The cut in the World Bank's growth estimates and the Chinese data on the trade balance weigh on the European lists that mainly close in negative territory with the exception of London +0,27%. Paris, on the other hand, lost 0,61%, Frankfurt 0,69% and Milan 0,37%.
In Piazza Affari, the eyes are focused on the banking sector and on the capital increase of Veneto Banca which started today. At the bottom of the Ftse Mib Unicredit which, awaiting the board of directors who will examine the dossier for the replacement of the CEO tomorrow, lost the final 4,5% to 2,55 euros, the lowest end-of-day price for almost four years. Ubi -3,5%, Bper -3,2% and Banco Popolare, which sold 3% with the rights to the capital increase down by more than 6% to 1,3 euros. Bpm (-2%), Understanding -1,1%. Mps -1,95% discounts the rating cut by the Dbrs rating agency, which reduced the rating on the institution to BB from BB (high), maintaining the negative outlook.
Today in the Eurozone I am the purchases of corporate bonds by the ECB have started. In Asia, the Tokyo Stock Exchange's Nikkei index closed up 0,93% after the upward revision of Japanese GDP (+1,9% in the first quarter, compared to the preliminary reading of +1,7% annualized) . On the other hand, the other markets of the continent were weak in the wake of the Chinese data on exports in May, which fell on an annual basis by 4,1%: Hong Kong -0,14%, Shanghai -0,30% and Shenzhen -0,33%.
In the night therehe World Bank has cut its 2016 growth estimates for the global economy: +2,4% compared to the 2,9% indicated previously. Growth thus settles back to the levels of 2015, while it will tend to go back up to 2,8% in 2017 and 3% in 2018. The uncertainty surrounding the referendum of 23 June continues to weigh on this scenario.
But Wall Street indices manage to remain in positive territory thanks to the support of oil which maintains the plus sign: the Wti rises by 1,33% to 51,03 dollars a barrel and Brent by 1,61% to 52,22, 0,6. US inventories fell XNUMX% last week, though less than analysts expected.
In Piazza Affari, oil stocks stand out with Saipem +4,87% also thanks to press rumors about a new billion-dollar order, after the 180 million contract with Saudi Arabia announced yesterday. Tenaris +1,73%. Eni is more cautious instead +0,28%. Also in evidence were Generali +1,89%, Ferragamo +1,5% and Yoox +1,41%.
However, the best stock in the entire list is Safe Bag, which has repeatedly entered the volatility auction: +34,2% in the wake of the news that the Florida subsidiary Safe Wrap has received the go-ahead for the retroactive renegotiation of the concession contract for the stopover in Miami, thus obtaining a credit of 2,7 million.
