MILANO – Ore 15. European stock exchanges are proceeding weak despite the good PMI services data released in the morning. In Italy, the indicator that photographs the trend and expectations for the tertiary sector – through interviews with the purchasing managers of the companies – rose to 53.1 points from 47.3 in April, exceeding the expectations of a rise to 52 points. The data for France, Germany and the Eurozone as a whole are also positive: in May the final reading of the index stood at 55.2 against 55.1 in the past reading and consensus Bloomberg.
The EU indices are also continuing to decline despite the good data coming from the US occupation, with weekly requests for subsidies dropped to 385,000 units, compared to the expected 387,000, recording the best data since the beginning of the pandemic. In addition, according to the ADP report, the US economy created 978,000 jobs in the private sector in May, a figure much higher than the expected 650,000.
waiting for more encouraging signs from the US occupation, with the ADP report and the new subsidies released in the afternoon. Milano moves just below par (-0.06%) in the middle of the day, London loses 1.05% Frankfurt yields 0.7% e Paris 0.56%. The Asian markets were positive in the wake of the good closing on Wall Street, with Tokyo ending trading at + 0.39%. Today, however, US trade should open lower judging by the futures.
Among the other macro data of the day, the Confindustria Study Center reports an acceleration in industrial production, up 0.3% and 0.4% respectively in April and May after the slowdown in March. In general, the mood of entrepreneurs is positive, with the confidence index rising in May to its highest levels since the autumn of 2017.
From the Monetary Fund comes a slight upward correction of the growth estimates for our country. In 2021, according to the Washington institution, GDP should rebound by about 4.3%, up by a tenth of a point compared to the latest forecast in the World Eocnomic Outlook.
Among the currencies theeuro it remained below $ 1.22, down by 0.16%. “The euro moved again as a reflection of the dollar, remaining in the range 1.21-1.22 EurUsd – underline the experts of the Intesa Sanpaolo research office -. Inflation data showed an increase slightly higher than expected. but also for the euro area, as for the USA, the interpretation that still prevails is that it is a transitory increase. So the change in fact has not been impacted “. The spread between BTP and Bund remains stable with fluctuations of 107 basis points. The yield on the 10-year Treasury bond is 0.88%.
On the other hand, among raw materials, the prices of Petroleum. The barrel of crude for July delivery is trading at $ 69.28 with an increase of 0.65%. Brent with delivery in August changes hands at $ 71.85 with a growth of 0.70%.