July 3, 2022

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Stock markets are slowing, and the European Central Bank is ready to raise interest rates in July. Milan cuts the effect of Maxi coupons

(Il Sole 24 Ore Radiocor) – The European stock exchanges The pace has slowed, while concerns about the potential impact of monetary policy tightening on economic growth are back in focus. European Central Bank President Christine Lagarde confirmed that Eurotower may raise interest rates in July. “Based on current expectations – we will likely be able to exit negative rates by the end of the third quarter,” he added.
Thus, it reduces profits CAC 40 Paris, dated DAX 40 in Frankfurt FT-SE 100 London, andIBEX 35 Madrid andAEX Amsterdam. performance FTSE MIBMilan, on the other hand, excludes the “optical illusion” of separating the maxi coupon: during the week nearly 10 billion dividends come from 60 companies, the shares of which will trade as of today net coupon. Among them, 19 shares of Ftse Mib with an impact on the main index of 1.44%. As futures contracts on Wall Street rose, After recovery in the final Friday session It allowed the S&P 500 to avoid closing in the “bear” territory.

In the first part of the stock exchanges, support came from the opening of US President Joe Biden, who outlined a possible hike in tariffs imposed by the Trump administration on Chinese goods “under consideration”, according to European stock markets in the first session. of the week. In any case, prudence continues to guide investors’ choices, given the impact of China’s monetary tightening and “zero-Covid” policy on economic growth: the outbreak in Beijing is raising and weighing on fears of new lockdowns being imposed in the capital. Concerning the performance of the price lists of the People’s Republic.

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On the separation of the Milan coupon “optical illusion”

Among the big names of Ftse Mib 19 are those who Ex voucher deal. The most generous choice is from public which pays its shareholders approximately 1.7 billion euros, where are you And Intesa San Paulo Instead, they will stop at just over 1.5 billion euros, but either way this will be the only balance in the 2021 accounts after the deposit was already distributed in the fall. full body amount for Tenaris (330 million but always for the balance), for inside (about 300 million) and for A2a (more than 280 million) while outside Ftse Mib total coupons Unipolsai. Ftse Mib companies that pay dividends are A2a, ampliphoneAnd AtlantiaAzimut, Banka GeneralPepper, DiasurinEni Finecobankpublic, Interpump GroupIntesa San Paulo insideAnd italgasAnd MonclerAnd Pirelli and Cand Recordati Tenaris and Unipol. After the separation on May 23, the next “rich” date for the vouchers will be the date of June 20 with a distribution of approximately 1.65 billion euros and two parties, Italian Post And Sanam retight gas. In July, however, the coupon balance In the Which will put 1.9 billion in the pockets of its shareholders.

Spread still above 200 pips, yield at 2.98%

Little moved for the spread between BTp and Bund, in the MTS secondary market for European government bonds, after ending last week with a sharp rally triggered by higher Eurozone bond yields. The yield differential between the ten-year BTp benchmark (Isin IT0005436693) and the same German maturity is indicated at 203 basis points from the 204 points recorded at Friday’s close. The 10-year benchmark BTp yield, which rose to 3% last Friday, is moving around 2.98% from 2.99% at the previous end.

The euro regained $1.06 and oil was on the rise

In the foreign exchange market, the euro reclaimed $1.06 and was referenced at 1.0608 from 1.0555 on Friday at the close. The single European currency is valued at 135.47 yen (134.94 on Friday), while the dollar/yen ratio is at 127.70 (127.86).
The price of oil is up, with the July future for Brent crude at 113.46 (+0.81%) and the equivalent contract on WTI at 111.18 (+0.82%). Natural gas in Europe fell 4.9% to 83.6 euros per megawatt-hour.