Rain of sales on Italian banks and Milan stops in the red, -0,83%, 18.884 points, while Brussels invites the country to do more for the sector. Piazza Affari is experiencing a negative day, in a contrasting European context, albeit comforted by macro data, including the preliminary estimate of inflation on an annual basis at +1,8%: Madrid -0,87%; Paris, +0,16%; Frankfurt +0,28%; London +0,39%. Wall Street opens negative, but the Dow tries to recover in the middle of the session and reaches a new intraday record. The main Milanese price list, on the other hand, travels all day in the red, even below the percentage point, recovering only partially in the final. The same does the spread between the ten-year Italian and German, which at times flares up to break through the threshold of 200 anointed, then reduces the gap up to 192.60 basis points (+2,12%), 2,22% the yield.
Attitudes on bonds changed above all towards the French paper, following the news of François Bayrou's withdrawal from the race for the Elysée. For Italy, in the morning, however, confirmation of the EU ultimatum on public finances arrives: if the government does not "credibly" implement the measures for the correction "of at least 0,2% of GDP" within the month of April, the Commission will consider that the debt rule has not been respected. The euro-dollar ratio remained practically unchanged. Brent fell, -1,68%, 55,71 dollars a barrel.
Some profit taking on oil and industrials weighs on the Ftse Mib, but the heaviest blow comes from the banks. In this regard, the European Commission, in its report on macroeconomic imbalances, states that "confidence in the Italian banking sector has dropped despite various measures taken by the government" and "the sector continues to be vulnerable to shocks".
Banco Bpm -4,24% went down, followed by Bper -3,82, Mediobanca -3,36%; Unicredit -2,07%; Ubi -2,06%; Understanding -1,02%. The negative momentum continues for asset management securities, with Banca Mediolanum, -3,19% and Azimut, -2,94%. Outside the segment, Saipem -3,46%, Eni -1,51%, Exor -1,12%, Buzzi -1,15%, Telecom -1,36 closed with a negative result.
The best of the list is again Stm +2,84%, in the wake of the upgrade by Barclays analysts from equalweight to overweight, with a target price of 16,5 euros. Well Cnh +0,73%, Luxottica +0,72%, Ferragamo, +0,75%. Out of the main basket we note Fincantieri, +4,57%, which signed a binding Memorandum of Agreement with Carnival and China State Shipbuilding for the construction of two cruise ships and another four under option. An agreement worth 1,5 billion dollars for the first two ships.
The triumphal march of Sintesi continues, +12,71%, which since 2017 January 1.389,05 has achieved an overall increase of XNUMX%.
