European stock markets improve in the final driven by Wall Street, which regains its appetite for risk despite concerns about the possible impeachment of US President Donald Trump. To encourage purchases is the possibility of a trade agreement with China “much sooner than expected”, says the pyrotechnic tenant of the White House, thus reviving the stock markets, diverting attention from his political problems.
The closure of the continental markets is in the red, but far from the day's lows. Piazza Affari loses 0,51%, stopping at 21,788 points and the banks regain share (UBI +1,17%). Frankfurt dropped 0,57%, but Deutsche Bank gained 0,5%, although the German authorities have since yesterday been engaged in an information-gathering operation at the bank's headquarters, in relation to Danske Bank and a scandal money laundry.
Paris -0,79%; Madrid -0,44%. Flat London -0,03%, on the day when the British parliament reopened its doors, even if the tug of war on Brexit between Prime Minister Boris Johnson and the opposition continues. The euro recovers ground against the pound and trades at 0,886. Conversely, the cross of the single currency with the dollar worsens, moving at 1,095.
Raw materials retreat. Gold falls by more than one percentage point and is worth $1518,95 an ounce. Oil, like Brent, lost 1,58% and fell to 62,08 dollars a barrel, weighed down by the data on American weekly inventories far higher than expected.
In this disturbed climate finds its way up Wall Street, thanks to the clearance on the tariff front and in anticipation of Trump's press conference at 22 pm, Italian time. The White House today released the transcript (non verbatim) of the controversial phone call between the presidents of the United States and that of Ukraine which yesterday prompted the Democrats in the House to launch an investigation into a impeachment of the American leader.
Trump on July 25 would have asked his Ukrainian counterpart, Volodymyr Zelensky, to investigate Hunter Biden, son of Joe Biden, former vice president of Obama and Democratic candidate for the next presidential elections. Trump defends his work and labels the investigation as "a disgrace". The purchases reward Philip Morris (+6,2%), after the announcement of the end of the negotiations for a merger with the Altria Group (-1,8%) which would have created a tobacco giant worth 200 billion dollars.
The change of pace of American price lists is not enough in Piazza Affari, where Juventus' bleeding does not stop -2,48%. The reductions are heavy for Recordati -2,15%; Saipem -2,09%; Amplifon -2,09%. Evil Fiat, -1,37%, in the fourth consecutive drop after the arrest of a group engineer in the US for polluting emissions from vehicles and following statements by the president of Renault who seem to rule out a return to negotiations for a merger.
Financials are mixed. Sales penalize Unicredit above all -1,16% and Unipol -1,25%. Ubi go up; Mediobanca +0,57%; Generals +0,53%; Understanding +0,23%. Well Buzzi +0,91%. Positive Telecom +0,52% and Pirelli +0,15%.
Off the main list I Grandi Viaggi rises by 8,39%, in line with the tourism sector at European level, after the bankruptcy of the British company Thomas Cook, with the market appreciating the failure of a competitor in the sector.
Bonds moved little: the yield on the Italian 0,83-year bond remains at +XNUMX%, however, the spread with the Bund improves which drops to 142 basis points (-1,14%). On the primary side, the yields for the CTZs assigned today by the Treasury fell sharply: 1,5 billion, maturity 29/06/2021 (11th tranche), yield -0,236%, down by 24 cents compared to the previous month's auction .
