The markets' enthusiasm for the Greek vote has already evaporated. Immediately after a rally start, Milan turned even in negative territory (-0,87%), while the other lists largely reduced their gains: Paris is up by one point, like Frankfurt, while London scores +0,66, 460%. The spread between the BTP and the Bund started to rise again, once again exceeding the threshold of XNUMX points.
The markets hope that a definitive decision will emerge from the G20 meeting in Los Cabos on strengthening the resources available to the IMF (430 billion) and, above all, that a concrete proposal will emerge to be promoted at the next meeting in Brussels. Germany, according to the German press, could say yes to "light Eurobonds": short-term issues of limited size issued by individual states but with a common guarantee.
«Today the Greeks have chosen to remain tied to Europe. This is a victory for all of Europe." The conservative leader of Nea Dimokratia Antonis Samaras thus announced his electoral victory. New Democracy is the first party with 30,5% of the votes: with the majority bonus granting a "bonus" of 50 deputies and Pasok's socialists, a coalition considered politically improbable takes shape, but with the majority in Parliament.
"Greece urgently needs a government," commented the leader of the radical left Alexis Tsipras, confirming that he will remain in the strong opposition of his 26,5%, a historic result for the left.
The Eurogroup, after the vote, seems ready to re-discuss the times of Athenian austerity. Europe's hope, expressed in an official note, is that of a "fast formation" of a new Greek government: only later will the Troika return to Athens to evaluate the progress made in restructuring the accounts. However, you will talk about it after Friday 22 when the Greek national team will challenge the great Germany in the quarterfinals of the Europeans in Gdansk.
Piazza Affari anticipated, first of all the markets, already last Friday the breath of optimism that reigns at this morning's opening. The FtseMib index of Piazza Affari rose by 2,3%, the best among the European stock exchanges: London rose by 0,2%, Paris +1,8%, Frankfurt +1,4%, Madrid +0,1 %.
Even more relevant on a psychological level is the fact that the yield on the 6-year BTP has drastically fallen back below XNUMX%, to 5,89%, leaving behind the difficulties recorded in the mid-month auctions. The spread with the Bund narrowed by 445, 16 basis points less than the day before. Signs of recovery were seen on the short end of the curve: the yield on the 2-year BTP dropped by 14 basis points to 432 for a yield of 4,4%.
With the weekend hike Piazza Affari has canceled the previous decreases of the week and the balance of the last five sessions is equal. Since the beginning of the year, the FtseMib index is down by 11,2%. Today, however, a gentle handicap will weigh on the Ftse/Mib index: a good number of companies will trade ex-dividends, the impact will be considerable, equal to approximately -1,2%.
The detachment coupon will involve six companies listed on the Ftse Mib for a total of 2,81 billion. The most generous dividend payout is that of Enel which will distribute to its shareholders just over 1,5 billion (0,16 euros per share) followed by Intesa Sanpaolo which remunerates shareholders with 775 million (0,05 euros).
The other companies in the basket affected by the detachment coupon are A2a (40,7 million and 0,013 euro per share), Exor (53,6 million and 0,335 euro), Parmalat (175,7 million and 0,1 euro) and Terna (261,3 million and 0,13).
