After a positive start, the Stock Exchanges are down in anticipation of the speech that Fed Chair Janet Yellen held in the afternoon (starting at 16 pm) in Jackson Hole. The index Ftse Eb lose half a percentage point. In negative ground too Paris e Frankfurt (-0,2%). Madrid -0,1%. Flat London -0,04%.
Little moved at the start bond market. The reference 1,132-year Italian rate stands at 1,129%, from 121% at yesterday's close, while the spread with the corresponding maturity of the Bund is stable at XNUMX basis points.
Il Petroleum of the North Sea, Brent, is traded at 49,2 dollars a barrel (-1%), while Wti is traded at 47 dollars a barrel (-0,4). Saipem unchanged. The company would be in pole position in the bid to carry out a series of works in Saudi Arabia. According to a specialized trade magazine, the contract for the construction of the Safaniyah field should be worth around half a billion dollars. Eni e Tenaris -0,3%.
The banks are back under pressure. Unicredit is down by 2%: no confirmations have emerged in the last few hours on the negotiation for the sale of a stake in Pekao. FinecoBank drops by 1,5%. Down too Bper (-2,2%) after the confirmation that the institute has resumed contacts for the purchase of Popolare dell'Etruria and Banca Marche. Down also the rest of the sector: Understanding -0,6% Where's Banca -2,2% Banco Popolare -3%. Mount Paschi falls by 1,7%.
Among the insurance Generali loses 0,9%, UnipolSai -1,2% Catholic -1%.
In industry, Fiat Chrysler it loses 0,4% despite rumors of a possible sale of Magneti Marelli. The vice president of the South Korean group, Jae Yong Lee, will be in Europe to participate in the board of directors of Exor on Monday 29 August and should take the opportunity to carry on the negotiations on the purchase of the Italian components group. There would still be divergence on the price and perimeter of the divested assets. This morning Banca Akros reiterated the Buy recommendation, adjusting the target price to 10,40 euros from the previous 10,10 euros. Cnh Industrial -0,8% Prysmian -1,1%.
Down Mediaset (-1,7%) while the conflict with Vivendi escalates. The French group signaled that the lack of clearance from the European Antitrust by 30 September would render the purchase contract of Mediaset Premium null and void. The French media company also announced that the first hearing of the lawsuit filed by the Italian group will be at the end of February. Mediaset immediately countered by stating that the contract provides for an irrevocable and non-modifiable commitment and that it could organize itself to obtain an anticipation of the hearing.
Descend into Luxury Brunello Cucinelli (-2,8%) following the presentation of the first semester data. Net income fell to 16,2 million euros, down 7% year on year. This morning Kepler-Cheuvreux cut the Hold da Buy recommendation, leaving the target price unchanged at 18 euros.
Campari salt by 0,6%. JP Morgan raised its rating to Neutral from Underweight, target price to 9 euros from 8 euros. Stable Goods +1,7%: Société Générale has raised its rating to Buy.
