MILAN – Milan ended the session up by 2.83%, Paris 1.57%, Frankfurt 1.33% and London yields 0.03%. At the close of European stock exchanges, Wall Street marks two firsts: the index of 30 blue chip was first brought on the record level it was finished the session of May 19, 2015, when it had touched 18,312, 39 points. Then he also surpassed the record “intraday”, reached during the trading day on the same day and amounted to 18,351.36 share. The Dow has therefore reduced slightly the gains and the closure of the EU market rises to + 0.5%, while the Nasdaq and the S & amp; P500, which yesterday had updated new records, adding 0.6%. In the morning, the new economy fiscal stimulus pledged by Japanese Prime Minister Shinzo Abe has pushed the Tokyo Stock Exchange to a two days of gains that has not been seen since last February and European markets follow the path of the rise after a cautious start.
in terms of fixed income, continues the decline of spread between BTP and German Bund, which had experienced a brief flare in the aftermath of the referendum on Brexit is 132 points and the yield on Italian ten-year, 1.2%, is always close to the lows seen in March 2015. it also benefits from the Treasury, which sold all the 6.5 billion euro of annual Bot July 2017 at auction today, compared with a demand for more than 10 billion. The yield fell to -0.176%, down five cents from the auction of the previous month and a new record low.
Investors’ attention remains focused on the segment of the bank yesterday by the EU have emerged important openings the Italian plan to shore up the most burdened institutions suffering without fully taking the bail-in, or the involvement of retail investors and depositors to absorb losses before you can extend government aid to banks resolution. Minister Padoan, Ecofin today came back to ensure the robustness of the system, while Dijsselbloem called for a solution by October. RCS also has a hot title, with the two opposing Offers Urbano Cairo and Andrea Bonomi holding court: the Publisher’s Board of Directors has judged adequate both proposals, however, giving more emphasis to the “major opportunities” offered by Bonomi. Unicredit is instead in the spotlight for the start of the new license plate Mustier strategy and the moves on the resignations. The bank has lost 10% of Fineco grossing 328 million euro.
From the real economy we note the slight acceleration of inflation in Germany in June the consumer price index recorded an increase of 0.1% in line with estimates. On-year inflation accelerated to a rate of 0.3% slightly above estimates (+ 0.2%). The Bank of Italy has also surveyed the new growth of bad debts in the area 200 billion euro in May. According to the OECD, unemployment in May fell 0.1 of a percent to 6.3% with a decrease of 1.8 percentage points from the peak reached in January 20013. From the Bank ‘ England , governor Mark Carney defended the role of the central bank in front of the Brexit risk and stressed Parliament that the decline of the pound could help the economy to remain in the water line in the face of uncertainties dictated exit by the EU.
the US macroeconomic calendar keeps track of the decline in the expectations of wholesale inventories in the US: + 0.1%, while analysts expected an increase of 0.2% . James Bullard, the St. Louis Fed, said that for the US there is no risk of recession and the IMF confirmed that the economy is in good health, despite having slightly filed down the growth estimates. L ‘ € closed steady at $ 1.1082 a session not very rich in ideas. The yen, meanwhile, moves back further to 104.43 share on the greenback and 115.07 on the common currency. Continued slow but steady recovery of the pound, advancing to $ 1.3177.
As mentioned, in the morning the Tokyo Stock Exchange continued the recovery phase thanks to record close exchanges in the US and expectations of a new stimulus plan in Japan, following the victory of the ruling coalition in the Senate. The Nikkei index surged 2.46%, gaining 386 points to 16.095.65 share. According to analysts, the value of the measures that the Japanese Government will make available to stimulate the economy could reach 1,000 billion yen, the equivalent of 87 billion euro.
The price of the oil is on the rise: the closure of the EU market is a $ 46 WTI and Brent to 47.6. The markets are waiting for the monthly report of OPEC and, more in general seem more favorable for risk appetite. Quotes of the ‘ Gold fold after touching in trading yesterday 1.375.34 dollars when ends the European trade, the metal spot is $ 1,340 in the area.
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