A week that began in deep red ends in pink. The European stock exchanges have completely erased the wounds caused by the Greek no in Sunday's referendum. Just another no, this time from the Greek Parliament to the proposals of Alexis Tsipras (which will not be voted on by Yanis Varoufakis) could cause another stop, this time fatal. But nobody wants to think about the markets.
In Milan, the Ftse Mib index closed up 3%, a hair below 23 thousand (22.937) after falling during the week to the barrier of 20 points. Even more effervescent Paris +3,07% and Madrid +3,08%. Frankfurt +2,90%.
The euphoria, favored by the good closure of the Shanghai Stock Exchange (+4,8% thanks to the intervention of the state finance), has also infected London +1,39% and Wall Street: S&P500 and Nasdaq rise by 1,2 %. The recovery of the Btp is even more sensational: the spread with a bund stood at 125 points against 165 at the beginning of the week. The 2,15-year yield fell to 2%, after falling back to just over XNUMX% in the morning.
The main drive comes from the banking sector: the European stoxx of the sector gains 2,6%, Monte Paschi has rebounded by 8,1% recovering much of the lost ground (-19%) in the last two weeks.
In Milano Intesa gains 4,4%, Unicredit +4,1%. Banco Popolare +3,11..
Generali achieved an increase of 3%, UnipolSai +2,2%.
Among the industrial stocks, Fiat Chrysler rose by 1,2%, Finmeccanica +2,4%, StM +1,6%. Strong increases for Cnh Industrial +4,5% and Buzzi +3,6%.
Utilities also recorded significant gains, starting with Enel +2,6%, Snam +3,6%, Atlantia +4,1%.
Eni rose by 2,5%. The exception is Saipem, which fell by 4,4%. Among the luxury stocks, a positive Luxottica +2,9%: Barclays confirmed the overwieght recommendation, target price of 63 euros.
