MILANO – The tensions off the coast of Taiwan, with the Chinese military exercises following the visit of the speaker of the House Nancy Pelosi, do not worry the markets too much. This morning the European stock exchanges start again in positive territory. Milano it rose by 0.32%, Frankfurt by 0.3% and Paris by 0.16%. Alone London lags behind and declines by 0.16%. Asia is also holding, with Chinese markets not very moving and Tokyo closing at + 0.69%.
Timestrali always in the spotlight, with Credit Agricole which recorded a profit of 2.8 billion in the first six months. In Milan to follow the banks, starting with Banco Bpm which released the accounts yesterday with the stock market closed, and Tim. On the energy front, oil did not move much with Brent at 96.77 dollars. The price of gas drops by 4% to 191 euros per mwh.
Flat euro on the dollar
The euro opens flat against the dollar, with the exchange rate at 1.0158. The European common currency gained against the yen, with the exchange rate at 136.33, up 0.24%, while it was in parity with the British pound at 0.8364. The dollar / yen exchange rate instead is in favor of the greenback at 134.18 with a growth of 0.26%.
The spread opens down
Start without major shocks for the spread between 10-year BTPs and German Bunds: the differential opened at 211 basis points compared to 213 at yesterday’s closing. The yield on the Treasury product is 2.97%.
Germany, slight drop in orders to industry
New orders in the manufacturing sector in Germany in June 2022 are down by 0.4% on the previous month, by -9% compared to the same month last year. This was reported by Destatis, the German Federal Statistical Office.