European Central Bank, Knot: Possible 50 basis point rise in July rates

The European Central Bank may raise interest rates by half a percentage point in July if new inflation data shows that price pressures continue to rise. This is what Dutch Central Bank Governor Claes Knott said today in an interview with a Dutch TV channel. In recent days, Christine Lagarde, president of the European Central Bank, has indicated that a first rate hike in more than a decade is possible in July because between the end of net purchases, which are due at the end of June, and the first rate hike could pass a few weeks and the governors meeting scheduled On July 21. However, Lagarde and other members of the Board of Governors stressed that the process of cutting monetary stimulus by raising rates would be gradual so as not to stifle the recovery.

Iveco heads to Piazza Afari, Unipol seeks redemption

In the basket of the big forty in Milan, looking for salvation Unipol After two sessions in the red due to management’s desire not to proceed with the merger with Unipolsai. good industrial stockSaipemAnd CNH IndustrialAnd Stilants) and bankers (Banco Bpm, Bieber). Stmicroelectronics e Moncler Take advantage of Chinese news on technology and the possibility of reopening. gathering IVECO Group that benefit from the 2022 Daimler Truck Directive. Out FTSE MIB new exploit Saras Thanks to quarterly accounts and management forecasts on refining margins.

High yields, spread 191 points

Stock purchases are offset by sales of government bonds, with the consequent rise in yields. The Spread between BTp and Bund It contained expansion in relation to the bonds of core European countries and reached 191 basis points from 190 points recorded at the close on May 17. The return of the benchmark ten-year BTp rose sharply, hitting last place at 2.97% from 2.84% at the end of the previous day.

Euro Recovers Above $1.05, Oil Rises

In the foreign exchange market, the euro rebounded, beating the figure against the dollar to 1.0534 (from 1.0404 yesterday evening May 17): the exchange rate closed last week at its lowest level since December 2016 lower 1, 04. Euro / yen to 136.27 (from 134.34), dollar / yen to 129.35 (from 129.11). Oil prices rose moderately: Brent crude in July was trading at $115.12 a barrel (+0.77%), and WTI for June at $114.83 (+0.55%). Natural gas rose 2.6% in Europe at 95.3 euros per megawatt-hour. The price of gasoline futures rose above $4 a gallon for the first time with retail prices also recorded in the US: “It should be remembered – say Mps Capital Services analysts – that at the end of the month the driving season will begin in the country, with the consequent potential boost to demand on fuel (which is actually already starting to boost) ».