MARKET
Milan , June 1, 2015 – 10:05
European shares start rising after a difficult week marked by concerns about Greece. Waiting to see if Athens and its creditors fail to reach an agreement on reforms, lists earn about half a percent, led by Paris (+ 0.7%) and queued Milan (+ 0.48%) and then, mid-morning, he braked to fall back on a more flat 0.2%. The spread between BTP and Bund fact has jumped over 140 basis points, to 145, with the yield on 10-year Treasury rising to 1.93%, while the rate of the Bund is down to 0.49% after PMI index data and waiting for news on Greece.
The index pmi
The figure expected manufacturing index for May for the euro area was “slightly below the previous forecast but noted that the producers of the area are experiencing the best moment of the year growth. ” The weakness of the index is centered in the core of the region, with the manufacturing sector still in decline in France and Germany rose slightly. On the other hand, Spain and Italy seem a strong recovery, and according to data in particular are benefiting from export very positive indicating improved competitiveness. The PMI manufacturing Italy jumped to 54.8 in May from 53.8 in April, the highest level since April 2011. The figure – detected by Adaci and Markit Economics – exceeds market expectations for an increase in 53.6. The index for the fourth consecutive month above the 50 mark, dividing threshold between expansion and contraction cycle.
Athens
By Friday meanwhile Athens It must repay 300 million euro to the Fund, the first tranche of a month that accounts for 1.6 billion on Greek banks. “It’s still possible that Greece and its creditors reach agreement within the week,” said the EU Commissioner Guenter Oettinger, said Die Welt . “We need to progress to level working group, to be able to agree on an agenda of reforms, perhaps even by the end of the week, which could begin the payment of the last tranche of aid from the current program” has He said. They felt for telephone German Chancellor, Angela Merkel, French President, Francois Hollande, and the greek prime minister, Alexis Tsipras. A phone call that took place in a “constructive,” said the German government spokesman, Steffen Seibert, during a press conference, without giving further details. Seibert also said that Greece will not be a central topic of discussion in the meeting scheduled on Monday evening between Merkel, Hollande and the President of the European Commission, Jena-Claude Juncker. “I do not mean that Greece will not be discussed on the sidelines, but will not be the main theme,” said Seibert. According to Economy Minister Pier Carlo Padoan however the agreement between Greece and international institutions is always possible and is supported by the ongoing negotiations. “There are ongoing contacts at both technical and political level. I still think that there will be an agreement, “said Padoan.
1 June 2015 | 10:05
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