Oil goes up, the spread goes up, the stock exchanges go down. The financial week opens in the red, under the pressure of political tensions, in Italy and globally. In Milan, the index leaves 0,69% on the ground below 21.400. The other markets were also in the red: Frankfurt -0,2%, Paris -0,26%, Madrid -0,4%. London also loses momentum – 0,14%.
Rising sharply Sky after the victory of Comcast in auction against Fox. The stock rose 8,6% to £17,23, just below the offer of £17,28 per share.
British tour operator Thomas Cook slumped 25% after sharply cutting earnings estimates, blaming weaker demand for holidays between August and September on a hot summer in Northern Europe.
The ten-year BTP trades at 2,89%, from 2,83% on Friday. The Btp-Bund spread stands at 241,1 points. Operators' moods on Italian debt are once again negative. Pimco and Aberdeen Standard, two large asset management companies, are currently recommending selling or underweighting the Italian debt in the portfolio. Société Générale calls for caution, as it believes a sharp increase in volatility is likely in the next two weeks.
When the markets are closed, the Treasury will communicate the details of the medium-long term auctions on Thursday, 27 September.
The euro/dollar strengthened slightly, reaching a session high of 1,1767 after the publication of the German Ifo in September, down but less than expected. "The German economy remains stable, even if uncertainty is growing", comments the president of the research institute Clemens Fuest.
ECB President Draghi will speak in the afternoon in the Economic and Monetary Affairs Committee of the European Parliament. Yesterday the Austrian central banker Nowotny spoke in favor of faster times for the normalization of monetary policy.
Oil prices continue to rise: with Brent crude oil rising above 80,5 dollars a barrel, the highest level since November 2014. WTI crude oil is also on the rise, traveling above 72 dollars.
Opposed the oil companies: Saipem earns 4,34%%, Eni -0,6% after detachment of the advance dividend (0,42 cents).
Banks are penalized by the weakening of the BTP: Intesa Sanpaolo -1,78% Bpm bank -0,7%. Bucking B for Bank + 1,4%.
Crossbody strap Carige -8,3%. The market fears the request for a strong capital increase if the Malacalza group rejects the hypothesis of an M&A.
FinecoBank +0,9%, update historical record.
In red Telecom -1%. The board meeting is in progress. Meanwhile, the auction of 5G frequencies is going much further than expected: the participants are colliding with relaunch shots.
On equality Fiat Chrysler +0,06%. Calsonic Kansei, a subsidiary of Kkr, has raised a loan of up to approximately 5 billion euros from Japanese banks for the possible acquisition of Magneti Marelli.
Contrasted the luxury: Moncler -1% Ferragamo -1,17% a few hours fromannouncement of the sale of Versace (Michael Kors the most likely buyer) at a price of about 1,7 billion euros, it is not clear whether net or gross of debt. If this were the figure, Versace would change hands at low multiples compared to its competitors.
Still missing out Astaldi – 3,39%, after rumors of an upcoming request to restructure the bond.
