Piazza Affari closes euphoric (+1,26%) e back over the threshold of 21.000 points (21.071), with banks rallying in the wake of green light from Banca Intesa (+2,45%) to purchase Veneto banks, at a symbolic price, purified, inter alia, of non-performing loans. The institute headed by Carlo Messina sets precise limits for the acquisition of assets that do not affect the group's capital strength and the dividend, thus excluding capital increases. This is enough to inflame the sector which, after the bank's note, takes flight, in a weak European context and with Wall Street cautious in opening and currently contrasted: Dow Jones and S&P are fractionally down, while the Nasdaq rises. Paris loses 0,37%; Frankfurt -0,32%; London -0,33; Madrid -0,05%.
The euro-dollar relationship has not moved much. Oil, on the other hand, finds no peace, despite efforts to support it and with US weekly inventories data down more than expected. After a modest attempt to rise, Brent fell by 0,28% to 45,89 dollars a barrel; Wti -0,4% $43,34. Meanwhile, Morgan Stanley lowers its outlook for oil services, citing the increased probability of a bearish scenario that sees a possible downside of prices of 30-50 percent. Small recovery for gold: +0,22%, 1244,6735 dollars an ounce.
The positive phase of Italian paper continues: on the secondary side, the yield on 10-year BTPs falls to 1,91%, lor spread with the Bund at 164.30 basis points, -1,2%. On the Ftse Mib, in the afternoon, the race to purchase bank shares is unleashed, while news is also arriving for Mps, with the State expected to enter the capital in July, according to the president Alessandro Falciai. Today the Chamber has definitively approved the bill establishing a bicameral commission of inquiry into the Italian banking system.
Together with Intesa, Unicredit rises +3,59%; Bfor +4,49%; Bank Bpm +2,35%. The most explosive is Ubi +5,06%, on the last trading day of the option rights of the capital increase.
Positive session for the utilities with Enel which, half an hour after the close, rose by 1,6% e with a capitalization of 50,5 billion, it becomes the group with the highest market cap on the Italian list, higher than Eni (+0,51%), close to the threshold of 50 billion. In the end, the electric giant retouches further upwards and stops at +1,8%. Terna also did well +1,08% and A2 +1,33%. Different speeds for oil: Saipem +0,19%; Tenaris -0,3%.
In luxury, only Ferragamo remains in vogue, +0,87%; Moncler -2.03% and Ynap -1,48% lose share. Day to the rescue for Leonardo, +2,71%; purchases also for Buzzi +1,65%; Generali +1,73%, Unipol +1,33% and Unipolsai +1,79%.
On the other hand, it stands out in the Star segment Landi renzo, +11,95%, suspended at times due to excessive increases. The group's shares have gained more than 65% in the last month and more than 125% since the beginning of the year, in a rally that could be supported by the publication of the new business plan to 2020, expected in July.
