Once the appointments with the central banks have been archived, the various countries, Italy in the lead, are dealing with the new situation. The Treasury without delay, announced the launch in June of the Btp Valore exclusively aimed at retail, commission-freei, rising ratesi over time and loyalty bonus with a minimum denomination of one thousand euros. The will to resort to the risen is evident Bot People to compensate for the lack of contribution from ECB purchases.
Btp Valore: with the end of ECB purchases, the Treasury focuses on Bot people
The market is evaluating the effectiveness of the new instrument: around 12,00 the rate of ten-year BTP it settles in the 4,22% area, after closing on Friday at 4,20%. The spread on the Bund on the ten-year stretch is around 190 basis points, in line with the previous close. In the evening, the Treasury communicates the details of themedium-long auction on Thursdayì 11st May, in which according to UniCredit it will make securities available for a maximum of 8,25 billion. The day before, Wednesday, the annual Bot will be offered for 7 billion.
The ECB meeting closed, on the macro front the negative surprises of the data on industrial production in Germany (this morning) and industry orders (Friday) could signal the repercussions of monetary tightening on the economy. Just yesterday Dutch central governor Klaas Knot said Frankfurt's interest rate hikes are starting to have an effect, even if the tightening will have to continue to contain high inflation.
Stock exchanges latest news: European indices up slightly
On the equity front, indices up slightly a Piazza Affari +0,2% to 27.400 points in a context of greater calm on the markets awaiting the important test of US inflation on Wednesday. Same script on the other markets (London closed for the coronation of King Charles III) thanks to the push of energy and banking. There German industrial production it declined more than expected in March, down -3,4% from the previous month, the Federal Statistical Office said. In a Reuters poll, analysts had estimated a 1,3% drop.
Il investor morale in the euro zone, it unexpectedly deteriorated in May, as persistent inflation and fears over energy issues tipped expectations of a spring recovery, according to a survey released today. L'Sentix index for the euro zone it fell to -13,1 points in May from -8,7 in April. Analysts polled by Reuters had expected an improvement to -8,0 this month.
In Piazza Affari the spotlights are on Banca Mps and Banco Bpm
Cnh Industrial stands out in Milan +2,7% after the release on Friday of above-expected quarterly results and after indications from management to analysts in which they say they are confident about a recovery in margins in 2023.
But the cover title belongs to Banca Monte Paschi +5,4% pending awaiting the results that will be communicated tomorrow morning and the speculative appeal linked to the M&A. According to some sources told Reuters, the Ministry of Economy is open to the possibility of reduce participation by 64% held in the bank through one or more equity placements on the market. Among the candidates for the operation, Banco Bpm stands out + 0,7% also in this case on the expectation of the quarterly results. Intesa Sanpaolo analysts write in the daily that they "have a positive view on the stock supported by the potential upside linked to speculation on M&A involving the company". The big Unicredit and Intesa San Paolo are more stable. Well too Hera and Nexi +1,3%. Prysmian up slightly after Credit Suisse started hedging with an 'outperform' rating and a target price of 44 euros.
Finally, cues on AVIO up 1,5% after the CEO said he confirmed record orders and results in line with expectations, on the eve of first quarter results tomorrow.
In negative territory Telecom Italia –1,4% prey to speculation waiting for the new developments of the match on the network. Diasorin -2,4% and Amplifon also lost positions after Friday's extension.
Wall Street futures are little moved. The Nasdaq was up 2,25% on Friday, first session up after four downs, ending the week with a 0,1% gain.
The protagonists of the session were the regional banks, PacWest Bancorp closed up by eighty percent. The Securities and Exchange Commission is not considering introducing a ban on short selling on banks.
Il exchange euro Dollar is at 1,104. This afternoon at 16.00, the chief economist of the ECB, Philip Lane speaks at an event in Berlin.
Il Brent oil and WTI pushes again and rises by 1,5%. Gold at $2.022 an ounce.
Bitcoin -5%, again below 28 thousand dollars.
