Milan on the rise, bankers are doing well

2020-06-29T16:23:32.197Z

Business and consumer confidence indices improve and investors appreciate. It was a decidedly positive session for the European stock exchanges. Milan, pink jersey, gained 1.69%, London closed at + 1.08%, Frankfurt + 1.18% and Paris + 0.73%. The rating agency Fitch estimates that in 2020 the Italian GDP will contract by 9.5% and then rebound by 4.4% in 2021 and reach 2.1% in 2022. Bank stocks are doing very well in Piazza Affari: Banco Bpm rising by almost six points, Unicredit and Mediobanca by four and a half points. The banking sector was also affected by the reduction in the spread between the Italian BTP and the German Bund, reduced to 176 basis points, with the yield at 1.29%. On Wall Street the Dow Jones runs faster at + 1.73%, while the Nasdaq at + 0.75% reflects the uncertainties of the beginning of the session of the Facebook and Twitter titles, ballasted by the flight of advertisers who accuse social media of not doing enough against post racists.