Stock exchanges 10 July: Btp Futura closes at 6 bln, Fitch rating agency could review its opinion on Italy

MILANO – European stock exchanges close positively, also taking advantage of the acceleration of Wall Street which after an uncertain start seems to put aside fears for the increase in Covid infections. Investors on the Old Continent seem to be looking with interest at new stimuli and in particular at developments in the Recovery Fund European. London salt of 0.8%, Frankfurt 1.1% e Paris by 0.9%. Milano manages to earn 1.34% with Atlantia bouncing on the hope of an agreement with the government on motorway concessions, facilitated by the willingness of the Benettons to cede control of Autostrade per l’Italia.

The Stock Exchange Tokyo it closed down for fear that the increase in infections in the US could derail the recovery. The Nikkei index lost 1.06% at 22,290.81 points. Wall Street deals with improvement after the worrying record of new coronavirus cases (63,200) registered in the USA; shortly before the opening of the negotiations, biotech Gilead sciences reported that Remdesivir (an antiviral drug) would significantly reduce the mortality risk for Covid’s patients: the news pushed Gilead’s title. Today, from a macroeconomic point of view, saw the publication of the figure on June producer prices, which in the United States decreased by 0.2%, as opposed to the + 0.4% expected by analysts. At the close of the European markets, the Dow Jones manages to strengthen at + 0.7%, the S & P500 gains 0.3% and the Nasdaq is unchanged.

While the treasure closes the issue of Btp Futura just over 6 billion, the rating agency Fitch could proceed with the review of the judgment on Italy. The expectation of Unicredit analysts, in consideration of the fact that on April 28 the agency cut the Italian report card to BBB- (only one step above the garbage level) by bringing itself in line with Moody’s, is that for today it will not intervene again. Meanwhile in theBot auction annual, the MEF sold 7.5 billion shares, seeing the yield return to negative -0.124%. Good demand stood at 11.125 billion, with a supply / demand ratio of 1.48.

The spread between the yields of the ten-year BTP and the German Bund counterpart closed stable at 170 points, after a temporary rise, while the yield remains at 1.22%. From the macro front, Istat has reported a rebound beyond expectations of Italian industrial production in May.

The Petroleum, after a downturn, it turned positive: the WTI expiring in August rose by 1.26% to $ 40.12, while September Brent grew by 1.35% to $ 42.9 a barrel. On the currency market, theeuro it strengthens and changes hands at 1.1315 dollars (1.1263 at start and 1.1297 yesterday) and 120.809 Yen (120.35 at the opening and 121.17 yesterday), when the green ticket is worth 106.77 yen.

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