Toned session for Piazza Affari, with the Ftse Mib at the top of the Old Continent’s stock markets. The Milanese index closes up 1% at 32,018 points, with Iveco (+5%), Mediobanca (+4.2%), Bper (+3.9%) and Mps (+3.1%) in evidence.
As for the Sienese bank, there are rumors about the sale by the State (major shareholder with a 39% stake) of another stake held in the capital after the move last November. Iveco instead benefits from the Bank of America promotion. Nexi (-1%) and Telecom Italia (-0.7%) retreated.
Wall Street is slightly down, awaiting tonight’s key events: the publication (at 8pm Italian time) of the minutes of the latest Fed meeting and Nvidia’s quarterly report, due out with the markets closed. Tomorrow, however, attention will shift to the ECB minutes and the PMI indices of the main economies.
The publication of the ECB survey on 1-3 year inflation expectations and the speech by Isabel Schnabel, member of the Eurotower Governing Council, are also expected this week.
On bonds, the BTP-Bund spread is close to 150 bp, with the yield on the Italian 10-year bond rising to 3.94% and that of the Bund to 2.45%.
Among raw materials, Brent oil appreciates in the area of 82.7 dollars per barrel, with the focus always on tensions in the Middle East and their impact on supply, in a context of still unstable demand. On Forex, the euro/dollar exchange rate holds above 1.08 and the dollar/yen fluctuates around 150 yen per dollar.