Only Moncler is saved among the blue chips. The crossfire of macroeconomic data and geopolitical tensions knocked out all the main stocks of the Milan Stock Exchange. Only the colored duvets that landed on the Stock Exchange at the end of 2013 with a bombastic IPO closed the first ten days of the month of August with a positive performance: +6,69% which brings them back to 12,13 euros, after reaching the beginning of August the lowest since listing at 10,94 euros (the placement price was 10,2 euros). Thanks to the above-expected second-quarter data and the barrage of positive judgments from analysts.
The other luxury titles are instead scattered throughout the ranking of the best and worst of this week of passion. Five positions below comes Tod's which limits its losses to -3,89% despite the fact that the quarterly report has not been well received by analysts. Luxottica dropped 5,27% and Ferragamo 6,04% while tumbling among the bottom of the Yoox class: the fashion and design e-commerce company archives a double-digit loss of 13,62%. Far worse than the Ftse Mib, which has lost 6,7% since the beginning of August. Overall, 19 stocks outperformed the reference index while the remaining 21 recorded heavier declines.
The stock market was affected by geopolitical tensions in Iraq with Obama's go-ahead for an air strike in Iraq, ongoing fighting in Ukraine and renewed fire between Israel and Gaza. And of the alarm raised on Thursday by Mario Draghi: "The increase in geopolitical risks – said the president of the ECB – together with developments in the economies of emerging countries, have the potential to negatively affect the conditions of the economy". From the macroeconomic front, there is no better news: on Wednesday, Istat released the data on Italian GDP for the second quarter, which returned negative by 0,2% compared to the first quarter (+0,1%) signaling Italy's return to recession . YoY it fell 0,3%.
The freeze triggered a strong current of sales on the entire Stock Exchange and above all on the banks which were among the hardest hit securities last Wednesday. Overall, since the beginning of August the trend for the sector has been negative: only Intesa and Unicredit manage to do better than the index, limiting the red to -4,81% and -5,88% respectively (Ftse Mib -6,7%) . Heavy balance for Ubi -8,86%, Mediobanca -9,27%, Bper -12,48%, Bpm -12,88% which however announced yesterday the return to the dividend, Banco Popolare -13,75%. Worst among the banks, but also among all the titles of the Ftse Mib, Mps which collapses by 22,16% detaching the penultimate worst title (Banco Popolare) by almost ten percentage points. Siena is not yet out of the storm: the half-year ended with a loss higher than analysts' expectations.
Table at FIRSTonline.info
Among the best stocks we find Pirelli which with a drop of 1,44% is the second best stock of the period and Generali -3,24%, supported by the entry into the capital of the People's Bank of China. Finmeccanica -4,25%, Mediaset -4,87% and Telecom Italia -4,88% also did better than the reference index in the week in which Telefonica surprisingly offered 6,7 billion in cash and shares for to acquire the Brazilian fiber optic operator Gvt controlled by the French Vivendi. An operation which, if successful, would corner Telecom which could lose its industrial partner and major shareholder (Telefonica), finding it again as a competitor in South America. Also limits damage to Eni -5,09%.
Worse than the index was Fiat -6,22%, under fire for fears that requests to exercise the right of withdrawal exceed 500 million euros, the ceiling above which the suspension clause that cancels the merger with Chrysler should be triggered . Cnh -7,79%, Autogrill -9,92% and Enel -11,86%.
If, on the other hand, we broaden our gaze to all the securities listed in Milan, it is also possible to find some double-digit positive performances despite the turbulence in the price lists. Among the thinnest stocks, also influenced by the summer period of scarce trading, are Bialetti Industrie +12,53%, Boero Bartolomeo +11,95%, Roma +10,72% and Banca Intermobiliare +8,82%. At the bottom we find instead Screen Service which drops by 42,3%, Moviemax -29,36% and Zucchi -27,69% after the Kpmg auditing firm did not certify the group's half-yearly report. After the separation from his wife and the Rio World Cup to be forgotten, the stormy summer continues for Juve goalkeeper Gigi Buffon, Zucchi's single largest shareholder with 12 percent.
The 10 Biggest Rises since the beginning of the month
Table at FIRSTonline.info
The 10 Greatest Discounts from the beginning of the month
Table at FIRSTonline.info
