Piazza Affari opens the week up, +0,59%, 21.326 points and closes the session in the pink jersey, with Ubi rallying (+4,5%) and Telecom celebrating (+3,82%), after overtaking the uncertainties on the tops.
The day was heavy for London -1,01% and weak for Frankfurt -0,25%; partial gains for Madrid +0,19% and Paris +0,2%. Out of tune opening for Wall Street in anticipation of the Fed meeting that opens tomorrow and the quarterly reports of the technological giants; we start with Alphabet which will make its accounts known later, after the markets are closed. The performance of the stock markets seems to reflect, to a certain extent, the forecasts of the International Monetary Fund on GDP for 2017: Europe will be firmer than expected, with the exception of the United Kingdom, due to Brexit, and the United States weaker , with Donald Trump struggling to boost growth.
For Italy, the positive correction is 0,5%, going from 0,8% to 1,3%, a leap that also invigorates the bond market, after the positive path undertaken after Mario Draghi's press conference, last week. The ten-year yield falls to 2,06%, the spread with the Bund to 155,10 points, -2,08%. It should also be noted that the Ministry of the Economy will offer 6,5 billion euros of six-month BOTs (maturity January 31, 2018) in the auction next Thursday, July 27 and that Greece is ready to return to the market. The Greek Treasury announced this morning that it has mandated a group of banks to manage the issuance of a new five-year government bond and the simultaneous launch of a cash buyback offer on the outstanding bond maturing 2019, coupon 4,75 .XNUMX%.
The dollar recovers a few positions against the euro, which remains at 1,164 (-0,22%). Sitting in comeback for oil, with the start of the meetings of the producers in St. Petersburg and Nigeria ready to reduce production. Saudi Arabia is also willing to extend the period of cuts and could limit exports to 6,6 million barrels per day in August.
Brent at 48,57 dollars a barrel, +1,06%; Wti 46,3 dollars a barrel, + 1,16%.
Returning to the Stock Exchange: the weakest sector, at a European level, is that of auto, after the catch revealed by Der Spiegel and the confirmation by the German antitrust, which sent the documents relating to the alleged cartel between car manufacturers to the European Commission.
In Piazza Affari, however, the securities of the sector are saved, as they are not involved. Fiat yields 0,45%, while Ferrari starts racing again and scores +2,17%. Among the Italian blue chips, the most tonic is Ubi Banca, followed by Telecom on the day of the board meeting for the exit of CEO Flavio Cattaneo. The market seems to be rewarding the end of a phase of uncertainty, while Reuters reports that the Cassiopea plan, launched by the outgoing CEO, for investments in an ultra-broadband network in areas with market failure, would have been frozen.
On shields Bench Bpm, +2,88%, which in the middle of the session reaches a new high since the beginning of the year. Toned Banca Generali +2,16% e UniCredit +1,45%. In contrast, among the banks, Bper -0,68%, after the relegation of Kepler Cheuvreux. Well Luxottica +1,37%, which published the results for the second quarter of 2017 with the stock exchange now closed. In partial progress Atlantia +0,43%, which seems to be the favorite over Acs in the match for Abertis.
At the bottom of the list they are placed Enel -1,02% which today detached the coupon; Ferragamo -0,7%; Moncler -0,38%. Petroleum products in no particular order. Well Staipem, +1,79%: fractional growth for Eni, +0,15%; down Tenaris -0,51%.
