Piazza Affari takes a break. After a series of eight consecutive sessions on the rise, the Ftse Mib today scores -0.06% to 25.809 points thus retracing from the top since 2008. Today the spotlight is on the German Zew which has gone beyond expectations. Worse than expected, however, German industrial production. On the Covid emergency front, some negative signals are coming from across the Channel with the new coronavirus cases doubled in 10 days fueled by the Indian variant (delta). Thus some fears emerged that the day of the reopening of the United Kingdom (scheduled for 21 June) could be postponed.
Looking at today’s day in Piazza Affari, among the big names stands out the negative day of all the banks, major players in the positive in recent days. Unicredit (-1.07%) led the declines after having pushed beyond 11 euros at the start. Intesa Sanpaolo (-1.03) and Banco BPM (-0.55%) were also bad. A weakness dictated by some profit taking from the recent rally and also by the movement of government bonds with the 10-year Treasury yield falling to 1.513%, the lowest level since last March. Rates in Europe also fell with the 10-year BTP rate falling below 0.9%.
Fluctuating day for the oil sector which recovered at the end in the wake of the rise in oil prices. Eni thus closes at + 0.4%. Yesterday the giant of the six-legged dog placed its first sustainability-linked bond. A one billion euro issue that attracted strong demand (6 times the quantity offered). Bond duration of 7 years pays an annual coupon of 0.375% which will remain unchanged until maturity upon the achievement of the sustainability objectives relating to Net Carbon Footprint Upstream (Scope 1 and 2) and installed capacity for the production of electricity from renewable sources .
Among asset management securities, Fineco made little move (-0.28%) which reported a positive net inflow of € 734 million in May. On the other hand, Banca Mediolanum is running with + 1.92% after the commercial results of May. In detail, the Basiglio group closed the month of May with total group net inflows of +842 million euro, disbursements of mortgages and loans for 352 million, and collection of protection policies for 14.4 million.
CNH Industrial (+ 1.18%) is also among the best of the day today, updating the historical tops beyond the 15 euro wall. Nexi (+ 1.86% at € 16.95) and Diasorin (+ 0.95%) also did very well.