European stock exchanges mostly closed higher, including Piazza Affari with the Ftse Mib up 0.9% to 27,410 points. Among the blue chips, money on Prysmian (+3.1%) and Stm (+3.1%), followed by Moncler (+2%) and Iveco Group (+1.9%). On the other hand, Telecom Italia decreased (-1.8%) after receiving two new offers for the network which will be examined on 19 and 22 June. Saipem (-1.4%) and MPS (-1.3%) were also weak.
Off the main list, a volatile day for the securities of the Fininvest galaxy, on the day of Silvio Berlusconi’s death.
Meanwhile, Wall Street travels above par with Tesla on its twelfth consecutive day of buying. Anticipation is growing for the Fed meeting, which will meet tomorrow and announce its interest rate decision on Wednesday. Expectations favor a pause in the restrictive cycle in June and possibly further tightening in July.
The meeting will be preceded by US consumer price data due tomorrow. On Thursday, however, the ECB will meet, from which another increase in the cost of money of 25 basis points is expected.
On bonds, the Btp-Bund spread contracted significantly to 166 basis points, with the Italian 10-year down to 4.04%. Among commodities, oil (Brent) fell below 73 dollars a barrel, held back in part by fears for Chinese demand and an increase in Russian supply. On Forex, the euro/dollar remains substantially unchanged at 1.075 while the pound retreats to 1.25 dollars after the recent rises.