A day of ups and downs for continental price lists which, after a good morning, skidded in the afternoon with the thud of oil, caused by weekly data on US inventories higher than expected. Brent dropped 3,51%, at 48,36 dollars a barrel, while Wti dropped by 4,3% to 46,12 dollars.
After numerous ups and downs, Piazza Affari closed flat, -0,01%, 20.739 basis points: Stm +3,79 and Prysmian +2,75% remain on the shields, while Eni loses 1,99%; thwarted the financials. Wall Street opens smoothly and proceeds in modestly positive territory.
The other European markets are following Milan, on the eve of a big Thursday, with three key appointments on the calendar: the British elections, the ECB meeting, the hearing of former FBI director James Comey in the US Senate. If these events weren't enough to keep investors on the edge, add the tensions in the gulf, the grip of terrorism, the unknown factor over the Italian elections. The weakest market is London -0,62%. Frankfurt loses 0,14%; Paris and Madrid 0,07%. The morning's purchases had been largely supported by the banks, following Santander's decision to buy Banco Popular at the symbolic price of one euro (with a capital increase of seven billion), thus avoiding the systemic contagion of a possible bail-out. in.
Wall Street opens smoothly and proceeds in modestly positive territory, while the euro drops 0,21% against the dollar at 1,1255, after losing even more ground following press rumors about a probable cut by the ECB of the estimates on inflation over the next few years.
Instead, the race for the spread restarts: the Italian ten-year yield rises to 2,29%, while the differential with the Bund super quota 200, and goes to 202.50, +2,22%, the highest since last April 19th. The widening between thirty-year BTPs and Bunds is also conspicuous with a gap that rises to 232 basis points from 224 last night, always reaching the record since 20 April.
Reuters also reports that the new 30-year BTP in March 2048, issued through a syndicate of banks for an amount of 6,5 billion, will pay a coupon of 3,45%. A note from the Treasury also informs that on the occasion of the BOT auction, on Monday 12 June, the Ministry of the Economy will make 6,5 billion 12-month BOTs available to investors, an amount identical to that maturing on 14 June, the date of placement currency.
Looking at the performance of individual stocks: in addition to those already mentioned, purchases reward Banca Generali, +2,55%, after the May accounts released yesterday. Unicredit also performed well +0,98%, which completed the sale of 32,8% of Bank Pekao. Finecobank still strong +1,24%. On the opposite side Azimuth -1,8%. Earn Fiat: +1,09%; Recordati loses -1,6%.
Weak Leonardo -1,14% and above all Yoox -1,74%. Unipol galaxy -1,27%, in difficulty, Unipolsai -1,02%. Among the oil companies, in addition to Eni's loss, there is Tenaris in trouble, -1,12%. instead, Saipem rose +0,93%.
