The uncertainty linked to the international situation leaves European stock exchanges volatile and directionless. In the final Piazza Affari snatches the plus sign and closes just above parity (+0,08%). The session was weighed down by Mps which, immediately entering the volatility auction, closed down by 1,8%. Last Friday, Moody's placed its long-term deposit and long-term senior unsecured debt ratings on watch for possible downgrades.
Also down were Tenaris -1,63%, Luxottica -1,42%, Atlantia -1,11% and Eni -1,09%, penalized by the drop in oil prices. WTI dropped 1,55% to 45,24 dollars a barrel and Brent 1,53% to 46,88 dollars a barrel.
The good intonation of Telecom Italia lends support to the price list +3,2% driven by the Mediobanca report which recommends the purchase of the stock with an Outperform rating and a target price of 1,27 euro, Azimut +2,91% and Stm +2,13%. The microchip industry is in turmoil after Japan's Softbank agreed to buy British firm Arm in a £24,3 billion ($32,2 billion) deal.
FCA +1,97% and Unipolsai +1,91% are also highlighted.
After the conclusion of the dispute for the publishing group, RCS (-3,19%) and Cairo Communication (-5,95%) deflated on the day of the shareholders' meeting to launch the capital increase to support the operation. The shareholders approved the delegation to the Board to increase the capital with the exclusion of the option right for a maximum amount of 70 million and within a year and the introduction of increased voting rights. During this morning's meeting, Urbano Cairo wanted to underline that "there is no hypothetical investor with the capital increase that we have approved", removing any doubts regarding a new entry in the company's shareholding structure. From the low of 7 April to Wednesday 13 July, RCS still gained 142%.
Meanwhile, the Bank of Italy has announced that it has bought bonds issued by major Italian companies as part of the ECB's corporate bond purchase plan. These are Eni, Enel, Atlantia, Telecom, Generali, Snam, Terna, Ferrovie, Poste, Rai, Acea, Luxottica, Hera, A2A, Iren.
The rest of Europe closed in contrast: London +0,39%, Frankfurt -0,04% and Paris -0,34%. In Turkey, the Istanbul Stock Exchange loses 7% after the failed and very brief coup attempt on Friday night.
Wall Street is more convinced where the S&P500 rises by 0,2% to new highs. Highlights are hi-tech companies, from Apple to Microsoft via Alphabet. Investors' focus is on quarterly earnings. The market is also eyeing the start of the Republican convention in Cleveland (Ohio), where Donald Trump will be crowned as the GOP candidate in November's presidential election.
