BUSINESS PLACE ONLY NEGATIVE EXCHANGE. SPREAD TO 306
BANKS ARE WEAKING, POLITICS IS SCARY
Back to being heard, beyond the official reassurances, the Italian risk. And so, while Europe continues its recovery driven by Wall Street and the comforting statements of Mario Draghi ("I see some signs of stabilisation"), Piazza Affari slips into negative territory, with worrying prospects on the debt front.
In Milan the Ftse Mib index yields 0,37% to 15037.
On the other hand, London +1,33%, Paris +1,59%, Frankfurt +1,65% and Madrid itself rose by 0,67%, disengaging from the combined knot with Italy.
Economic data pushes Wall Street, confirming that Ben Bernanke's optimism on the economy is based on solid evidence: S&P 500 +0,8%, Dow Jones +0,74%. NASDAQ +0,61%.
Consumer confidence index it rose to 81 in June, the highest level it hasn't seen since February 2008. In May, new home sales rose 2,1% from last month to 476.000 new homes. US manufacturing orders rose more-than-expected in May while planned business spending rose for the third month in a row. Durable goods orders increased by 3,6%. This is how the revenge for US banks sounds: Citigroup rises by 2,5%, Bank of America +1,7% and JP Morgan +1,5%.
Meanwhile, gold loses 0,7% at $1273 an ounce. Wti-type oil flat at 95,1 dollars a barrel.
A completely different script for the Bel Paese.
Lo BTP/Bund spread it rises by 6 basis points to 306 for a 10-year BTP yield of 4,85%. Meanwhile, the spread with Spain closes at 20 basis points, a sign that distrust is penalizing our country in particular. The Treasury has assigned all 3,5 billion euros of the new 24-month CTZ, but the yield has soared to its highest level since September 2012, reaching 2,403% from 1,113% at the May auction.
The more sour note is that the secondary market was trading at a yield of around 2,35% before the auction. A sign of weakness that worries not so much for tomorrow's auction (8 billion 6-month BOTs) but for Thursday's much more demanding issue. Maria Cannata, director general of the Treasury, does not appear worried. “Yields are at the same level as the end of March. She said in London – We lost XNUMX-year gains in terms of lower yields between April and May, but the yields remain within our reach ”.
In Piazza Affari the banks, hit by the spread effect, led the decline.
The worst blue chip is Banca Popolare dell'Emilia – 6,56%, followed by Banca Popolare di Milano -5,45%.
The drop in was also heavy Mediobanca -4,97%. Mps drops by 3%.
Understanding -0,49%. Unicredit down 1,21%%, with Exane confirming the target price at 3,3 euro and the underperform rating.
Among the Fondiaria-Sai insurance companies -4,1%.
Generali -0,15%. The company could soon finalize the sale of Fata Assicurazioni to Cattolica Assicurazioni. For Banca Akros, any sale of assets would be favorable for the share price, not for UBS, which today started hedging the stock with a neutral rating and a target price of 13,10 euros.
The recovery of is reduced in the final Mediaset + 1,84%.
Fiat salt by 3%. Other titles highlighted: Diasorin +3,37% Prysmian +2,92%, Tenaris +3,46%. Stm +1,2%, Saipem is down again - 2,73%.
