Today’s Stock Exchanges, June 30th. Inflation slows down in Europe, positive lists. Piazza Affari at its highest level since 2008
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MILAN – Positive start for the European stock exchanges after a significant upward revision of US first quarter GDP growth which removed the risks of recession but strengthened expectations of further monetary tightening by the Federal Reserve. The indices are also comforted by data from inflation in the Eurozone, which has fallen
Contrasted performance in Asia, with positive Chinese lists and Tokyo which closed at -0.14%.
The European stock markets close positive
The European stock markets closed positive, supported by the cooling of inflation in the Eurozone and by the slower than expected of the PCE index in the United States. In particular, Frankfurt gained 1.23%, London 0.78%, Paris 1.19% and Milan 1.08%. Among the sectors most affected by purchases, the real estate, pharmaceutical and banking sectors shone with the prospect of further increases in interest rates. Energies favored by the rise in oil prices also did well.
Stable closing for the spread
Closing on unchanged levels for the spread between Btp and Bund. At the end of the session, the yield differential between the 10-year benchmark BTP (Isin it0005518128) and the German bond with the same maturity stood at 167 points, unchanged compared to the final on the eve. On the other hand, the yield of the ten-year benchmark Btp decreased slightly, which scored a last position at 4.07% from the 4.08% of the closing on the eve.
Apple hits the 3 trillion mark
Apple goes up and on Wall Street and flies to 3,000 billion dollars in market capitalization. To do the math at CNBC. Apple had exceeded the 3,000 billion intraday value in January 2022 but had not managed to maintain this level until the end of the session
Eurozone inflation slows to 5.5%
Eurozone year-on-year inflation is expected to be 5.5% in June 2023, down from 6.1% in May, according to a flash estimate from Eurostat, the European Union’s statistics office. Looking at the main components of inflation in the euro area, food, alcohol and tobacco are expected to register the highest year-on-year values in June (11.7%, compared to 12.5% in May), followed by industrial goods non-energy (5.5%, compared to 5.8% in May), services (5.4%, compared to 5.0% in May) and energy (-5.6%, compared with -1.8 % in May).
France, inflation slows to 4.5%
Consumer prices in France rose 4.5% year-on-year in June, after rising 5.1% in May. This is estimated by Insee, the French national institute of statistics. “This further decline in inflation should be due to the decrease in energy prices (linked in particular to the further year-on-year decline in oil product prices following their monthly increase lower than that recorded in June 2022) and the slowdown of the prices of food products”, explains the institute. On a monthly basis, consumer prices are expected to increase by 0.2% in June 2023, after -0.1% in May. Energy prices are expected to rebound slightly on the back of oil product prices. Prices of services should increase at a rate close to the previous month, while those of manufactured goods should remain practically stable. Food prices (excluding fresh produce) are expected to slow for the third consecutive month.
Positive start in Europe
Positive start for the European Stock Exchanges. Paris rises by 0.37% with the Cac 40 at 7,339 points. Frankfurt scores +0.27% with the Dax at 15,989 points and London +0.26% with the FTSE 100 at 7,491 points. Milan also rose, up 0.5% in early trading
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