Ferrari, utilities and fashion give the charge to Piazza Affari, which closes up by 0,84%, 21.190 points, with banks in good shape and oil companies on the rise, thanks to the afternoon recovery of crude oil. The other European markets were positive, but to a lesser extent: Frankfurt +0,46; Paris +0,4%; London +0,26%; Madrid +0,21%. Wall Street opens mixed and is now in moderately positive territory, without major macro cues, awaiting the speech of Janet Yellen, Wednesday and Thursday in Congress, and the new quarterly season, starting on Friday, with the publication of the Citigroup, JP Morgan and Wells Fargo. Abercrombie & Fitch is at a peak, after announcing that the negotiations for a possible buyout, hypothesized last May, have foundered.
The euro-dollar ratio was slightly moved, 1,139 (-0,07%). Oil goes up and down, but the addition of the plus sign in mid-afternoon gives the price lists a little sprint. Brent +1,07%, 47,21 dollars a barrel. Stable gold.
Bonds are taking a breather after the tensions of the last week: the spread between Italian and German ten-year bonds falls by 1,25%, 173.30 basis points; yield 2,28%. The market is also dominated by the expectation of the announcement of medium-long term Italian auctions in the middle of the month.
Meanwhile, the German finance minister, Wolfgang Schaeuble, on the occasion of the Eurogroup, promotes action on banks: “Italy has done very well in a difficult situation and I think it is a good basis for continuing our work. Of course, there is also a complicated political situation, but step by step things are starting to improve”. Cold shower instead from Brussels on Matteo Renzi's proposal to keep the deficit at 2,9% for five years, in order to free up resources to boost economic growth. "Nothing" from the commissioner for economic affairs Pierre Moscovici and the president of the Eurogroup Jeroen Dijsselbloem, while for the Italian economy minister Pier Carlo Padoan he glosses over and says: "it is a topic of the next legislature".
On the Ftse Mib today Italgas is highlighted, +3,36%, on the expectation of new operations in the gas sector in Europe, as indicated by a study by Fortum analysts, while news is expected for the Gas Natural Italia tender. Enel also bought well +1,65%. The auto sector is picking up: Ferrari roars again, +3,32%; Fiat +1,39%. Money on Cnh +2,57%. In fashion, Moncler stands out +2,68. On the opposite side, however, is Ynap, -3,26%, on which investors are collecting after the gains of the last few sessions. Weak Telecom, -1,8%, due to alleged friction between Vivendi and CEO Flavio Cattaneo. Weak Luxottica -0,19% and Mediaset -0,68%.
In cash, Stm +2,01% and oil companies Eni +0,31%, Tenaris +1,27% and Saipem +2,01%, after the rise in black gold. The banks tend to be positive, with the exception of Ubi -0,97%.
Positive Banco Bpm +1,18%, with Anima (+6,16%), which confirmed its interest in the creation of an asset management hub which, according to rumors, would also involve CDP and Poste (+0,25% ). At the request of the supervisory authorities, the asset manager released a document in which he specifies that preliminary discussions are underway to verify whether the option of an offer to Banco Bpm to take over the subsidiary Aletti Gestielle is feasible. Excellent session for Banca Mediolanum +2,07%.
Among the minor stocks, Landi Renzi remains in a euphoric phase, +12,37: since the beginning of June, the stock has more than doubled its value, reaching 1,09 euro, a price level not seen since April 2015, in a strong upward trend that has seen volumes more than triple in the last 30 days compared to the average of the last six months.
