MILAN – The European markets closed in the red in the wake of Wall Street after the gains of the day before, driven by the moves of Alexis Tsipras that is trying to reach agreement between Greece and international partners. The effect is seen rather with the distension of spreads, including the Italian one, after the slight enlargement of the past days. The decision to reshuffle the team of negotiators with Brussel Group (where there are members of the former Troika) by giving more weight to the Deputy Minister of Finance, Yannis Dragasakis , it seemed to the most classic promoveatur ut amoveatur Yanis Varoufakis, the holder of the public accounts that formally coordinates the group negotiations, but in fact comes from the alternation weakened.
A move that serves to put aside the element ‘destabilizing’ the Government of SYRIZA, who with his charisma and his ideas had angered European counterparts last Eurogroup. The same Tsipras, who created a direct channel with Angela Merkel with a phone call at the weekend, in an interview he gave to some of Monday night the will of the Chancellor to carry through the agreement, for the good of Athens and of ‘Europe. But if the conditions are too harsh for the Greeks, there will be a referendum. From Brussels, a poravoce Commission said that the contacts between creditors and the Greek authorities “have intensified and have allowed us to make new progress.”
The latest developments have led to the equity rally in Athens and the descent of the three-year Greek bond spreads of nearly 400 points on Monday, to 22.3%. Today, European markets choose the path of caution and get worse with the weakness of trading in the United States: Milan Stock closed down 1.15%, Paris gives the ’1.81%, London 1.03% and Frankfurt 1.89%. Weak Wall Street , weighed down by macro data and the yellow of the kidnapping of a US cargo from Iran. The denial of the news from officials of Defense, however, lists shooting: when in Europe ending the trading day, the Dow Jones advancing by 0.2%, the S & amp; P 500 by 0.1%, while the Nasdaq is unchanged .
The yield spread between the ten-year BTP and the German Bund area stabilizes at 120 basis points, in line with the close yesterday. The ten-year Italian bond yield is 1.37%. After the new lows on yields Ctz, the Treasury collects a further drop in yields at auction: sold the Bot semiannual in October 2015 at a yield of zero, by placing all the 6.5 billion euro offered against a demand of 1.8 times.
Among the individual stocks in Milan, it still puts out Mediaset with rumors of interest from Vivendi for a possible acquisition. Saipem promoted after the accounts: for SocGen analysts now the title is to be taken.
The macroeconomic agenda records the rise of French consumer confidence : rose in April in 94 points from 93 earlier, in line with expectations. While the focus on the Italian parliamentary election law, Istat certifies the first housing market recovery after seven years of declines. Instead slows the growth of GDP in Britain in the first quarter. According to preliminary estimates, the gross domestic product grew in the first quarter of 2015 by 0.3% from the previous quarter (when it had grown by 0.6%) and 2.4% on a yearly basis (compared to +3 % in the fourth quarter of 2014). The figure is lower than expected which estimated a + 0.5% and + 2.6% cyclical trend.
In the US, the Case-Shiller index on home prices show an increase of 0.5 % in February on a monthly basis and 5% on an annual basis. Disappoint the data on consumer confidence fell more than expected to 95.2 points, while the Richmond Fed manufacturing index improved to -3 points in April. Continue the quarterly, with Ford among others, after Apple has published accounts with revenues and profits up. The wait for the Fed also determines the stalemate on the currency market, with the ‘ € in strengthening: the single currency closes rising markedly above $ 1.09.
Closing in growth, in the morning, for the Tokyo Stock Exchange , under the pressure of the performance of the industrial robot maker Fanuc and expectation of the meetings of the Fed and BOJ. The Nikkei index at the end of trade, has gained 0.38% over quota returning 20 000 points to 20,058 points. As for raw materials, the pieces of the oil are recovering: in the US, at the close of the European markets, the WTI gaining 0.4% in box 57 dollars a barrel, the Brent salt of 0, 2% to $ 65. Also dates the ‘ Gold , which adds 0.7% to $ 1,212 an ounce.
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