Btp-Bund spread below 105 points, but diesel costs more from today

The FTSE Mib closed up 0.64%, at 51,145 points, in the October 6 session. The most significant figure of the day, however, concerns the Btp-Bund spread, which narrowed below 105 points, with the ten-year Btp yield falling below 4.55%, signaling an easing on Italian government bonds.

On the currency and commodity markets, the euro rose above $1.125, gold touched close to $4,200 and silver returned above $61.5.

On the opposite front, that of costs for households and businesses, the day brings news of a different sign. At midnight between October 5 and 6 the tax discount on diesel expired, and there is no record of the Mase-Mef interministerial decree being published in the Official Gazette, which was supposed to activate the mobile excise duty mechanism to cushion the price increase. The excise duty on diesel therefore rose by 6.1 cents per liter with no compensation whatsoever.

The average price of self-service diesel on the national road network was recorded at 2.244 euros per liter, up 2 thousandths from the previous day. Self-service gasoline, not affected by the same measure, fell instead to 2.043 euros per liter, down 5 thousandths. Eni adjusted its cap on diesel, raising it from 2.19 to 2.25 euros per liter, while the cap on gasoline remains unchanged at 1.99 euros per liter.

The day’s market activity therefore tells two parallel stories: a sovereign spread on the decline, signaling growing confidence in Italian public debt, and a rising cost at the pump due to the end of a support measure that was neither renewed nor compensated in time.