Lo spread down, to 190 basis points, is not enough for the banks that are holding back today Business Square, -0,02%, 22.178 points and confine it to the bottom of the European lists. They actually do better Frankfurt + 0,5% Paris + 0,1% Madrid +0,3% and London +0,33%, while Wall Street, after another record start, is now swinging at the waterline. It's flat Citigroup, which started the earnings season with better-than-expected earnings and revenues. On the other hand, Treasury prices are on the rise, after a week in reverse. Investors seem to be suffering from the slowdown in the Chinese economy and are thus orienting themselves towards assets considered safer. In fact, the celestial empire's GDP grew "only" by 6,2% in the second quarter of the year and it is the worst result for 27 years now.
In any case, calm seems to be the dominant note of this day. L'euro dollar is moving in the range in which it has fluctuated in recent times, around 1,125, in a balance created by waiting for the next meetings of the central banks, the ECB (July 25) and the Fed (July 30 and 31) and the confirmation of their more accommodating policy. L'gold it is little moved in the area of 1412,75 dollars an ounce. The Petroleum Brent oil fell by 0,13%, to 66,63 dollars a barrel. In this panorama, the Italian secondary stands out, where the yield on the 10-year BTP falls to 1,65% and the differential with the German 3,85-year bond falls by 190%, to 2018 basis points, the lowest since May 2.364,7. This is partly due , the confirmation of the rating (BBB) and the stable outlook by the Canadian agency Dbrs. Good news on the debt front with Bank of Italy which certifies the drop in May to 8,7 billion, XNUMX billion less than the previous month.
Despite this, profit-taking prevails over banks listed on the Milan Stock Exchange. Sales penalize in particular Bpm bank -2,29%; Ubi -1,92%; Finecobank -1,77%; Unicredit -0,88%; Mediobanca -0,75%. Out of the main basket Ps sheds 5,58%, after gaining a lot in the last eighth.
Oil stocks also lost share, with Saipem -1,41%; Tenaris -1,11%; Eni -0,77%. Instead, fashion stocks are worried by the slowdown in Chinese GDP: Moncler -1,27%; Ferragamo -0,75%. Purchases reward Amplifon, +2,9%, which in the session once again reaches its all-time highs at the end of June. Recordati, +2,08%, in the wake of the announcement of the agreement with Novartis to purchase the rights to some drugs to combat rare diseases. They go up Buzzi +1,3%; Ivy +1,14%; Azimuth +1,14%. I bounce for Cnh + 0,89%.
Out of the main list Mediaset loses 1,16%, although the Court of Rome has sentenced the French portal Dailymotion, owned by Vivendi, to pay compensation of 5,5 million euros al Biscione for having illegally published some videos covered by copyright. In a note, Mediaset recalls that this is the first sentence in a series of seven ongoing cases and that, according to these economic criteria, the final compensation could exceed 200 million euros. Among the minors the leap of Cleansing, +12,72%, in the wake of the award to the Milan-Cortina tandem of the 2026 Winter Olympics. Good Astaldi +5,42%, down Salini -1,73%.
