Bags today June 8 | Europe cautious in waiting for the Fed and the ECB, Milan in parity

Contrasted opening for the main European stock exchanges, all straddling parity. Paris dropped 0.09% to 7,196 points, London gained 0.08% to 7,630 points, Frankfurt dropped 0.06% to 15,951 points and Madrid dropped 0.04% to 9,356 points. In Milan, the Ftse Mib dropped 0.07% to 27,036 points. (Here the performance of stock exchanges in real time). Investors prefer to pull the oars in the boat, pending the decisions of the central banks on monetary policy: next week both the FOMC, the operational arm of the Federal Reserve, and the governing council of the ECB will meet.

Business Square

In Piazza Affari, the Sts dropped 0.8%, after yesterday’s good performance, triggered by the news that the company has launched a $3.4 billion joint venture in China with Sanan Optoelectronics on silicon carbide devices. The banks are contrasted, with MPS losing 0.58% after the rush of the last few sessions. Eni and Enel are well positioned, both up by 0.8%. Outside the main basket, Lottomatica rises by 2.4% after the “Buy” of Equita. Opening up to 183 basis points for the spread between the Italian BTP and the German Bund, with the yield on the Italian 10-year bond at 4.30% on the secondary market. Yesterday the differential stood at 182 basis points at the close, with the yield on the Italian ten-year bond at 4.27% on the secondary market (Here the spread in real time).

Energy and currencies

On the currency side, the euro is worth 1.0788 dollars (yesterday at 1.0705 dollars) and 149.81 yen (149.71), while the dollar/yen cross is at 139.87 (139.85). After yesterday’s leap, the value of gas dropped by 1%, settling at 26 euros per megawatt hour (-0.11%). Finally, the price of crude oil rises: the July wti is equal to 72.81 dollars per barrel (+0.32%).

Asian bags

The Chinese stock markets closed the session in contrast: the Shanghai Composite index gained 0.49%, to 3,213.59 points, while that of Shenzhen lost 0.15% and stood at 1,992.33.