A flat, apparently anonymous seat, conditioned by the absence of the American market. But, on closer inspection, there was no shortage of reasons for interest in Piazza Affari and the other price lists of the Old Continent.
First of all, it was the day of "green" energy thanks to the news arriving from Germany: the government of Frau Merkel has decided to close the 17 German nuclear power plants by 2022. The reaction was immediate on the price lists of all of Europe. In Frankfurt there were robust increases for companies active in renewables: SolarWorld, Sma Solar, Nordex, Q-Cell, Phoenix Solar. The Scandinavian Vestas and Renewable Energy are also on the rise. The trend obviously also affected the Italian market: Enel Green Power came close to a 5% increase, Terni Energia also did well (+2,9%) also stimulated by a mini-acquisition that allows it to enter the energy saving field . Furthermore, Falck Renewables and Pramac are on the rise.
On the financial front, on the other hand, uncertainty reigns supreme on the Greek front, with repercussions for the entire financial sector. Intesasanpaolo (-1,1%) and Mps (-1%); Victor Massiah's meeting with analysts coincided with a modest rise in UBI (+0,4%).
Meanwhile, in the shadow of the Parthenon, the discussions between the inspectors of the troika (ECB, IMF and EU) continue with those responsible for the Greek government in view of a possible, but far from certain, new financing for Athens. According to the Greek Finance Minister, George Papaconstantinou, the agreement will take a matter of hours or so. The German Sherpas are much more cautious: perhaps it closes at the weekend.
As for the outcome of the Italian Treasury auctions, dispel the shadows of the downgrading of S&P and the doubts of The Wall Street Journal: a total of 8,285 billion euros of medium/long-term securities were placed at slightly lower rates. In particular, the demand for the three-year BTP covered the entire offer of 3,5 billion at a yield of 3,43% (against the previous 3,45). Meanwhile, on the currency front, another record was recorded for the Swiss franc (1,218) while the euro also lost positions against the dollar (1,428 from 1,4319).
As far as industry is concerned, there are no comforting notes on the macro front: the rapid survey by Confindustria's CSC records a modest +0,1% in industrial production for the month of May. In return, the market continues to like Fiat's rush towards Chrysler: after the OK from the US government, Marchionne has already announced that in a few days the 1,6% held by Canada will also be acquired.
Among the minor titles, the leap (+7,2%) by Aeffe should be noted after the president Massimo Ferretti declared that he was studying the return to Italy from the controlling Luxembourg holding company.
Finally, a note related to local elections. "With the victory of the center left, nothing changes," said the chairman of the supervisory board of A2A Graziano Tarantini, close to the Compagnia delle Opere. “The important thing is that management autonomy is maintained”. But Tarantini himself added, regarding the fate of Edison, disputed by the French of EDF, "that now it will be necessary to see if there will be repercussions from the change of majority in Palazzo Marino".
