Business Square +0,2% around the 22.250 level seems set to end the week with a new increase. Around parity instead Frankfurt. Weigh the warning, the second in just one month, from Daimler which signaled to investors the prospect of a second-quarter loss of 1,6 billion euros, attributing part of the blame to the increase in provisions for a recall involving airbags manufactured by Takata. Deutsche Bank recovers +2%.
The other stock exchanges rose, albeit slightly: the best are Paris +0,5% and Madrid +0,2%. Flat London.
The worsening of Chinese imports/exports emerged from the data published after the closure of the local lists should be noted. Exports drop by 1,3%, imports -7,3%. Second quarter gross domestic product data will be out on Monday.
In May, industrial production in the euro area returned to rising above expectations thanks to the growth of non-durable consumer goods, clothing and packaging. This was announced by Eurostat, specifying that the increase in production in the 19 countries of the euro area was 0,9% on a monthly basis while on an annual basis there was a drop of 0,5%.
The Italian secondary goes negative in the middle of the session with the rest of the euro bonds. The Italy-Germany yield differential on the ten-year stretch is worth 197 points. The ten-year rate rises to 1,74% from 1,72%. The yield on the ten-year Bund rises to -0,201, on the highs of the end of May. In Germany, wholesale prices in June grew by 0,3% on an annual basis against +1,6% in the month of May.
In the absence of improvements in the macroeconomic framework, "further expansive measures" by the ECB will be necessary, Governor Ignazio Visco said this morning when speaking at the ABI assembly. The Italian GDP is expected to grow by 0,1% in 2019 and by "just under 1% on average for the following two years", said the governor, anticipating the new Bank of Italy estimates which will be released today.
With closed markets, the verdict of the Dbrs agency will be published on the Italian sovereign rating currently at 'BBB (high)', stable trend.
THEeuro it is flat at 1,125 on the dollar.
Il Petroleum WTI is up at $60,40 a barrel. The same rise for Brent to 66,94 dollars a barrel, +0,6%. The week is about to close with a gain of more than 4% for both types. Flat Eni -0,05%. Saipem +1,27%, ahead of a new 2 billion dollar order: the Saipem-Subsea 7 joint venture would be the first classified to win a 2 billion dollar order for a gas transport plan off the Mozambique coast. Tenaris + 0,45%.
Well set up the banks thanks to the drop in the spread: Ubi + 2,2% Intesa Sanpaolo +0,2% and Unicredit + 0,34%. nexi +0,2%, update historical record.
Still up Mount Paschi -0,3%. According to MF, the Treasury has started discussions with Brussels to prepare for the bank's exit from the capital and could ask for a six-month extension to notify the plan from the current deadline set at the end of this year. On the plate a placement of the share or an aggregation.
The market appreciates the interest of Atlantia + 1,69 % for Alitalia. Standard & Poor's put the group's ratings on negative CreditWatch.
It also advances fca +2% which announced investments of 700 million euros to build the electric Fiat 500 at the Mirafiori plant. A consolation prize for Turin which lost the motor show due to an incredible own goal by the Five Star administration.
Ferrari +0,3% intends to repurchase up to 315,395 million euro of two bonds on the market, the consideration for which will be paid in cash.
Other industrial stocks shine: Prysmian + 2,6% Pirelli +1,9% e Buzzi + 1,8%.
Today's best headline is immsi +7%. In great evidence Brunello Cucinelli +2,5% which closed the first half of 2019 with revenues up by 8,1% (+7,2% at constant exchange rates) to €291,4 million, confirming the positive expectations for the current year and for the next.
