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The announcement via Twitter of the President of the European Council Donald Tusk has arrived in correspondence with the opening of markets: “The Eurosummit reached unanimously an agreement “to prevent the release of the Greece from the euro. It ‘just the first step, since the launch of the third aid program is subject to approval by Wednesday a package of harsh reforms imposed by creditors. But that was enough for the European stock markets would close all the session in positive, dodging the splash expected if the ‘ Eurosummit had gone to empty approaching the Grexit . And so the lists have consolidated the recovery started at the end of last week, with the pink jersey in Paris + 1.98% and the Milan Stock Exchange which gained 1 percent.
Reaching a common understanding “unanimous”, though at a very high price for the government of Alexis Tsipras , has had a positive impact on the trend of bonds of the other countries of southern Europe . The interest rate on the BTP ten Italian fell after the news, to 2.11%, against 2.38% a week ago. Consequently, the differential (spread) than the yield of the Bund Germans, who in the wake of uncertainty at the beginning had come to 131 basis points from 124 on Friday, fell to end the day at 125 points. E ‘decreased to 124 points, however, the spread between the Bonos Spanish ten-year bonds and the German, who on July 7 had reached 170 points.
In the morning the Italian Treasury has located BTP 3, 7, 15 and 30 years with rates all down: the average yield of three-year fell to 0.48% from 0.5% in June, one of the seven years to ’1.6% from 1.76% a month ago, that of 15 years at 2.63% to 2.77% and that of 30 years at 3.24% from 3.36%. But stocks were sold for 7340000000 against the total of 7.5 offered at auction.
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