The week of the markets resumes with his eyes already overseas, to what he will say Janet Yellen in a speech scheduled for today in Philadelphia. Operators are waiting for explanations on the trend of the US economy after last Friday's disappointing job data (the new jobs created in May were lower than expected). The market tries to understand what the moves of the Fed after Yellen called a rate hike “appropriate” in recent days. At the next meeting, on 14-15 June, a week before the Brexit referendum, however, nothing is expected yet.
On the central bank front, eyes are also on the effects of the purchase of corporate bonds by the ECB, which will start this week as announced by the president Mario Draghi.
For now, the markets are leaning towards caution. The Asian bags they are trading lower with the Nikkei closing down -0,7%. The Petroleum Wti rose by 0,48% to 49,10 dollars a barrel.
Il exchange euro Dollar slides 0,22% to 1,1342 as it falls there GBP to three-week lows on renewed Brexit fears. There Bank of England, as anticipated by its governor last March, has created a parachute fund to alleviate the liquidity problems of banks in the event of a market shock. From 14 June, British lenders will have access to the fund and extraordinary loans are also planned for 21 and 28 June.
Intano lifted the veil on an internal hedge fund created by consulting giant McKinsey for partner investments. According to experts interviewed by the FT, the vehicle raises questions about conflicts of interest.
In Italy today is the day of the local election results in many Italian cities, including Rome, Milan and Turin. In Milan Parisi and Sala are tied while under the Mole Fassino does not break through. In the Capital, an advantage for the five-star Raggi, who "is on the way to becoming the first female mayor of Rome", headlines on the Bloomberg homepage.
In Piazza Affari we look at the start of theshare capital increase of one billion of Banco Popolare. The new shares will be issued at a value of 2,14 euros each, with a discount of 29,3%. Shareholders will be able to avail themselves of the option of 9 new shares for every 7 already held. The rights will be negotiable until June 16. The increase can instead be subscribed until 22 June. Revisions in progress on the Ftse Mib: from 20 June it enters the basket of Recordati blue chips, which has risen to all-time highs, which replaces Anima Holding.
