Sales on European price lists are raining, starting from Business Square, together with Madrid the worst market. The Stock Exchange is an exception London, flat, while the landslide continues GBP on the euro, which rose to its highest level since March 2017, up 0,4% to 0,916. Since Boris Johnson became the new prime minister, the British currency has lost 3,6% (28% since the Brexit vote). Milano it loses 1,7% around 21.300 points. In red Frankfurt (-1,10%), Paris (-0,6%) And Madrid (-1,6%).
The index of economic confidence in Eurozone countries it fell to 102,7 points in July, below expectations. Among other negative notes, the French economy lost momentum, which grew in the second quarter by 1,3% year on year, against the +1,4% expected. Consumption is below expectations, not at all helped by the tax cut granted by the Macron government after the protest of the yellow vests. Meanwhile in Frankfurt Bayer loses 4% after the publication of data for the quarter.
Go back to widen it spread in yields between Italian and German ten-year bonds that exceed 206 basis points also in the wake of tensions within the government majority. The medium/long-term bond auction was held this morning. The Treasury has placed all the six billion euros of 5 and 10-year BTPs offered at auction with rates in sharp decline. The average yield of Btp to 10 years fell to 1,56% from the 2,09% of the placement in June, revising the lows since October 2016. The rate of the five years marks a sharp drop to 0,8% from 1,34%. Also sold Ccteu maturing in January and April 2025 for €1,25 billion, at a rate of 1,06% (from 1,60%) and 1,11% respectively. in the wake of tensions within the government majority.
Banks are down sharply in the face of pressure on the debt market. It gets worse Unicredit (-4%), Understanding leaves 2,8% on the ground, Mediobanca -2,70% Ubi -3%. The management is also heavy: Fineco -3,7% Azimuth -2,2%.
In the new automotive crush for Brembo (-4,67%), at the bottom of the main list. Kepler Cheuvreux has cut the target price.
Pirelli -3%. ChemChina, China National Tire & Rubber Corporation, Silk Road Fund, Camfin and Mtp have reached the agreement for the renewal of the shareholders' agreement on Pirelli shares until spring 2023. Confirmed the central role of the current executive vice president and CEO, Marco Tronchetti Provera, in guiding top management and in designating a successor.
Even the titles of the Agnelli galaxy are losing blows: fca -3,84% Ferrari -1,7%.
Few titles in contrast. Among these stands out Campari (+5,15%), suspended due to excessive increases before continuing the rally after the half year closed with sales of 848,2 million euros (+9%), due to a positive organic performance of sales and the positive effect of exchange rates due to the strengthening of the dollar.
Contains losses thanks to solid Italgas accounts (-0,2%). Snam-1,5%. Enel -1%. Saipem -1,5%. Eni -0,9%.
