Oil back to $ 50 share. profit taking at the Milan Stock – The Republic

MILAN – 11:15. Back confidence in the markets, but among investors prevail taken to benefit after the start bouncing week: Milan yields 0.4%. Other European markets are close to equal: London is the same as Paris and Frankfurt recovers 0.3%. However, to support the general good humor of the experts is the recovery of the oil with Brent that for the first time in almost seven months has exceeded the psychological threshold of $ 50 in the wake of the drop top than expected weekly US stocks. The WTI Light crude futures rose to $ 49.75, while Brent futures are on the threshold of $ 50 after a top at $ 50.13, the highest since last November 4th. US stocks fell by 4.2 million barrels, largely because of the Canadian production block, which is the largest US manufacturer. Also yesterday the central bank of Canada has said that the fires in the Alberta oil sands area will have an impact on public finances of the country. In the background, however, it remains the crux of the excessive supply on the markets, on which the OPEC countries do not intend to intervene. Since January, when it touched the lowest level in 12 years, the price has almost doubled.

In addition to the crude oil markets have grossed the agreement between Greece and its creditors and exactly one week from the freeze came from the Federal Reserve, which with the minutes of the April meeting had said to assume a rate hike already in June, the stock begin to be comfortable with the idea of ​​an increase in the cost of money. The general impression is that close, maybe only 25 basis points as last December, would represent a vote of confidence in the economy in stars and stripes. Yesterday the chances of a rate hike in June, as they are measured by future federal funds, were 36% versus 34% for seven days before and 4% earlier this month.

A Square business is pressure on bank stocks with sales on the Banco Popular, Ubi Bank, BPER and BPM. Worse Unicredit struggling with the choice of the new chief executive. In trouble even the Italian Post Office to which the Treasury will place another 30%.

‘ € back on its feet but remains below $ 1.12, while the greenback suffers outlets benefit of investors, after growing up in the wake of strengthened expectations Use of a rate hike in June. The European currency is changing hands at $ 1.117 and 122.85 yen. stable trend for the spread between Bund and BTP: the yield difference marks share 121 points against the 120 of yesterday’s close. On the secondary market the Italian-year bond is trading at a 1.36% rate. The Treasury sold the maximum amount, 2.5 billion euro, of Ctz March 2018 at auction today. The yield fell to -0.137%, from -0.063% last March 24.

In the morning, the Tokyo Stock Exchange ended the session little move (+0.09 %) weighed down by the new appreciation of the yen as investors await the inflation data tomorrow in Japan. The Nikkei share index closed at 16.772.46 points. Last night, however, for the second session in a row indexes Wall Street have closed higher, supported by energy and financial stocks. The Dow Jones gained 0.82%, the S & amp; P 500 rose 0.7% as the Nasdaq. L ‘ Gold is on the rise in the markets: the metal for immediate delivery rooms by 0.8% to $ 1,234 an ounce. A push stock prices, according to analysts, is the pause in the appreciation of the dollar.

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