(ANSA) – MILAN, MAY 30 – The main European stock exchanges continue positive at mid-day, except for Madrid (-0.2%), penalized by the May inflation data. The index of the economic vision of the euro area is stable (+ 0.1%). Among the stock exchanges, London loses its shine (+ 0.03%), while Paris (+ 0.7%), Frankfurt (+ 0.6%) and Milan (+ 0.4%) are in better shape, where the spread Btp-Bund is at 196.5 points and the Italian ten-year yield at 3.019%. The price of gold fell slightly (-0.2%) to 1,854 dollars an ounce. The euro continues to rise against the dollar, trading at 1.077 against the greenback.
With the US stock market closed for Memorial Day, German inflation is expected to accelerate among the macroeconomic data. The summit of EU leaders on Ukraine will open in Brussels: the sixth package of sanctions against Russia, extended to oil, will be the focal point.
The area index of the Old Continent, Stoxx 600, gains almost 0.5%. Luxury shines, starting with Richemont (+ 4.6%) and Hermes (+ 4.3%) and Lvmh (+ 3.3%). According to analysts, they benefit from the easing of restrictions against Covid in China. Strong semiconductors, such as Asm (+ 4.8%), in the wake of technology in Asia. Cars did well, from Renault (+ 2.5%) to Stellantis (+ 1.8%). Many banks are positive, from Ing (+ 2.4%) to Kbc (+ 1.9%), with exceptions such as Credit Agricole (-8%), reported to “neutral” by Goldman Sachs, and Hsbc (-0, 8%) and Lloyds (-0.2%). Lagging behind was energy, with oil in no particular order, which saw decreases for some stocks, such as Repsol (-1.9%) and Shell (-1.2%) and some increases, as for Tenaris’s plant engineering (+ 0.8%) and Aker (+ 0.7%), with crude oil increasing (wti + 0.7%) to 115.8 dollars a barrel and brent at 120.1 dollars.
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Source: Ansa
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