European stocks closed mixed, limiting gains and losses in a fluctuating session, with investors still uncertain about duties and in the aftermath of a black Monday. Piazza Affari rises by 0,3%, 21.419 points, kept afloat by Fiat, +2,89%, which recovers from the lows since March reached yesterday. Well Buzzi, +2,32%, Stm +2,19%; Unipolsai +1,71%; Brembo +1,56%.
The worst title is Telecom, -3,01%, despite CEO Amos Genish's mea culpa "for having made inappropriate statements" and after the newfound peace in the council. Banks were down, penalized by the further sharp rise in the spread after the auction in which the Treasury placed Ctz and BTP-i for three billion with sharply rising rates. Between ten-year Italian and German, the difference is 256.40 (+3,51%), while the yield rises to 2,9%. The publication of the draft agreement for the reform of the euro area also weighs heavily, which ignores the requests of the new Italian executive in view of the EU summit scheduled for Thursday and Friday. European leaders would be determined to give greater powers to the ESM State Rescue Fund which, in emergencies, will be able to intervene with loans to contribute to the resolution of failing banks, but will have greater powers to propose and monitor assistance programmes.
In the banking sector Bper is going against the trend, +0,43%. According to MF, Unipol's rise in the share capital could speed up the project to set up a corporate core linked to entrepreneurs and foundations in the area, with the aim of locking down a stake of more than 10%. Slight decrease in Frankfurt, -0,29%; flat Paris -0,05%; moderately positive Madrid +0,2% and London +0,46%.
Wall Street, travel in tune, as they fade, but the trade war winds do not subside that keep the markets in check. Today President Donald Trump shoots again on Harley Davidsons. "You must know that they will not be able to resell their motorcycles in the US without paying a hefty tax!" she writes in a Tweet, after the queen of roaring Americans had announced that she wanted to move part of her production abroad. Netflix raises its head (+3,8%), which yesterday suffered the worst drop in almost two years (-6,5%).
The dollar slightly prevails over the euro, with the exchange rate between the single currency and the greenback around 1,167. Progress for oil, like Brent: 75,32 dollars a barrel, +0,79%. Gold was weak at 1260.99 dollars an ounce (-0,37%), but recovering from the lows of the year, below 1260 dollars, reached during the session. Returning to Piazza Affari: sales ballast Banco Bpm -2,3%; Leonardo, -2,3%; UniCredit -0,94%. Ferragamo down, -1,45%, with Reuters seeing the marketing and communication director Antonio Burrello leaving the group.
Outside the Ftse Mib Mps is still slipping, -3,05% (2,546 euros per share) worried by the electoral results which, after 74 years, have handed the city over to the centre-right. Bad Carige -2,47%, with the farewell of the president Giuseppe Tesauro for "divergences concerning the governance and management of the bank".
