The European stock exchanges are taking the downward path. The most robust decline concerns Business Square, down about 1,5% ahead of Frankfurt (-1,25%). The other price lists limit the loss below 1%: Paris -0,9% Madrid -0,75% London -0,40%.
Sales pressure mounted after the release of theGerman Zew index on business confidence, which collapsed in July to -6,8 from +19,2, well below forecasts: this is confirmation of the impact of Brexit on sentiment in the business world across the Rhine.
in Frankfurt, Zalando it explodes up 17% after announcing preliminary sales for the second quarter of 909-924 million euros, +25% compared to a year ago. Yoox is up 1% in Piazza Affari.
To weigh on the Italian list, very sensitive to banking problems, is also the decision of the European Court of Justice, which, speaking on the bail-in regarding the rescue of some Slovenian banks, confirmed that the rules which provide for the sharing of the costs of rescuing banks by shareholders and holders of subordinated bonds are in compliance with Community law, even if they are not binding on states.
The Eurostoxx Banks index loses 1,1%. In sharp decline Mount Paschi (-5,9%) while the search for a solution to solve the NPL issue continues, perhaps before the EU stress tests scheduled for 29. There was also a sharp decline Popular Milan (-3,7%) And Pop. Emily (-3,7%). Unicredit it falls by 3,3%, reaching 2,15 euros.
Ends up in the crosshairs Fiat Chrysler (-3,95%), after the news that the group is under investigation in the US for the hypothesis of diffusion of untruthful data on car sales. Investigators are working to understand if the automaker has violated US financial laws.
The indiscretion dates back to early January when it emerged that the owners of two car dealerships in the Chicago area had filed a complaint accusing FCA of inflating sales figures. The company had called the lawsuit unfounded. This morning Equita also spoke on the matter, judging the matter a "false problem". The Buy judgment reiterated with a target of 9,20 euros. The parent company Exor loses 1%.
The rise continues Telecom Italy (+0,5%), yesterday among the best stocks on the Milanese list.
Il Petroleum drops by 0,5% with the price of Brent at 46,6 dollars a barrel. Among the oil companies Eni -1,2% and Saipem + 0,5%. Enel falls by 0,8%.
