MILANO – The European stock exchanges closed positive, after the data on US jobs in June showed no signs of slowing. Milano ends gaining 1%, in Frankfurt the Dax marks + 1.34%, the Cac 40 in Paris + 0.44% while London rises by 0.10%. On the Asian market, in Tokyo, after the attack on former Prime Minister Shinzo Abe, the Nikkei 225 recorded a collapse in earnings, closing on parity at + 0.10%.
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USA, in June 372 thousand places, beyond the estimates
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Banks, ECB alarm on climate: “Losses up to 70 billion without immediate response”
The spread closes down at 199 points
Closing down slightly to 199 basis points for the spread between BTP and German Bund, with the yield of the Italian ten-year at 3.28% on the secondary market.
Mps closes with a strong rebound in Piazza Affari
Mps rebounds on the stock market: the stock, strong throughout the session, closed with an increase of 11.7% at 0.53 euros, after having reached a new all-time low of 0.45 in recent days. This week the CEO Luigi Lovaglio met the investors, departing from Milan to fly also to London, to convince them of the credibility of his plan, while today the discussion with the unions has begun. The bank, which capitalizes under 500 million, will face a 2.5 billion increase and cut its employees by nearly 20% by the end of the year.
Oil is growing in New York
Oil is on the rise in New York, where prices are up 1.34% to 104.08 dollars a barrel.
USA, in June 372 thousand places, beyond the estimates
The US economy created 372,000 jobs in June, more than expected. The unemployment rate remained stable at 3.6%. The government reports.
Banks, ECB alarm on climate: “Losses up to 70 billion without immediate response”
European banks could experience total credit and market losses of around € 70 billion due to financial and economic shocks resulting from climate risks if they are not addressed in an orderly manner in the short term. This is the estimate made as part of the first stress tests on climate risk conducted by the ECB in the period January-July 2022. In particular, the aggregate estimate concerns 41 European banks that have made forecasts on the impacts of extreme environmental events and under transition scenarios to the green with different time horizons. The forecast, reports the ECB, however reflects only a fraction of the current risk given the scarcity of data currently available, the ability of the models used to capture climatic factors only in a rudimentary way, the exclusion of economic slowdown scenarios and the fact that the exposures considered in this exercise represent only one third of the banks’ exposures considered. The results, highlights the ECB, show that an orderly green transition by lenders will lead to lower credit losses than an unordered or passive approach.
Opening down for the spread
The spread between BTP and Bund opens down to 193 basis points, compared to 198 points at yesterday’s closing. The yield on the Italian 10-year declined as well, falling to 3.21% compared to 3.29% on the eve of the year.
Chinese stock exchanges in negative
The Chinese stock exchanges closed the session slightly down: the Shanghai Composite index dropped 0.25%, to 3,356.08 points, while that of Shenzhen lost 0.35%, slipping to 2,219.90 points.