The thud of the Madrid Stock Exchange, -2,85%, infected Milan, which closed down by 1,44%, 22.456 points. Solid Frankfurt, +0,53%, while Paris contains losses at 0,08%. Flat London, -0,01%.
Above all in Piazza Affari it is the banks that leave the greatest losses on the ground, after the announced ECB tightening on NPLs starting from 2018: Banco Bpm -5,3% and Ubi -3,76%, are at the bottom of the list, followed by Bper -2,96%; Banca Generali -2,84%; Unipol -2,76%. Investors also collected Intesa -1,68 and Unicredit -2,63%, returning from gains far exceeding 20% since the beginning of the year. Pirelli's return to trading after 19 months of absence was subdued, -0,46%, 6,47 euros per share, not far from the placement price. The security will return to the Ftse Mib with the next revision of the main list, in December.
The Spanish crisis and the continuation of the clash between Catalonia and the central government weigh on the markets of the Eurozone. The intensification of the tug-of-war, with unpredictable outcomes, accentuates sales also on bonds. The spread between the Spanish and German benchmarks rose by 6,62% to 133.60 basis points. On the other hand, the critical situation and the debt weigh on the Italian paper, with the 10-year BTP revising the yield to 2,26% and the spread with the Bund rising to 180.60 basis points (+2,67%). The bonds recover a bit in the second part of the session with the green light from the Senate for the majority resolution on the Def, but there is high tension between the government and the Mdp after yesterday's split and the resignation of the deputy interior minister Bubbico.
Meanwhile, while waiting for Janet Yellen to speak at the banking conference organized by the Federal Reserve Bank of St. Louis and while Mario Draghi delivers the opening remarks at the inauguration of the ECB Visitor Center in Frankfurt, Wall Street travels cautiously, but the three main lists they move into positive ground. The Dow Jones floats above parity and could close the sixth session higher, on new highs. Positive Amazon, despite the European Union having ordered it to refund 250 million euros in taxes to Luxembourg, against unfair tax advantages since 2003.
Euro modestly up against the dollar, in the 1,176 area. Oil fluctuates even after the EIA data on US weekly inventories better than expected, Brent -0,05%, 55,75 dollars a barrel. Slight recovery for gold, +0,13%, 1273,391 dollars an ounce.
In Piazza Affari, there are few stocks with a plus sign: Luxottica +1,09%; Recorded +0,59%; Tenaris +0,08%. Piatta Campari which, with the markets closed, announces that it has signed an agreement for the sale of the Lemonsoda business to Royal Unibrew, a beverage manufacturer based in Denmark.
Finally, news from the MPS front: the Sienese bank has presented the listing application to Consob and now the readmission to the list depends on the technical times for the authorization, which should arrive within the month of October. The clarification comes from Fabrizio Pagani, head of the technical secretariat of the Mef.
