The European squares open the week with a limited rise, after aoctave that closed between lights and shadows, already looking at US quarterly, which will start on Tuesday 13 July with the big credit companies (starting with JpMorgan and Goldman Sachs), but also to the indications received from the president of the ECB Lagarde on Frankfurt’s intention to provide the new guidance on monetary stimuli at the meeting on 22 July. Only London is in the red, while Piazza Affari goes up trying to keep the FTSE MIB above 25 thousand points. Weak the CAC 40 of Paris, on DAX 30 in Frankfurt, theIBEX 35 of Madrid andAEX in Amsterdam.
ECB, Lagarde: July 22 revision of “forward guidance”
ECB President Christine Lagarde – speaking to Bloomberg TV – turned on the spotlight for the ECB meeting in July, scheduled for 22, defining the appointment as “important” and the bearer of “some interesting changes”. Lagarde indicated that the central bank is preparing to unveil the new guidance on monetary policy (“forward guidance”), underlining that the new measures will be adopted from 2022 in parallel with the progressive provision of the Pepp, the anti-pandemic purchasing program.
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In Milan, sales on banks, Amplifon redeems itself
Sales on banks (Banco Bpm, Banca Pop Er, Unicredit the most penalized) and oil (Saipem, Tenaris). Stands out Amplifon seeking redemption after Friday’s knockout (-6.4%) following the Biden Administration’s willingness to pursue a drop in the prices of hearing aids in the United States: this morning the Italian group announced a new acquisition in Australia where it will take over Bay Audio. Other stocks in the healthcare sector also performed well, as did asset management.
BTp, spread stable at 105 points
Stable it spread between BTp and Bund. The yield differential between the ten-year Italian benchmark (IT0005436693) and the same German duration is indicated at 105 basis points, the same level as the previous closing. The yield of the Italian 10-year period stands at 0.77%, compared to 0.76% on the eve.
