Despite the explosion of the Mediaset grain, worst title of the Ftse Mib, Piazza Affari manages to close the session on parity. The other main European stock exchanges rose fractionally despite Wall Street traveling slightly down: Paris +0,15%, Frankfurt +0,49% and London +0,21%.
Markets are waiting for the Fed meeting started today (ending tomorrow), the Bank of Japan and Friday's stress test results.
Good signals are coming from the US on the economy: the Conference Board's consumer confidence dropped to 97,3 points but was above the estimates which remained at 96,3; the Richmond Fed manufacturing index rose 10 points from -10 indicating that manufacturing activity returned to growth in July; new home sales rose 3,5% in June, above estimates. After new home sales, the fastest growth rate since 2008, sales hit Treasuries with yields rising to 1,5835%.
On Wall Street, the Dow Jones dropped 0,25% and the S&P500 0,08%. Headlights on McDonald's after disappointing bills. Oil was weak with Brent rising by 0,20% to 44,81 dollars a barrel and Wti falling by 0,26% to 43,02 dollars a barrel. the euro-dollar exchange rate is 1,098255.
In Piazza Affari the worst stock is Mediaset -6,93%, after the Vivendi turnaround on Premium. The company announced in an official note that Vivendi does not intend to proceed with the contract for the purchase of 89% of Mediaset Premium. Vincent Bolloré's company intends to limit its commitment to 20% but has sent a new proposal: confirmation of the exchange of 3,5% of the capital between Vivendi and Mediaset, but also the affirmation of the transalpine group's willingness to hold three years approximately 15% of the Italian issuer through a convertible bond loan, against the 5% expected so far.
"We have no intention of taking control of Mediaset", said the CEO of Vivendi, Arnaud de Puyfontaine this morning. The Biscione's reply was dry: "The scheme changes the industrial value at the basis of the agreement to significantly affect the capital structure". Mediaset also let it be known that the board of directors on 28 July for the approval of the half-yearly report "will officially take a position on this proposal and on the very serious communication of the CEO of Vivendi", explaining that it is firmly determined to assert all its rights in every venue . For Mediaset, with this move Vivendi is not fulfilling its contractual commitments.
Luxottica also dropped sharply -4,03% which lowered its sales forecasts for 2016, Mediobanca -2,34% and Unicredit -2,27%. The CEO of the Milanese bank has announced a reorganization of the group, with the aim of simplifying the operational set-up.
Mps -1,23% waiting for the board to meet again next Friday to deal with the Npl issue again. THEThe banking sector closed in contrast: Bpm +3,56%, Banco Popolare +2,51%. At the top of the Ftse Mib Cnh Industrial +7,74% driven by quarterly results. Enav made a positive debut on the Stock Exchange, closing up 10,61%.
