Piazza Affari remains the only red list in the euro area and in any case the most nervous: the Milan index at 13 pm was down by around 0,35%, just below 21.700 points. The other markets are on positive territory: Frankfurt +0,4%, flat Paris, Madrid +0,6% (the market likes the new government, led by the socialist Sanchez, with a strong pro-European imprint), London + 0,4%.
Still under pressure it spread, which rose to around 254 points (maximum at 257) against a yield of 2,95%, up from 2,76%. Even more worrying is the increase in the two-year bond, the most sensitive to the trend in demand, which rose to 1,29% (from 0,958%). The yield differential with Spain also widens to 151 points from 142, almost 10 points beyond yesterday's closing. The 5-year credit default swaps (CDS) on Italian debt rose to 230 basis points from 205 at yesterday's closing. In the meantime, the advantage over Greece, bringing up the rear of the Eurozone (to 158 basis points, the lowest since 2009) is reduced.
On the rise the euro at 1,1747, a ten-day high. In addition to the fibrillations of Italian politics, on the day of confidence in the government chamber, the day is characterized by the confirmation of Bloomberg's advances: the agency wrote that in Riga, on 14 June next, the members of the directorate of the European Central Bank will discuss from the end of ultra-expansionary monetary policy. This morning the chief economist of the ECB, Peter Praet reiterated that rates in the euro area will remain low for a long time and will remain at these levels well beyond the end of Qe. But the president of the Bundesbank, Jens Weidmann, speaking in Berlin, noted that "for some time, market participants have expected that asset purchases will end before 2018 is over".
Il Petroleum Brent is up 0,3% to 75,6 dollars a barrel supported by the possible stop of Venezuelan exports. This afternoon the data on US inventories released by the EIA.
Eni -0,4%, it has no significant exposure to Iran and therefore does not expect to be impacted by the secondary sanctions announced by the United States, a spokesman said yesterday. Saipem -0,2% Tenaris -0,3%.
In this context, the target practice on Italian banks continues, which, having started up, soon exhausted their attempt to rebound. The sector index dropped 1,6% against an almost unchanged performance of the European Stoxx: Understanding leaves 1,8% on the ground, Unicredit 2,3%. Under fire too Ps (-2,1%).
Managed savings also thwarted. Italian post -0,2% Azimuth-1,9%. The managers of the company, gathered in the financial Timone, bought 5% of the capital, reaching 24,2% of the capital. Anima -3,3%. They hold Finecobank (+ 1,1%) and General Bank (+ 0,8%).
Among the few rises it stands out stm (+1,2%) in line with the advance of US technology. It bounces Mediaset (+2,14%) after the losses on the eve. The sector awaits the billionaire clash on Sky between Fox-Disney and Comcast, after the ok to the auction by the British authorities.
Corre Amplifon (+3,4%, from +6% at the start) which benefits from a "buy" promotion by Goldman Sachs.
