(ANSA) – MILAN, JULY 22 – Moderate rise for the main European stock exchanges at the mid-session target, with the tension on government bonds falling due to the TPI, the ‘anti-spread shield’ announced yesterday by the president of the ECB Christine Lagarde. Milan and Frankfurt earn about 0.3%, Paris and London 0.25% and Madrid 0.15%. Having absorbed the backlash of the morning on the occasion of lower than estimated PMI indices, investors are looking overseas, with positive futures only on the Dow Jones and US PMI indices expected after the start of the stock exchanges.
The differential between German 10-year BTPs and Bunds (229.2 points) remains below 230 basis points, moreover higher than the similar Greek indicator (219.8 points) and about 100 points above those of Portugal (116.3 points) and Spain (123.6 points). The yields of all government bonds fell from 18.2 points lower than the French ones, with a yield of 1.62%, to 18% lower than the Italian ones (yield 3.339%).
The purchases are concentrated on the real estate sector, considered as a safe haven asset in times of market turbulence. The German Vonovia (+ 5.67%), the Swedish Fastighets (+ 5.96%) and the French fund Unibail-Rodamco-Westfield (+ 4.29%) run. Utilities Orsted (+ 3.1%), Edp (+ 1.66%) and Verdund (+ 1.82%) did well, while Uniper collapsed in Frankfurt (-16.19%), after the green light from Berlin to rescue package which provides for an entry of the state with 30%. The Finnish Fortum (-1.57%), the majority shareholder of the Group, also sells.
Shell oil (+ 0.02%) and BP (-0.05%), weaker Eni (-0.45%) and TotalEnergies (-0.38%), with Wti crude down by 1, 68% to 94.73 dollars a barrel and Brent by 1.42% to 102.39 dollars a barrel. Luxury runs with luxury with Moncler (+ 1.5%), Adidas (+ 2.07%) and Hermes (+ 1.35%), while Lvmh is more cautious (+ 0.6%). Microprocessor manufacturers (Asm (+ 2.32%) and Be (+ 2.1%) are holding, while banks Commerzbank (-2.98%), Hsbc (-1.55%), Bnp (-1) suffer. , 74%) and SocGen (-1.9%). In Piazza Affari, Banca Generali (+ 3.16%) and Poste (+ 2.02%), cautious Intesa (+ 0.31%), are holding back Banco Bpm and Bper (-1% both) together with Unicredit (-0.75%), while Mps runs alone (+ 1.64%). (ANSA).
Source: Ansa
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