Bags today July 6 | Negative Milan: Mfe down after Berlusconi’s will
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The European stock exchanges open down, in the wake of the Asian ones. Investors are concerned about the possible further rate hikes by the Federal Reserve, as emerged from the minutes of the last meeting. In Piazza Affari, the Ftse Mib is almost entirely in the red, while Mfe shares are also down after the opening of Silvio Berlusconi’s will. Eyes on US employment: monthly data will be released on July 7, while numbers on the private sector and jobless claims are expected today, July 6.
European stock exchanges and spreads
Down Paris (-1.3%), Milan (-1.2%), London (-0.9%), Madrid (-0.8%) and Frankfurt (-0.7%), the latter after the growing data of new orders from the industry. The spread between Btp and German Bund opens slightly down to 160 basis points, against 170 on the eve (here the spread in real time). The yield on the ten-year Italian bond settles at 4.21%.
Mfe down in Piazza Affari
The Milan Stock Exchange (-0.8%) continues to decline, weighed down by the negative performance of the banks. Stm slips in Piazza Affari (-2.6%). Among the credit institutions, Mps (-1.3%), Bper and Banco Bpm (-1.1%), Intesa (-1%) and Unicredit (-0.7%) are down. The automotive sector was also down with Pirelli (-1.6%), Cnh (-1.5%), Iveco (-1.2%) and Stellantis (-0.7%). Utilities also down: down A2a (-0.9%), Enel (-0.2%) and Erg (-0.6%) (here the share performance). Even the shares of the Berlusconi family are down after the reading of the will of the Knight. The Mfe B shares, with the highest number of voting rights, dropped by 0.9% to 0.72 euro, while Mfe A fell by 1.6% to 0.53 euro. Mondadori was also down, dropping 0.5% to 2.14 euros.
Asian bags in red
The Asian stock markets close sharply down, after the Fed’s minutes. Uncertainty about China’s growth weighs heavily, awaiting new and more significant economic stimuli. Tokyo decreased (-1.7%). With negotiations still in progress, Hong Kong continues heavy (-2.8%). Shanghai (-0.5%), Shenzhen (-0.3%) and Seoul (-0.8%) were also bad. Only Mumbai was positive (+0.4%).
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