European stock markets started strong but lost momentum as the hours passed. Thus, while Madrid remains the strongest market following the pro-national unity demonstrations, with Caixabank up 2% following its decision to move its headquarters to Valencia, Milan is holding steady at midday, with ups and downs around parity. Banks are primarily weighing down the stock market despite the favorable outcome of the ECB's stress tests.
In France, Crédit Agricole loses more than 1% after the CEO said the bank was interested in the 15% stake held by the German state in Commerzbank (+0,2%), if it were put up for sale.
At Piazza Affari, the Ftse Mib rose by a limited 0,13%, with the Ftse All Share marking a +0,08%, while in Paris the Cac40 marked a +0,07%, in Frankfurt the Dax30 +0,09% and in London the Ftse100 slipped by 0,19%. In Madrid, however, the Ibex35 gained 0,73%.
In Milan, Mediaset has started off like a rocket based on the possibility of negotiations with Vivendi, and has increased its gain to nearly 7% (6,68% to be precise, at €3,096). Market participants are optimistic about the possible resolution of the long-running dispute over the failed acquisition of Premium and the possibility for the Italian group to obtain compensation from its former French shareholder.
Vivendi shares rose 0,59% on the Paris Stock Exchange. Telecom Italia shares rose little to €0,765, up 0,26%.
But as we were saying, at Piazza Affari it is the banks and financial institutions that weigh down the price list with Bper -1,78%, Banco Bpm -1,31%, Ubi Banca -1,12%, Finecobank -0,90%, Banca Generali -0,90% and Unipol -0,87%.
Well the utilities with A2A +1,06%, Acea +1,14%, Italgas +1,31%.
Enel rises above 5 euros, + 0,72%, after announcing the sale of an 80% stake in the Mexican company that owns 1,7 megawatts of photovoltaic plants. The closing is expected by the end of the year and will net the Italian group $1,35 billion, which will continue to manage the plants.
Atlantia The stock initially gained 0,4% on the Milan Stock Exchange (Piazza Affari) before slowing to 27,7 euros.
