A mixed session for the European stock exchanges, with the Ftse Mib of Milan closing down by 0.6% at 26,867 points.
Interpump (-6.45%), Iveco (-5.7%), Cnh (-5%) and Pirelli (-4.6%) fell in particular. As regards the latter, the Italian government is apparently studying a plan to limit the access of the Chinese shareholder Sinochem to strategic technologies.
Instead, the utilities Snam (+2.7%), Terna (+2.3%), Hera (+2.2%) and A2A (+2.1%) advanced in the wake of the decline in bond yields.
The Btp-Bund spread narrows to 182 basis points, with the Italian 10-year bond down by 9 bp to 4.01%. The US two-year rate dropped sharply to 3.7%, while the ten-year rate dropped to 3.28%.
On Wall Street the declines prevailed, after the worsening of the ISM services index, while the ADP data on the labor market was lower than expected (145,000 payrolls in the private sector), awaiting Friday’s job report. Furthermore, the tensions on the banking sector return, with Western Alliance under pressure (-17%) after the lack of updates on the balance of deposits.
On Forex, euro/dollar down but still above 1.09 while among raw materials oil trades little, with Brent at 84.8 dollars a barrel, after the reduction in US inventories by 3.7 million barrels .