The differential between the BTP and the Bund is back below 200 points, scoring 199.1 at around 2 pm, compared to 205.5 points at the previous day’s closing. He had surpassed 200 points since May 6. The yield on the Italian 10-year fell to 3.020%, compared to 3.22% at the previous day’s close.
Bitcoin still falling. The cryptocurrency lost 3.1% to $ 29,992, dropping below $ 30,000 for the first time since July 2021. Bitcoin has lost more than 55% since its peak last November.
The main European stock exchanges remain up in the middle of the session, albeit slightly slowing, and futures contracts on Wall Street are positive, while the US Chamber moves towards approving new loans to send weapons to Ukraine and the president, Joe Biden , will meet the Italian Prime Minister, Mario Draghi, in the aftermath of a session where the S&P 500 also fell towards the “bear market”, down 20% from last January’s record. The price of gold rises (+ 0.25%) to 1,863 dollars an ounce and in Europe, on the 76th day of the war in Ukraine, the best square is Milan (+ 1.2%), followed by Frankfurt (+ 1.1%), while in Germany, the Zew index in May was above expectations, improving compared to April, Madrid (+ 0.9%) Paris (+ 0.5%) and London (+ 0.4%). The BTP Bund spread dropped to 200 points, with the Italian ten-year yield at 3.024%. The decline is accentuated by crude oil (wti -1%) to 102.5 dollars a barrel and brent to 104.7 dollars. The price of natural gas is down, with futures in Amsterdam (-2.56%) at 91.5 euros per MWh. The Old Continent area index, Stoxx 600, gained 0.9%, driven by finance. Strong banks, with examples such as Unicredit (+ 5.6%), Bper (+ 9.3%), the day after the accounts, and Banco Bilbao (+ 4.1%), and exceptions such as Kbc (-9, 1%). Earnings in air transport and logistics, with examples such as Deutsche Post (+ 3.8%) and Royal Mail (+ 2.3%). Cars are doing well, starting with Volvo (+ 2.6%) and Mercedes (+ 1.8%). Many oil companies are in the red, such as Equinor (-3.7%), Repsol (-2.4%) and Saipem (-6.9%), the 2 billion euro capital increase announced by the summer.
Further drop for gas on the square in Amsterdam. Futures contracts as of June 2022 yield 1.9% to 92 euros per MWh. A price very close to the 87.58 euros of last February 23 and which marks the minimum after the 91.23 euros of last February 25, the day after the start of the attack by Russia in Ukraine, when gas jumped to 129.92 euro per MWh. Since then, natural gas prices have reached a low of 93 euros on 25 April.
The festivities for the victory of the Second World War in Russia continue today, with the consequent closure of the Moscow Stock Exchange. The ruble rose to 69.51 against the dollar, while it appears stable against the euro, with an exchange rate of 73.38 against the single currency.
–
