For the second time in less than a month, financial markets have missed predictions on London. But, unlike what happened with Brexit, the failure to cut the discount rate by the Bank of England, taken for granted by observers this morning, did not create disasters.
The Milan Stock Exchange has returned to growth after yesterday's decline, scoring the fifth positive session out of six. The Ftse Mib index advanced by 1,6% to 16.797 points. Frankfurt +1,39%, Paris +1,16% and Madrid +0,93%.
Slightly down London -0,2%. The pound went up to 1,334 from 1,314 yesterday against the dollar, the maximum in the last two weeks. The announcement from the central bank, which says it is ready for action and postpones any new stimulus measures, even on several fronts, to August has helped to contain the disappointment over Mark Carney's move. The decision was voted by a large majority, 8 members against 1.
Overseas the race on Wall Street has resumed, setting new records. The Dow Jones has updated its all-time high again at 18.537,57 points and is now up 0,83%. The same goes for the S&P 500 which hit a record high at 2.168,99 and rises by 0,67%. The Nasdaq Composite also performed well, up 0,71%.
The quarterly performance of JpMorgan Chase & Co. did well (+2,63%) which closed the second quarter with profits higher than expected, despite low interest rates.
Oil prices are recovering: Brent +2,4% to 47 dollars. Yesterday it lost 4,5%. Eni +1,8% and Saipem +0,77%, Tenaris +1,18%.
The Italian banks are galloping again. The "jockey", this time, has the appearance of Wolfgang Schaeuble: the German Finance Minister believes that any intervention capable of securing the system will certainly comply with EU rules.
Lead the race Unicredit up 6,6%. Citigroup raised its recommendation to Buy from the previous Neutral. The target price is 3,15 euros, up from the previous 2,40 euros. Intesa Sanpaolo +2,1%, Ubi +5,3%, Banco Popolare +5,5% and B. Pop also performed well. Emilia-Romagna +4,2%. Monte Paschi's comeback continues +4,2%.
Among industrialists, both Leonardo +2,03% and Fiat Chrysler +2,97% advanced. Sharp fall of Rcs Mediagroup (-4,7%) on the eve of the delivery of the securities to Consob.
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