Weak Ftse Mib, spread at 100bps

The session closed under the banner of caution for European stock exchanges in a session inevitably conditioned by the meeting of the European Central Bank and the update on US inflation. The institute headed by Christine Lagarde confirmed the cost of borrowing. the decidedly accommodative stance and raised the view on Euroland growth, now seen in the current year at 4.6%, against the 4% estimated in March. In the case of the US data, in May the annual increase in consumer prices stood at 5%, + 0.8% compared to the previous survey and higher since 2008. On a monthly basis, indications higher than the estimates have arrived both from the complete data (+ 0.6%), and from the “core” one (+0.7%). On the Piazza Affari list, where the Ftse Mib finished in the red by 0.4% at 25,638.19 points , sales of Prysmian (-1.95%), CNH Industrial (-2.13%) and Stellantis (-1.35%) stand out. The investigation into Peugeot by the French authorities has penalized the latter. On the positive side we find STMicroelectronics (+ 1.73%), Eni (+ 0.67%) and UniCredit (+ 0.32%). The shares of the institute led by Andrea Orcel capitalized on the promotion to “outperform” arrived by the analysts of Credit Suisse with a target price of 12.5 euros. On the set stands out the -5.06% of Sanlorenzo after the holding of the Perotti family has placed 3% of the capital. The reassurances from Frankfurt brought the BTP-Bund spread down by more than 2% to 100 basis points. After the 7.5 billion Bots awarded yesterday, today the Ministry of Economy put 3, 7 and 20-year BTPs on the market. The first recorded a yield down by 16 cents to -0.22%, in the case of the second there was a contraction of 23c to 0.46% and for the one maturing in 2041 the yield was 1.55% . (In collaboration with money.it).