Waiting for the Fed European stocks catch their breath after five days of decline. The easing of tensions has been favored by the opening of positive Asian markets this morning and then was supported on the performance moderately rising Wall Street.
The banks in recovery at the Milan push the FTSE Eb rising 1.49%. London rises 0.73%, 1% Paris and Frankfurt 0.92%.
Continue anyway fly you quality that brought the German bund to ten placed at auction this morning for 3259000000 euro to record a dell0 0.015 yield down from 0.14% at the auction of May (yesterday purchases on the secondary had instead pushed for the first time, the ten-year yields below zero).
BTP-bund spread is always moving at around 150 basis points to 1.49% yield. Today, however, is Spain touching a record low: the Spanish public debt rose in the first quarter to 100.5% of GDP, a 20-year record.
On the front macroeconomic Europe Eurostat’s first estimate of exports of the euro area in the rest of the world in April showed a drop del’1% compared to April 2015 increased from 173.9 billion to 172.3 billion. Imports fell by 5%, from 153 billion to 144.8 billion. Consequently, the surplus in trade in goods was $ 27.5 billion compared to 20.9 billion a year earlier. The intra eurozone rose to 142.8 billion, up 1% compared to April 2015.
Some good macro data, as producer prices and manufacturing, support Wall Street waiting of the Fed’s words this evening at 20.30. The markets expect a stalemate on rates, standing by, waiting for the Referendum on Brexit, but are hoping for indications about future moves of the Central Bank by the President Yellen.
The Empire State index, which measures the performance of manufacturing activity in the New York, it jumped to +6.01 points in June compared to -9.02 points in May beating expectations of very firm to a rise in -4punti. Above the estimates also the prices to the May production rising by 0.4%. It does not seem to worry the markets the data on industrial production dropped by 0.4% in May, more than the forecast in the wake of the slowdown in the auto sector (-4.2%).
Finally, the oil recovered from the lows of the day but still closed down both the Brent WTI is: stocks fell by 933,000 units to 531,543,000, while analysts expected a decline of 2.1 million barrels
in Milan bounce banks : + 7.10% Banco popular best title, BPM + 5.66%. Highlights Leonardo + 3.93% after the order of 4 billion euro in Qatar. According to an anticipation of the Sole 24 Ore, tomorrow will be signed pre-agreement with which Fincantieri has won an order worth 4 billion Euros for the supply of five military ships. The ‘half of the value will go to Leonardo Finmeccanica to supply missiles and radar systems.
Also in evidence Ferragamo and Moncler + 3.81% + 3.01% while part Pitti and fashion shows.
RCS + 0.95% which benefits the possible arrival of a Chinese partner to the Cairo side for a raise. It was argued by The Messenger, would be checking the possibility to support Urbano Cairo in climbing to the publishing group Via Solferino there’s Wanda Group, a Chinese group active in different sectors (hotels, real estate tourism and sport). In Italy Wanda is also known for two other reasons: through Infront handles the football TV rights and is also included among the subjects of the Asian consortium that is negotiating the purchase of Milan.
Meanwhile, the Board of Directors of RCS convene, refers Radiocor, by next Friday a meeting on the ‘fairness opinion’ on the takeover bid launched by International Media Holding – the new company that groups Investindustrial, Diego Della Valle, Mediobanca, Pirelli / ChemChina and UnipolSai
the bottom of the Ftse Mib Soul -2.07%, -1.13% UnipolSai, Mediaset -0.45% and -0.34% and A2A Bper -0.32%
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