the Eurozone” starting in July. This was announced by German Finance Minister Wolfgang Schaeuble, at the end of the meeting in Berlin with his new French counterpart, Economy Minister Bruno Le Maire.
In the meantime, Istat has revised upwards for 2017 an increase in gross domestic product (GDP) from 0,9% to 1,0% in real terms.
Il exchange euro Dollar it is down slightly to 1,116 from 1,120 at Friday night's close. The Dollar scored the worst week of the year (-2,5%).
The yield of ten-year BTP is at 2,11%, unchanged from Friday evening, spread with the Bund at 174 basis points.
Continues the oil rise: Brent crude rose 0,9% to $54 a barrel, after gaining 5,4% last week. According to some reports, the OPEC-backed production cut will not only continue next year but could be increased to further increase prices.
Eni +0,6% and Tenaris +1,8% are up. Saipem +3,5%: the reverse stock split starts today in the ratio of one new share for every ten existing ones.
It is worth noting the increase of Registered +1,14%: The EU Medicines Agency has recommended the approval of cariprazine for bipolar disorder and schizophrenia. The company has announced an agreement with AstraZeneca for the acquisition of the European rights to some products for which 270 million will be invested in the marketing.
Down Stm -1,9%. The negative movement continues which saw the stock fall by 3,6% last week, after having reached the maximum of the last 10 years at 11 euros on 15,41 May.
Among the banks, Entente rises +3,2% (the changes are net of the coupon detachment) e B for Bank +1,9%. Impact Bpm bank +0,6%. Bending for Unicredit-0,4%.
Leap forward by Generali earning 2,4%.
Cattolica+3,3%, Unipol+2,5%.
Soul +2,7%, Azimuth +2,5%.
In the rest of the main basket still to be reported:
Telecom Italia (unchanged), Enel +0,2%. Leap forward by Italgas +2,6%.
Fiat Chrysler -1% and Leonardo -0,4%.
They also advance Fincantieri +2%, Sabaf +3,6% e Milan Fair +3,3%.
