In anticipation of tomorrow's ECB meeting, the yield on BTPs drops to historic lows and the stock exchanges close a positive session, with the Ftse Mib putting the turbo on and gains 1,41%, the best among European markets. Paris rose by 0,61%, London +0,3% and Frankfurt +0,62% despite the sharp and unexpected drop in industrial production in Germany in July. The data published today revealed a contraction of 1,5% compared to June, compared to the expectations of a slight increase by analysts (+0,2%).
Thus, today the 3,5-year Bund has filed a new all-time high for rates in this morning's 2026-year Bund auction. The German government placed 0,11 billion on the market for the Bund in August 0,9 at a negative rate of XNUMX% which updates the previous record (-XNUMX%) recorded in the previous August auction. The auction was technically uncovered, a not infrequent result in Bund auctions in Germany.
Lo Btp Bund spread it closed at 120 basis points, on yesterday's values, while the yield on the ten-year BTP is also at an all-time low at 1,08%. The Treasury has scheduled an auction of annual BOTs for 12 billion on 6,75 September next.
While the European markets are betting on new strong decisions by Mario Draghi, on Wall Street the indices continue the session with a slight decline awaiting the publication this evening (20 pm Italian time) of the Federal Reserve Beige Book on the state of the US economy. In the afternoon, however, the Nasdaq turned positive briefly to hit a new intraday high. The tech index rose 0,2% and is hovering around its highest since 2000, after Facebook hit a record high.
Il exchange euro Dollar slips 0,11% to 1,12379. Oil rose with Brent at 47,86 dollars a barrel (+1,27%) and Wti at 45,39 dollars a barrel (+1,25%).
In Piazza Affari, Bper and Leonardo stand out on equal terms with an increase of +3,37%. The defense stock returns to its highest level since the end of May after announcing a strategic alliance with the Polish Pgz. Highlights too Recordati +3,26%, Ferrari +3,03%, Stm +2,87%. Enel up 2,74% after Goldman Sachs raised its recommendation to Buy and added the stock to its Conviction Buy List.
Eyes up Generali +1,4%: investors are wondering about the move by Société Générale which is in the capital of the insurance company (4,171% of the capital). However, the French bank communicated in a note that Société Générale's stake in Generali "results from transactions carried out on behalf of customers as part of the bank's market activities".
Unicredit recovers the sales of the morning and closes up by 1,04% awaiting the moves of the new CEO Mustier. Mps +0,38%: Prime Minister Matteo Renzi said he was convinced that the conditions were in place for the bank's capital increase to take place within the year.
Popular bank +1,11%. the ECB's go-ahead for the merger between the two popular banks could arrive by the end of this week. The Governing Council of the ECB will be held tomorrow which should ratify the proposal of the supervisory boards. The management meeting of Pop Milano, scheduled for yesterday afternoon, has been postponed to 12 September. However, the Milanese instinct slips to the bottom of the Ftse Mib and yields 1,4%. Only two other stocks in the red among blue chips: Cnh -0,23% and Telecom Italia -0,06%.
