The word at the polls. Markets acknowledged last night that a last-minute avoidance deal is now very unlikely the Greek referendum on Sunday. And so the enthusiasm caused by the release of the Greek government's letter to its creditors, in which it expressed its willingness to accept, albeit with some variations, the EU agreement proposal, cooled down during the day.
from Germany came the refusal to reopen any negotiations with Athens before the referendum. In the afternoon, Alexis Tsipras went on television to urge Greek voters to vote no. A cold shower that will weigh on the price lists today. Even if there will be easy prediction, new twists, real or only probable, but capable of influencing prices.
The climate of uncertainty has not prevented the Tokyo Stock Exchange to achieve an increase of 1,1%. The bull was favored by the rise in the dollar, traded at 123,44 against the yen. Instead they go back down the Chinese markets: Shenzhen -2%, Shanghai -0,7%, despite new measures to help the list. The New York Stock Exchange, which rose more than 1% before Tsipras' words, trimmed gains at the close: the Dow Jones index rose 0,80%, the S&P 500 about 0,6% and the Nasdaq 0,53 %.
The most relevant figure of the day was the strength of the dollar which gained positions above all on the euro, which slipped this morning to 1,1048. The trend, in addition to the Greek events, is linked to the positive macro data arriving from the US economy: the purchasing power of households rises (+0,8%), which recorded the largest increase since 2007. The estimate on jobs in the private sector recorded an increase of 237 thousand units against the 218 thousand expected; thus the chances of a rate hike in September are growing.
On the contrary, it curbs the price of Petroleum after the increase in US inventories: WTI lost 2,51 dollars to 56,96 a barrel, Brent traded this morning at 62,21 dollars a barrel. However, Eni advanced by 0,88%. Sharp stop for Saipem (-1,9%): the Norwegian oil group Statoil has announced the suspension of the contract with the Italian company for a platform due to the overcapacity of its rig portfolio.
MILAN (+2,2%) BELIEVES IN HAPPY ENDINGS. SPREAD BELOW 150 POINTS
Throughout the day, the European stock exchanges believed in the happy ending of the Greek drama. Tsipras' latest TV message has cooled the enthusiasm. But the price lists have held: you bet on the victory of the yes. The Milan Stock Exchange (+2,2%) closed the frantic day on the upside, climbing towards 23 thousand (Ftse Mib at 22.943,6 points). Frankfurt accelerated to +2,15%, Paris closed with +1,94% and the Ibex gained 1,92%, closing at 22.943,64 points.
The spread and the BTP slightly recovered. The Italian 2,27-year yield fell to 5%, down 145 basis points, spread at 11 basis points (-XNUMX basis points). There was no shortage of corporate issues, albeit obscured by macro-political tensions.
FCA SUPER, GM MISSES. AND FLY CNH
The Agnelli team is on the move. For Fiat Chrysler (+0,84%) the good news arrived in the evening. Sergio Marchionne, forced to rest due to back pain (supermanagers suffer too), had good reasons for consolation yesterday. In June, the Italian market rose by 14,35% to 146.682 units, but the FCA group did better, with a 20% rise in registrations to 41.600 units and a share of 28,4% (from 27,1%).
Even more important are the data from the USA, where the group celebrated its 63rd consecutive month of growth with an 8% jump in sales, thanks to the boom in Jeep (+25%) and the Chrysler brand (+28%). ). On the other hand, GM suffers, the giant that snubbed Marchionne's offers: – 3%, confirming that a merger can also be useful for the shareholders of the leading company.
Exor advances by 3,4%. Finally, a great leap by CNH Industrial (+4,9%) driven by data on the sowing of cereals in the USA, which could anticipate an increase in the price of commodities.
FINCANTIERI RETURNS TO OFFSHORE
Positive day also for the other industrialists. Finmeccanica (+2,93%) and Prysmian (+1,39%) closed higher. Fincantieri rebound (+4,1%). Justice Minister Andrea Orlando said that the government is doing everything possible to quickly reopen the Monfalcone plant, seized by the judiciary as part of an investigation into an alleged illegal dump.
The name of the customer who ordered the new ultra-luxury cruise ship with delivery scheduled for April 2017 has been made public. It is Silversea Cruises, a well-established company in the sector. The new unit will be called "Silver Muse", with a gross tonnage of 40.700 and the capacity to accommodate 596 passengers on board.
MEDIASET SUPERSTAR SAYS NO TO MURDOCH
Yesterday's great protagonist was Mediaset (+4,3%, to 4,49 euros). Piersilvio Berlusconi announced that in June the Alfa Romeo group recorded a 6% increase in advertising sales, a momentum that brought the second quarter to close substantially on the levels of the same period of 2014.
With regard to the offer presented by Mediaset to the Mondadori "sister" for the R101 radio, Berlusconi defined it as a competitive offer within a project that aims to create a "cross-media" system that could expand to other radio stations in the future . Mediaset and Mondadori are both controlled by Fininvest.
There are also possible developments in relations with the French media group Vivendi, Telecom Italia's new reference shareholder (+2,5%): soon, said the CEO, a commercial agreement on pay TV could arrive.
The most tempting news, however, concerns the revelation of an offer for Mediaset Premium by Sky: the Murdoch group offered 1,1 billion for Alfa pay TV, but the proposal was considered inadequate. “No announcements are expected anytime soon,” said Piersilvio himself.
UBI BEST BLUE CHIP, THE TREASURE IN MPS
The banks rebound, also thanks to the return of the speculative component on the risk of the Popolari. In particular, Ubi Banca turned out to be the best blue chip with an increase of 4,5%. We are once again talking about Banco de Santander's interest in strengthening its presence in Italy where it is present in consumer credit.
Less credit collects the Monte Paschi hypothesis where, since yesterday, the Treasury controls 4%. The MEF has signed an agreement which commits it not to sell the securities of the Sienese bank for the next six months.
Unicredit +3,4%, Intesa +2,8%. Generals +2,7%. On the managed side, it was a positive day for Anima Holding (+0,89%), Azimut +0,80%. Banca Generali (+0,19%) has released fundraising data for asset management which amounts to 354 million.
