By EU ultimatum to Greece, Bags uncertain. Stable spreads – The Republic

MILAN – The stock exchanges are focused on the fate of Greece in the aftermath of the emergency meeting convened in Berlin and attended by Mario Draghi, Angela Merkel, Christine Lagarde, Francois Hollande and Jean-Claude Juncker. The feeling of the experts is that the European Union is in Athens to present an ultimatum: the Brussels group – ie the former Troika – is in fact preparing a plan for Greece which provides savings of at least 3.5 billion a year including pension reform and privatization. The proposal could be presented soon, because Athens is approaching the meeting of 5 June, the deadline for the installment of 300 million to be repaid to the IMF. E ‘likely that the payment is made to slip later this month, but meanwhile the capital flight from Greek banks increases the general alarm and the government seems Tsipras arrived last chance.

There were no, for the moment, shocks on the euro that is stable at 1,092 to the dollar (currencies), while the spread falls in area with 140 points that make the BTP 1.95%. In Milan Milan Stock is rising by 0.4% in line with other markets of the Old Continent. On the macroeconomic front the day is rather download of significant events, also because in Italy celebrates the Republic Day. Eurozone attention especially inflation, while in Germany we look at unemployment. Across the Atlantic, the United States, waiting for the ISM manufacturing index of the state of New York for the month of May and the factory orders in April (the agenda of the markets).

In the morning Tokyo Stock Exchange closed down, interrupting the series of twelve consecutive rises that led the Japanese list to new highs since 1988. At the end of a session characterized by profit taking, the ‘Nikkei index has yielded 0.13%. Last night Wall Street has filed the first session in June rising, as indeed had closed the previous month: investors found encouraging language in the ISM manufacturing in May, rose to a three- months. The report photographing the trend of the US manufacturing sector gave some optimism on the recovery of the current quarter after the downward revision of GDP for the period from January to March (-0.7%). In addition the construction expenditure jumped in April to the highest in November 2008. However, other data suggest caution: if consumer spending were unchanged in April compared to March, the savings of Americans soared with the rise in personal incomes of 0.4%. The wait is now moving to Friday with the unemployment data. The Dow Jones added 0.16%, the S & amp; P 500 gained 0.21% and the Nasdaq 0.25%.

Among the raw material prices of oil remain around $ 60 a barrel with Saudi Arabia confirmed that the failure to cut production, a position that will lead to the OPEC summit, which opens this week. WTI crude oil is trading so $ 60.2 while Brent gives 17 cents to $ 64.7. Drop below $ 1,200 an ounce prices of ‘ Gold : The metal for immediate delivery was trading at $ 1,188 an ounce, investors believe a more likely next rate increase by the Fed Use .

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