Bags, today 16 May | Cautious rise in Milan, Tim still bad: -2.87%
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After the declining opening, Piazza Affari moves cautiously up (Ftse Mib +0.4%). Purchases on semiconductor manufacturers Asm (+2.59%), Infineon (+2.32%) and Stm (+1.4%). The oil companies TotalEnergies (-0.3%), Eni (-0.25%) and Shell (-0.23%) are sluggish, while BP is gaining ground (+0.34%). In the telephone field, Vodafone was weak (-2.9%) after the quarterly report, while Tim (-2.87%) reduced the initial drop following Bloomberg’s indiscretion on a possible renunciation of the Cdp offer for the fixed network. Weak car companies Volkswagen (-1.16%) and Mercedes (-0.7%), bankers Credit Agricole (+0.96%), Barcalys (+0.72%), Unicredit (+0.2%) thwarted ) and Banco Bpm (-0.54%). Agreement unchanged. Here, the performance of the Stock Exchanges in real time.
The spread
After a positive start for the prices of government bonds traded on the telematic secondary Mts. Italian securities appreciate, in line with the sovereigns of the Eurozone, and the spread with the Bund narrows slightly again. After the first trades, the yield differential between the 10-year benchmark BTP (Isin IT0005518128) and the German equivalent maturity stabilized above 187 points, with the Italian annual yield down by 3.5 points to 4.144% and the German one by 3 .3 points to 2.271%. Here, the trend of the spread in real time.
The European Stock Exchanges
The main European stock markets are moving cautiously up after a weak start. Madrid (+0.44%) was the best followed by Milan (Ftse Mib +0.4%), London (+0.35%), Frankfurt (+0.3%) and Paris +0.15%). All eyes are on the Zew indices from Germany and on unemployment and the quarterly GDP of the Eurozone, after disappointing data in the United Kingdom, while in Italy inflation has grown less than estimated. Retail sales, industrial production, inventories and API advances on crude oil stocks are arriving from the USA. Speeches by ECB president Christine Lagarde and some members of the Fed’s Fomc are also on the calendar.
Dollar and crude oil
The dollar strengthens to 92 euros and 0.802 pounds, while the yen recovers ground to 135.89 against the dollar and the Turkish lira remains weak at 21.4 against the euro and 19.7 against the dollar. Crude oil (WTI +0.2% to 71.24 dollars a barrel) is on the rise, while gold (-0.25% to 2,009 dollars an ounce) and natural gas (-1.03%) remain weak at 31.97 euros per MWh).
Asian Stock Exchanges
The main stock exchanges in Asia and the Pacific moved in no particular order, with Tokyo (+0.76%) at its highest level since 1990. Taiwan also rose (+1.28%), while Seoul was sluggish (-0.14%) and Sydney (-0.36%). Still open Hong Kong (+0.05%), Shanghai (-0.4%), which discounts macroeconomic data worse than estimated, Mumbai (-0.2%) and Singapore (-0.02%).
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