Very cloudy, with thundershowers and some clear spells. The sky of European price lists today appeared uncertain-variable, similar to that of our cities: Milano closed down by 1,49%; Frankfurt -1,55%; Paris -1,55%; worse Madrid -1,84% and London -2,15%; bucking Zurich + 0,2%.
The European squares have been trying to cut losses in the final when Wall Street, after a bad start, recovered from the lows. The party of the past few days does not seem to be over in New York, at least for the Nasdaq which is currently moving in moderately positive territory following the Faangs. On the markets there is a struggle between bears and bulls, thinking on the one hand of the damage that Covid has inflicted on the economy and businesses, on the other of the unprecedented monetary and fiscal interventions and the possibility of a rapid recovery. On the monetary policy front, the focus in these hours is on the Fed and the meeting that will end tomorrow with a decision on rates, the publication of the first economic estimates since the end of 2019 and the press conference of number one, Jerome Powell.
In any case, Piazza Affari slips below the psychological threshold of 20 points (19.930), mainly due to the banks. Profit-taking prevails in the sector following the recommendation of the European Systemic Risk Board (ESRB) to stop the distribution of dividends until the end of this year. Not even the raising of the spread:+2,75%, 176 basis points, with the BTP rate rising to 1,45%.
On the main Milanese price list, the black jersey belongs to Ubi -5,04%, followed by Understanding -4,62%. Among other things, the path of the Intesa Offer on Ubi is complicated, following the first negative assessments by the Antitrust. The authority believes that the merger between the two banks "is not at the stage of the deeds capable of being authorised" as it is suitable for "producing the establishment and/or strengthening of the dominant position" of Intesa "in numerous markets" without the The agreement for the sale of a branch of the company to Bper "can be taken into consideration, as an intervention aimed at resolving the critical competitive issues". The Antitrust therefore set June 18 as the deadline for "closing the phase of acquiring probative elements" and authorized the parties to present written briefs and documents until June 15.
In this context, not even the Modenese bank fares well, losing 1,43%. They do worse Unicredit -3,71% Mediobanca -3,22% Bpm bank -2,92%. Sales prevail over managed savings: Azimuth -4,28%; Banca Mediolanum -3,83%; Post -3,08%. Among the biggest drawbacks fca, -4,39%, after the fears that emerged yesterday on the EU Antitrust front regarding the merger with PSA. In the Agnelli team they appreciate each other instead Cnh +2,16% and Ferrari + 1,15%.
They bounce nexi +2,53% and health stocks such as Amplifon +1,59% and Diasorin + 1,19%.
Among the industrialists he loses Leonardo -4,14%, despite the news of the signing of a framework agreement with the Danish military procurement agency for the maintenance of defense systems in service with the Navy. The contract, with a duration of 20 years and a value of 70 million euros, includes after-sales support and the potential upgrade of the 76/26 Super Rapido naval guns.
Oil stocks collapse, Eni -2,98%, with black gold moving lower after yesterday's losses. The Brent it drops 0,5% and falls to 40,60 dollars a barrel.
Risk aversion favorsgold, which travels well in tune towards 1723 dollars an ounce.
Euro-dollar in favor of the single currency, with the exchange rate at 1,134.
