Piazza Affari cautious today awaiting the monetary policy decision that will be announced tonight by the Federal Reserve and to be followed by the press conference of Governor Jerome Powell. Strong expectations to know if the Fed will start to change its tone a bit after the new inflation rush (+ 5% yoy in May). Many market participants believe that the Fed will wait for August or September to announce the reduction of its purchases, the so-called tapering. According to a CNBC survey, as many as 89% of economists believe QE is no longer necessary to support the US economy.
The Ftse Mib index thus closed up at 25,767.54 points (+ 0.12%). Among the securities in the main basket, the asset management securities are highlighted, with Banca Generali (+ 2.4%) and Fineco (+ 2.3%) in the forefront.
Enel (+ 1.7%), which is the most important share in the entire Piazza Affari, gave impetus to the entire Milanese stock market today. Today, Barclays analysts indicated Italy as one of the favorite markets in Europe with Enel, together with Stm, Unipol, Banca Mediolanum and Telecom Italia, in the circle of stocks with upside potential of over 20 percent.
Among the utilities in Piazza Affari, progress of more than 1% for Italgas, Hera, Snam and Terna.
Among the big names of the Ftse Mib, a colorless day for the banks. Unicredit was the worst (-2%), followed by Intesa Sanpaolo (-1.5%) and Bper (-1.3%). In general, all EU banks performed poorly today: Meanwhile, yesterday Andrea Enria, president of the ECB Banking Supervisory Council, said that the central institution will meet on July 23 to decide on the possible removal of restrictions on the distribution of dividends and purchases of own shares by the banks.
Among the minus signs also Atlantia (-0.8%) recovered from the rally on the eve following the announcement of the intention to distribute dividends for 600 million euros in 2022 and start a buyback.