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Stock market weak: utilities rebound but Tim and Atlantia drop

Piazza Affari dances around parity – Italgas, Poste Italiane, Ferragamo and Ubi shine – Profits taken on Telecom Italia, Recordati, Tenaris, Buzzi and Atlantia The E.On-Rwe operation gives impetus to the German Stock Exchange – Good opening of the Nasdaq

Stock market weak: utilities rebound but Tim and Atlantia drop

The European lists close mixed, weighed down in the afternoon by the uncertain performance of Wall Street Il Nasdaq touches new records in the opening, but the Dow 30 is currently moving in negative territory, weighed down mainly by Boeing.

Business Square ends flat, +0,08%; 22.764 points; the same Paris, +0,04%; down London -0,14%; they go up Madrid +0,43% and Frankfurt +0,58%. European shareholders are mainly supported by utilities, in the wake of the German restructuring of the energy sector, with the agreement between E.On and Rwe (+5,47% and +7,82% respectively in Frankfurt).

A Milano the best blue chip of the session is italgas, +2,37%, also galvanized by 2017 accounts, higher than expected for earnings and dividend. Bene Post, +1,7%, promoted by Equita and Jp Morgan; Snam +1,31%. In luxury it regains altitude Ferragamo +1,78%. The banks they close at different speeds, waiting to know the package of measures to reduce the level of non-performing loans, which will be presented this week by the supervisory president, Daniele Nouy. However, Germany is still holding back on the banking union. "We can make progress - says Finance Minister Peter Altmaier, on the sidelines of the Eurogroup - only when there is progress in reducing risks".

In the banking sector, the best is Ubi, +1,5%; the worst Bper -0,99%.

On the sales side of the list, oil stocks such as Tenaris, -1,46% and Saipem, -1,29%, in line with the decline in black gold. Brent -1,08%, 64,78 dollars a barrel.

Bucking Eni, +0,93% thanks to entry into the United Arab Emirates (it obtained two long-term offshore concessions) and the sale to Mubadala Petroleum of a minority stake in the huge Egyptian field of Zohr.

Out of the main basket it shines Saras +7,65%, after the approval of the 2017 financial statements with a profit of 240,8 million (+23%) and the presentation of the new business plan to 2021, where investments of 800 million euros are expected with the aim of maintain operational and technological excellence, also through the innovations of Industry 4.0.

It deflates Telecom -1,42%, after the gains of the last eighth; below Recordati -1,43% and Buzzi -1,12%.

Sitting little move for the Italian secondary. The 1,91-year yield is stable at 127.90%, even if the spread rises to 1,83 points, +XNUMX%. The political stalemate continues and in the meantime, from aBank of Italy investigation on the 2016 household budgets, it emerges that in Italy, almost one in 4 people is at risk of poverty.

On the currency front, the exchange euro Dollar it is little moved, in area 1,232.

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