Borsa Italiana, the comment of today’s meeting (10 June 2020)


Traders are awaiting the Fed's monetary policy guidelines. Bankers are recovering after the correction suffered yesterday: IntesaSanpaolo and UniCredit are doing well  </p><div>

            <! - <EdIndex> -><p><img style="float: left;" src="" alt="Market-positivo_2" width="200" />The major indices of Borsa Italiana and the main European financial markets<strong> they started the session in positive territory</strong>: operators are waiting for <strong>monetary policy guidelines from the Fed </strong>which will be broadcast at 20.00, Italian time. According to IntesaSanpaolo analysts, the US central bank should ferry monetary policy to a stabilization phase, after the emergency one dictated by the liquidity crisis caused by the pandemic. "With the reopening of the economy and the beginning of a recovery that may be long and tiring, the Fed will shift the emphasis to the future scenario and the management of expectations," said the experts.

At 09.20 the FTSEMib recorded an increase of 0.96% to 20.121 points, while the FTSE Italia All Share it gained 0.92%. Plus sign also for the FTSE Italia Mid Cap (+ 0.89%) and for the FTSE Italia Star (+ 0.77%).

Uncertainty day for i major US stock indices. The Dow Jones posted a 1.09% drop to 27,272 points, while the S & P500 lost 0.78% to 3,207 points. In fractional rise, however, the Nasdaq (+ 0.29% at 9,954 points), after setting the new historical high at 10,003 points.

Quiet sitting for the Tokyo Stock Exchange. The Nikkei index recorded a minimal increase of 0.15% to 23.125 points.

L’EUR stood at over $ 1,135, while the bitcoin is confirmed between 9,500 and 10,000 dollars (over 8,500 euros).

The Btp-Bund spread it went up to 180 points.

Bankers are recovering after the correction suffered in the session of 9 June. Il Sole24Ore has reported some statements by Andrea Enria, head of ECB-SSM supervision, that banks will be able to return to distribute dividends if there is not a second wave of coronavirus infections and the economy begins to give solid signs of recovery.

Intesa Sanpaolo started the day with a rise of 1.81%. According to the Corriere della Sera and the Reuters agency, the competition and market authority expressed some concerns about the OPS launched by the institute led by Carlo Messina on UBI Banca (+ 2.13%). The authority does not exclude that the integration between the two banks could lead to a strengthening of IntesaSanpaolo’s dominant position, despite the agreement signed with BPER Bank (+ 1.56%) for the sale of some businesses.

Good start for UniCredit (+ 1.05%). The institute announced that it had completed the issuance of the first Senior Preferred bond from the Funding Plan 2020. The security, with a maturity of 6 years and callable after 5 years, was issued for an amount equal to 1.25 billion euro, with an issue price of 99.563%. The spread initially indicated equal to the reference mid swap rate increased by 185 basis points was revised downwards, reaching the final level of 160 basis points.

Negative day start for Trevi Group (-9%) after the strong volatility recorded in the last sessions.

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