by Fabrizio Patti

Milan 10 June 2021 Today negative opening for European markets, in particular for the Ftse Mib index in Milan, down 0.50%.

In the rest of Europe, London + 0.03%, Frankfurt -0.35%, London -0.23%. 

The Italian stock exchange index is weighed down by the -2.26% of Stellantis.

As reported by the Radiocor agency, it was announced late yesterday that Peugeot, wholly owned by Stellantis, has been placed "en examen" by the Judicial Court of Paris on charges of fraud to consumers regarding the sale of diesel vehicles in France. Euro 5 between 2009 and 2015. The investigation, which began in 2016 and 2017, also involved Renault and Volkswagen in France. 

Among the other stocks on the Ftse Mib, greater rises for StMicroelectronics and Nexi, greater falls for Banco Bpm and Cnh Industrial. 

Investors await the inflation data in the United States at 2.30pm Italian time. In April it had risen more than expected, + 4.2% compared to a year earlier. The average forecasts by analysts are for a rise in May of 4.7%. 

The data is important because if the US central bank were to be convinced that these are not temporary but lasting increases, it could reduce purchases of current securities and raise interest rates in the medium term. This would have effects on the cost of mortgages and on the speed of GDP growth. 

Yesterday limited drops for the Wall Street indices, today the Asian indices rose, with the exception of Hong Kong (-0.21%) also because during the night there was a resumption of dialogue between the United States and China, with a phone call between the trade ministers of the two countries. 

The price of oil is still high: yesterday it peaked at 72.2 dollars a barrel for Brent, after the data on inventories in the United States, today a slight drop to 71.6 dollars, with a value in any case close to the maximum since April 2019.