Closure on the rise for European stock lists, also supported by the positive performance of Wall Street, with the Ftse Mib up 2% to 26,575 points. Among the big names in Piazza Affari, purchases above all from Recordati (+4.8%), Unicredit (+4.6%) and Intesa Sanpaolo (+3.5%). On the other hand, Moncler (-2.3%) was down, while Inwit was weak (-0.5%).
A day full of macro data, among which consumer prices in the eurozone stand out. According to the May preliminary estimate, inflation slowed more than expected, from 7.0 to 6.1%, with the core CPI down from 5.6% to 5.3%. Numbers that will not prevent the ECB from raising interest rates again at its meeting on June 15, as reiterated by the president Christine Lagarde.
The European PMI indices on manufacturing activity showed a further deterioration in May. In the US, the ADP report on new jobs in the private sector showed an increase beyond expectations, awaiting tomorrow’s non farm payrolls, while the manufacturing ISM signaled the seventh consecutive month of contraction, settling at 46.9 points.
Meanwhile, the agreement to raise the US debt ceiling is expected in the Senate after receiving the approval of the House.
In the bond sector, Btp-Bund spread down to 182 bp after yesterday’s widening, with the Italian 10-year down to 4.07%. On Forex, the euro/dollar rose to 1.074 while among raw materials, oil (Brent) climbed back to 74.6 dollars a barrel, pending the OPEC+ meeting this weekend.
With reference to the next week, further macro data are expected on Chinese trade, eurozone GDP, European services PMIs and the US non-manufacturing ISM. Also on the calendar are meetings of the Australian central bank RBA and the Bank of Canada.