Milan Stock Exchange opened down slightly – Milano Finanza

After days of strong gains on the Milan he is leading the consolidation, with the FTSE MIB and FTSE All-Share which have opened both in 0.2% decrease and then increase the flex slightly moving around a decline of 0, 5%. The slight downward trend is also shared by other European markets, with Paris and Frankfurt which show the same determination to achieve after days of rises on bets of a Brexit increasingly remote.

The reflection of the break squares of the Old Continent during the day will be tested by the German ZEW index is published, which measures the morale of investors, and in the afternoon from the hearing of the number one of the Federal Reserve, Janet Yellen, before the banking Affairs Committee of the Senate. For the experts “the key issues will be: forecasting the recovery continued, but with different characteristics from previous cycles; uncertainty about the medium-term scenario, making it less reliable estimate of the end point rate; resulting in total dependence on the data , which will lead to a monetary policy that follows the evolution of the scenario instead of trying to anticipate it as in the past. ” In terms of rate trends, Yellen, according to experts, “it should be emphasized that the central forecast is for gradual increases, punctuated by the data, but are subject to great uncertainty both in the short and medium-long term”.

Mostly the shares of banks, with MPS who leads the declines (-1%), followed by Unicredit (-0.8%) on which part of the uncertainty is related to the appointment of the next CEO instead of Federico Ghizzoni. In sharp drop also Mediaset after the news of MF-MilanoFinanza that the subsidiary Mediaset Premium will have to recapitalize and rebuild the capital losses. The pay TV would need 140 million and the market penalizes the title by pushing it below 2%.

A few titles on the rise including Saipem , which according to the press would be finalizing the last details for a ‘bond issue that could be up to 1.5 billion in a single solution, and Telecom Italy .

on the exchange rate front, the euro-sterling exchange remains in 0.7705 area (yesterday 0.7702) after the recovery movement yesterday the currency across the Channel. Salt, and not the dollar, against the euro changed hands at 1.1334 ($ 1.1317 yesterday). The spread between the Bund and BTP instead stood at 137 points.