Positive EU stock exchanges, Milan discounts maxi coupons impact

Listen to the audio version of the article

(Il Sole 24 Ore Radiocor) – The recovery of Wall Street at the end of the session on Fridaywhich allowed the S&P 500 to avoid closing in “bear” territory, and the opening of US President Joe Biden, who called a possible lifting of the tariffs imposed by the Trump administration on Chinese goods “under study”, says the lists European equities at the start of the week.
In any case, prudence continues to guide investors’ choices, in light of the impact on economic growth of China’s monetary policy tightening and “zero Covid” policy: an outbreak in Beijing raises fears of the imposition of new lockdowns in the capital and it is weighing on the performance of the People’s Republic price lists.
So they travel positively on CAC 40 of Paris, on DAX 40 in Frankfurt, the FT-SE 100 of London, theIBEX 35 of Madrid andAEX of Amsterdam. The performance of the FTSE MIBMilan, on the other hand, is discounting the “optical illusion” of the maxi coupon detachment: during the week almost 10 billion dividends are coming from 60 companies, whose shares will negotiate from today net of the coupon. Among them 19 stocks of the Ftse Mib with an impact on the main index of 1.44%.

On Milan “optical illusion” coupon detachment

Among the big names of the Ftse Mib 19 are those who deal ex coupon. The most generous check is that of General which pays its shareholders almost 1.7 billion euros, Eni e Intesa Sanpaolo instead they will stop at just over 1.5 billion euros but in both cases it is the only balance on the 2021 accounts after the deposit already distributed in the autumn. Full-bodied amount for Tenaris (330 million but always for the balance), for Inwit (About 300 million) and for A2a (more than 280 million) while outside the Ftse Mib the total coupons of Unipolsai. The companies of the Ftse Mib that pay dividends are A2a, Amplifier, AtlantiaAzimut, Banca GeneraliBper, DiasorinEni, FinecobankGeneral, Interpump GroupIntesa Sanpaolo, Inwit, Italgas, Moncler, Pirelli & C, Recordati Tenaris and Unipol. After the detachment of 23 May, the next “rich” appointment for coupons will be that of 20 June with approximately 1.65 billion euros in distribution and two protagonists, Italian post e Snam Rete Gas. In July, however, the coupon balance of Enel which will put 1.9 billion into the pockets of its shareholders.

Spread remains above 200 points, yield at 2.98%

Little moved for the spread between BTp and Bund, on the secondary market MTS of European government bonds, after ending last week with a sharp rise triggered by the rise in Eurozone bond yields. The yield differential between the benchmark ten-year BTp (Isin IT0005436693) and the same German maturity is indicated at 203 basis points from the 204 points recorded at the closing on Friday. The benchmark ten-year BTp yield, which climbed up to 3% last Friday, is moving around 2.98% from 2.99% at the previous end.

Euro regained 1.06 dollars, oil on the rise

On the foreign exchange market, the euro regained $ 1.06 and is indicated at 1.0608 from 1.0555 on Friday at the close. The single European currency is also worth 135.47 yen (134.94 on Friday), while the dollar / yen ratio is at 127.70 (127.86).
The price of oil rose, with the July future on Brent at 113.46 (+ 0.81%) and the similar contract on the WTI at 111.18 (+ 0.82%). Natural gas in Europe fell by 4.9% to 83.6 euros per megawatt hour.