The German crisis weighs on the opening of a retreat to Piazza Affari



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<p>  A stock market in negative territory is expected for the European stock markets: the future on the Dax is down 55 points and the one on the Ftse 100 of 47 points Horst Seehofer wants to give up the presidency of the party and the leadership of the German Interior Ministry Seehofer would be ready to resign after Chancellor Angela Merkel ruled out immediate rejection of migrants at the border. agreement reached at the Brussels European Council on Immigration is insufficient, the Minister of the Interior attacked, while the leader of the Mexican left, Andres Manuel Lopez Obrador, imposed himself as the winner of the elections and is the new president of the country. </p>
<p>  Manufacturing PMI of Italy, France, Germany, G Brittany and the Eurozone, the euro area unemployment rate and the ISM US manufacturing index and construction costs </p>
<p>  In Milan pay attention to Recordati <span clbad= after the transfer of the majority stake in Cvc for a review of about 3 billion euros, implying a price of 28 euros per share. Value at which the next mandatory Opa will start (now the title is greater than 34 euros). Focus also on Bper after, through a series of purchases on the market, Unipol has finished buying the 25 million Bper titles that allow it to reach 15.06% of the Emilia Institute

Meanwhile, Unicredit has completed the transfer of pledged loans in Italy to Dorotheum auction house. According to the same agreements, according to a note, Unicredit will continue to provide the policy renewal service in its branches. The transaction in the third quarter will have a positive impact of more than 100 million euros on the consolidated income statement and nearly 4 basis points on the group Ce1 ratio.

The euro opens the week on the European money markets. The single currency stepped up against the greenback at $ 1,144 (it had finished trading on Friday at $ 1,688) and it's reversed in the exchange rate with the yen at 128.9. Meanwhile, the dollar rally continues. The Wsj Dollar Index, which compares the greenback with sixteen other currencies, gained 5.1% between April and June and is now approaching this year's highs. Behind the US currency, there are market expectations, investors waiting for the Federal Reserve to accelerate the tightening of monetary policy and raise interest rates in response to a solid expansion of the US dollar. US economy.

With regard to government securities, the 10-year Treasury yield was 2.47% Friday vs. 2.84% Thursday. The cost of financing 10-year US government bonds closed the second quarter up (it was 2.741% at the end of March). According to Fed futures, the probability that the Fed will raise interest rates twice a year this year is 46%.

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