MILAN - Cautious restart for the European stock exchanges with the European indices waiting to see the reaction of Wall Street to the agreement reached last weekend in the United States on raising the debt ceiling, after the US financial center was closed yesterday for Memorial Day. Awaiting the formal approval of the agreement, expected by 5 June, the this morning they move cautiously. In no particular order was Asia, with Tokyo closing at +0.3%.
European stock markets open weak
European stock markets open weak and cautious. The Paris Cac 40 index dropped 0.60% to 7,260.28 points, the Frankfurt Dax 30 recorded +0.05% to 5,960.85 points and the London FTSE 100 lost 0.32% to 7,602.60 points. In Piazza Affari, the Ftse Mib index dropped 0.18%.
Gas still down
Opening session down slightly for TTF gas futures for June, traded at the Amsterdam hub at 24.35 euros per megawatt hour. In the first trades of the day, the drop in quotations was equal to 0.86%. The price of futures for July was instead equal to 24.8 euros per megawatt hour, down by 0.7%, while that of futures for August was equal to 26.22 euros per megawatt hour, down by 1.07%.
The spread opens slightly moved
A tension-free start for the spread between BTPs and Bunds, with the yield differential between Italian and German ten-year government bonds decreasing by less than one basis point, to 183. The yield on our ten-year bonds was also stable at 4.267%.
Euro down at the start
The euro fell in early morning against the dollar. The single currency lost 0.21% to 1.0686 dollars. The ratio with the yen, on the other hand, remained practically unchanged at 150.4.