EU exchanges in search of redemption, focus in Milan on TIM. pound ignition

(Il Sole 24 Ore Radiocor) European stock exchanges are on the rise, with the market continuing to question stagnation and inflation. So, purchases are back, on a day packed with macro data and appointments with central banks. In Europe, the expected data on industrial orders in Germany in May was disappointing (+0.2% vs expectations + 0.4%), pay attention to the minutes of the meeting European Central Bank Which will be released in the middle of the day. Fears that the gas crisis could cause a sharp and rapid deterioration of the economy. This could push the European Central Bank, unlike the Federal Reserve, to Reduce price increases which he was planning to do. In July, it is supposed to raise it by 25 basis points, and the market has put aside the hypothesis that it could shrink by 50 basis points. It should also raise interest rates in September.

From the United States of America, after the minutes of the last meeting of feed it Confirming expectations of a July interest rate hike from 50 to 75 basis points and zero tolerance for inflation for the US central bank, eyes are turning to the interventions of two US central bank members, Bullard and Waller, who will remain in place. Be able to adjust the shot. Also pay attention to the data arriving noon, with unemployment benefits anticipating labor market numbers due for Friday, July 8.

In Piazza Avary, your eyes are on Tim

In the Milan stock market, attention is focused on Telecom Italia, after the meeting of the Board of Directors decided to reorganize the group and the perimeter of the network separation plan. All oils recovered, with Saipem recovering and with Tenaris pushed by Jefferies analysts who raised the rating from hold to buy and price target from €15.50 to €20. Eni also rose. Automotive purchases (operated by Iveco Group and Stellantis), banking, utilities and pharmaceuticals are lagging behind.

Spread up to 214 pips, return up to 3.31%

The spread between BTp and Bund is rising. The yield spread between the ten-year BTp benchmark (Isin IT0005436693) and the same German maturity is moving around 215 points, seven points more than the close on Wednesday, July 6th. The Italian 10-year bond yield reverses the downward trend of the past few days and returns to 3.31 percent, from 3.25 percent from the previous reference.

Oil swings, Brent crude regains $100 threshold

After two sessions of craving, he wasn’t sure which direction to take for the oil. Overnight it tries to recover from the lows, then bows out again, torn between dwindling stocks, mounting concerns about demand and a possible global recession. Brent is fluctuating around $100 per barrel (low at 98.5) while WTI is hovering below $99 per barrel (low at 96.68). in height gas price Which moves about 177 euros per megawatt-hour.

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