Spread below 200, the Renault dossier inflates the FCA title

2019-08-21T13:46:58.872Z

The differential between the ten-year Italian BTP and the German Bund has also fallen today, now it is at 199 basis points, with the yield of the BTP at 1.31 percent (-6 basis points), at its lowest level since the beginning of October 2016. The spread yesterday had opened at 208, to rise to 215 at the time of the beginning of Prime Minister Conte's speech in the Senate. Yesterday's closure had stopped at 203. It is mainly banks that benefit from this, whose benchmark index at Piazza Affari rises by 1.90%. The entire Ftse Mib index is slightly higher, + 1.97%. Today the main European markets are rising: + 1.43% for the Eurostoxx 50, the basket of the top 50 Eurozone stocks. Frankfurt + 1.42%, Paris + 1.80%, London + 1.17%. To pull Piazza Affari there is also the Automotive, a sector that is also strengthened on a continental level. Among the titles, today Fiat Chrysler stands out: +4.20 percent on rumors of a drop in Renault's participation in Nissan, a move that could make the merger between Fca and Renault easier. Pirelli also performed well, up 3.80%, and Prysmian, up 4.42%. The opening of Wall Street was also positive, with the Dow Jones and Nasdaq indexes rising slightly less than a percentage point. The climate on the markets is generally expected: in the evening the minutes of the last Fed meeting will be released, the one that decided to cut rates in the United States. Investors will try to understand what will be the moves of Governor Jerome Powell, who on Friday will speak at the informal meeting in Jackson Hole, Wyoming, organized by the Kansas City Fed and which sees central bankers and economists participating every year.