The European stock exchanges, down slightly, witness the movements of the City, in full fibrillation from hard Brexit: mimicking Winston Churchill, Boris Johnson has created a war cabinet for divorce from the European Union. Thursday there are communications from the Bank of England, rates should be confirmed on current levels, at 0,75%. The British stock market index gains 1,25% thanks to the drop in the pound (to its lowest level in 28 months) but also to the boom of Just Eat +25% after announcing the merger with the Dutch rival takeaway. com.
The London Stock Exchange, controlling shareholder of Borsa Italiana, which rises by 15%, on the highest in history, is also on the shields: the company has confirmed its intention to buy Refinitiv Holdings, a supplier of financial data controlled by Blackstone. This is a 27 billion dollar operation. The other markets are much less busy, pending the decisions of the Fed (appointment for Wednesday evening). Piazza Affari dropped by around 0,35% just under 21.800 points, in line with Paris and Madrid. Frankfurt -0,18%. Heineken fell 5,3% in Amsterdam after the world's second-largest brewer missed its half-year earnings estimates.
Political tensions and the alarm raised by S&P on Friday did not leave their mark on the debt market. The Treasury has placed all 6,5 billion euros of BOTs six-month bonds offered at auction with sharply declining rates. The yield fell to -0,21% from -0,063% of the placement at the end of June. Demand reached €9,498 billion with a coverage ratio rising to 1,46 from the previous 1,41. Tomorrow the Treasury will offer a higher amount than in the last appointments: up to 7,5 billion euros in 5 and 10-year BTPs and Ccteu in a placement which, according to operators, does not cause concern.
The BTP strengthens to 1,53%, from 1,56% yesterday. Spread slightly up to 196 points. German Bund at -0,39% yield. WTI oil loses 0,4% to $56 a barrel. Eni -0,2%. Saipem-1%.
In the price list of Piazza Affari Tim shines +1,3% already prominently on Friday after the announcement of theagreement with Vodafone on the towers. Equita has raised the target price of the share from 0,58 to 0,62 euro. The target price on savings shares rose from 0,55 to 0,59 euro. The rating remains buy. Fly Inwit +5%.
Amplifon is also on positive ground +1,33%. Little move Exor after the good results of the main subsidiary, Partner Re, which made a profit of 0,3 billion in the quarter thanks to the performance of the insurance segment and investments.
Fiat-Chrysler -0,3%. Pirelli -1,5%. Piaggio also loses hits -3%. Fincantieri in sharp decline -2,75%. The CEO Giuseppe Bono said he was ready to resign if the Italian government limits the plan to acquire Chantiers de l'Atlantique (formerly STX France).
Misses Stm -1,7%. Intesa slows down -0,47%: The negotiations between Intesa and Prelios, concerning 10 billion euro of unlikely to pay (Utp), could be close to a conclusion. Unicredit -0,7%. Among the stocks reporting results today: Brembo -0,9%, Anima+1,3%, Nexi -0,2%.
