The agreement with Greece can already be reached tomorrow within the Eurogroup. The prediction is by Matteo Renzi. François Hollande was more cautious, having "lent" Alexis Tsipras the technicians to fine-tune the plan (no more baby pensions, VAT reform, taxes on the oligarchs) presented yesterday in Brussels.
The Stock Exchanges, however, have already decided: in Milan the Ftse Mib index comes close to 3% (2,96% at 13.26pm) at 22.928. The government bond market is even more tonic: the spread slips to 122 points (against 165 on Monday). The 2,09-year yield is XNUMX%.
Full success this morningBot auction at 12 months but with a yield doubled to 0,124% from the previous 0,061%. Paris, the best, is up 2,95%, just above Madrid +2,32%. Frankfurt +2,5%. The euro rose against the dollar at 1,1167. This morning the Shanghai Stock Exchange, thanks to state life-saving measures, rose by 4,5%. Macro data contributes to optimism: industrial production rose by 3% in May, driven by the recovery of the car industry (+55%). It is the best data of the last four years.
The banks are leading the rally in Piazza Affari. The head of the pack is always Monte Paschi +5.3% An ICBPI report reveals that since 26 June the Sienese bank has lost 19% against an average drop of the other major Italian banks of around 8%. At current prices, MPS capitalizes less than half of the assets (recently increased by 3,5 billion), at a significant discount compared to the Italian average. The FTSEMib general index rose by around 2%, like that of European banks.
Unicredit goes up by 3,57%, Intesa +3,68%. Bpm +2,43%. Banco Popolare advances; BlackRock increased its stake to 5,37%. In general, all financials rose, with Azimut and Generali around +3%.
Saipem also rebounds +1,28% after the slide caused by the failed contract for the Turkish Stream. Eni +2,2%. Rises of around 1,5% for Fiat Chrysler and Telecom Italia. Enel +1,65%
