Weak start for Europe. Atlantia takes off in Piazza Affari, pax with the government seems closer

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Servicemarket day

Volatile price lists between hopes of recovery and fears of new contagions from Covid. In Milan, eyes on the Benetton holding while the agreement with Palazzo Chigi on motorway concessions is at the final stages. Spread down to 165 points

by Enrico Miele and Chiara di Cristofaro

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Piazza degli Affari in Milan

Volatile price lists between hopes of recovery and fears of new contagions from Covid. In Milan, eyes on the Benetton holding while the agreement with Palazzo Chigi on motorway concessions is at the final stages. Spread down to 165 points

3 ‘of reading

Starting with the minus sign for the European stock exchanges, with the optimistic background tone of the last sessions held back by the increase in contagions in the world, in particular the USA and Latin America. In the first few bars of bargaining, the lists appear weak, while the Nasdaq in the session of 23 June updated new historical highs, the S & P500 that fell back on the final was less brilliant: the situation in the United States, in fact, continues to worry even with the reopening, while The Texas Governor’s appeal to stay home after the infection record has arrived. On the other hand, however, in the past few hours the US Treasury Secretary Steven Mnuchin said that the administration is “seriously considering” another package of fiscal stimuli to be approved in July and Trump has confirmed that the details will arrive in the next two weeks . And this after having already reassured investors about the keeping of trade agreements with China (following the doubts raised by Trump’s adviser Peter Navarro that had frightened the markets). On the macro front in Europe, after the good indicators of the SMEs, the German Ifo index is on the way, while Germany has decided to lockdown in the slaughterhouse area where a Covid-19 outbreak has broken out.

Atlantia, FCA and banks at the top of Piazza Affari

On the Milan stock, still eyes focused on Atlantia at the top of the list while the agreement with the Government on concessions seems to be at the final stages. The banks are also in tune while the purchases are still rewarding the FCA group. Luxury at the bottom of the list with Moncler. The pharmaceutical sector is also weak with Recordati and Diasorin.

Spread with Bund slightly down to 165 points

Fractional start due to the spread between BTp and Bund on the secondary market Mts of government bonds. The yield differential between the ten-year benchmark BTp and the Bund of the same duration opens the session at 165 basis points from the 167 points of yesterday’s closing. The yield of the 10-year benchmark BTp was stable at 1.27%.

Dollar remains weak, oil “floats” on parity

On the currency, the dollar remains weak and the euro shares 1.1319 on the greenback. Oil rose slightly, with the WTI in August trading at $ 40.4 (+ 0.07%) while the Brent equal maturity is at $ 42.77 (+ 0.33%).

Tokyo closes flat with the yen rising

Flat closing for the Tokyo Stock Exchange in a session without a clear direction, divided between the good performance of the western squares and Wall Street and the rise in the yen, while concerns remain for the still high numbers of coronavirus infections. At the end of the exchanges, the Nikkei index of guide stocks was limited to -0.07% at 22.534,32 points and the broader Topix index lost 0.38% to 1581.15 points.



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