MILANO – The government crisis continues to dictate the mood a Business Square. The Ftse Mib this morning starts again with a slight decline, after the resignation of Prime Minister Mario Draghi rejected by the head of state Sergio Mattarella, and then rises again to 0.95%. After an uphill start, the spread falls: the differential is positioned at 213 points with the yield of the ten-year BTP at 3.29%. Contrasting the other European lists with the many unknowns that still weigh on the markets, from the slowdown in China in the second quarter due to the restrictive measures linked to the “zero Covid” policy, to fears of a stronger squeeze of central banks to counteract the growth of ‘inflation. London rises by 0.12%, Frankfurt by 0.14% and Paris falls by 0.1%.
In Asia Tokyo it closed at + 0.54%, supported by the decline in the yen to the advantage of the sector of exporting companies.
On the energy front, opening down for the gas natural on the square in Amsterdam. Futures contracts for the month of August yield 1.16% to 173 euros per MWh. IN recovery the Petroleum: Brent, with a gain of 1%, is back just above 100 dollars a barrel, while the American WTI, with a rise of 0.6%, is at 96.36 dollars.
Equita: “Financial and cyclical stocks most exposed to government crises”
“The tensions and uncertainties on the political front entail downside risks on growth and on the financial front. In this scenario, we believe that stocks with greater international diversification and a solid financial structure are to be preferred (Diasorin, Moncler, Campari, Reply), with inflation protection (Inwit, Terna, Enav), while financial and cyclical securities are those most exposed in the negative “. This is the comment of Equita sim analysts on the risks for financial markets deriving from the government crisis
Mediobanca, Horta-Osório nominated advisor
Mediobanca has appointed António Horta-Osório Senior Advisor with effect from 1 August. Horta-Osório, until last January president of Credit Suisse, will support the implementation of the Piazzetta Cuccia strategy by collaborating with the Co-Heads of Corporate & Investment Banking, Francisco Bachiller and Giuseppe Baldelli, in expanding customer relations and business throughout Europe.