The red of the European stock exchanges widens, weighed down by the sales of financial stocks. Milan, yesterday's pink jersey of the day, is primarily paying the price, where Ftse All Share yields 1,94% and the Ftse Mib 2,08%. Down 0,95% Paris, 0,8% Frankfurt and 0,24% London. Among the blue chips of Piazza Affari, bad Banco Popolare (-3,76%), Bpm (-3,33%), Intesa Sanpaolo (-3,16%) and UniCredit (-3,1%).
The European Central Bank believes the recent declines in banking stocks also reflect 'continued underlying weakness in banking profitability' due to the global crisis, according to the release of the minutes of the meeting of the ECB's Governing Council in late July, which took place yesterday. and at zero rates, but also at the levels, 'still very high in some parts of the euro area banking system, of problematic loans', NPLs, 'which continue to weigh on bank balance sheets'.
The ECB also remarked that 'these vulnerabilities tend to re-emerge with each new shock that represents a risk for the recovery of the area's economy'. And this despite the fact that in general terms the system is 'much more solid than the overall assessment of bank balance sheets conducted in 2014'. Among the other financial stocks, Unipol (-4,05%) and Azimut (-3,92%) down, but sales involve the entire list with Telecom Italia down by 3,52% and Cnh Industrial by 3,1, XNUMX%.
