Stock markets still weak after yesterday's drop caused by the attack on Saudi oil facilities, which halved the country's crude oil production. The Oil prices corrects but Brent remains around 68 dollars (67,9 to be exact). WTI oil fell 1,6% to $61,7 a barrel. The summit between Türkiye, Iran and Russia is taking place in Ankara. Vladimir Putin has said that a humanitarian tragedy is unfolding in Yemen and that Russia is ready to provide help.
A Milan the index dropped by around 0,4%, around 21.800 points.
Frankfurt -0,07%. Macro data point to a slight improvement. The Zew index on the expectations of entrepreneurs, economists and analysts rebounds from the lows of the last seven years reached in August and rises to -22: the consensus expected -34. Last month, the index fell to -44.
Worst of all Madridhalf a point down. It bounces Paris (+ 0,2%).
London +0,15% as Brexit D-Day approaches. The British Supreme Court is called upon to rule definitively on the legitimacy or otherwise of the closure of the British Parliament. The verdict is expected not before Friday.
The stock lists, now the storm has passed, tune into the decisions of the Fed, which in a few hours will meet the Fomc, the committee that decides the level of official rates. Meanwhile, the euro strengthens against the dollar. The single currency is worth 1,10028 (+0,06%) compared to the greenback.
On the debt securities front, a downward start for Italian paper, also held back by the fibrillation of Italian politics. Against a flat start for German stocks, flat, the spread on the Bund on the 10-year stretch it widens to 137 points, from 133 at yesterday's close. The 0,89-year BTP rate rises to 0,85% from XNUMX%.
The rally in oil stocks also fades: Eni it still gains 0,70%, to 14,38 euros; little move Tenaris (+0,71%). But by mid-morning he retraces Saipem (-2,07%).
It bounces Atlantia (+1,6%) from the lows of February pending the decisions of the board which will probably take note of the resignation of CEO Giovanni Castellucci.
Among industrialists, heavy setback for Prysmian (-3,8%), after the cut in estimates by Corning, active in the same market area. The Italian cable company, which generates around 31% of its revenues in telecommunications, confirmed the achievement of its 2019 targets.
Down too Pirelli (-1,5%), Fiat Chrysler (-1%) And stm (-0,8%).
Cnh Industrial -1,28% after the news that the Elliott fund has purchased a stake of around 3%: the fund's ability to control the governance of the company is very limited considering that Exor holds 42% of the voting rights.
Banks retrace after rally following ECB announcements. Brake Unicredit (-1%): "We wouldn't be surprised to read background on ongoing negotiations between Société Générale and Unicredit" writes Bloomberg commenting on the measures presented by the ECB on cross-border mergers. Where's Banca -2%. Bpm bank -2%.
Fineco Bank -1,5%. Unipol Sai -0,8%
It's an exception Ps (+1,2%) which this morning returned to the market with a 5-year preferred senior bond. But the increase is justified by the forthcoming sale of a package of properties for 350 million.
nexi (+1,7%). Citi raises judgment to Buy from Hold. Target price at 10,8 euros.
