The end of the week in deep red for Piazza Affari, while the storm on Italian government bonds intensifies. In Piazza Affari, the index falls by 1,66%, around 21.400 points. In red, but with less violence, also Frankfurt (-1%). Benefits a Madrid (-0,8%) after a week of gains. Down too London (-0,8%) And Paris (-0,3%).
The bad conditions of the market are conditioning the markets G7 (or G6+1 to underline the US's detachment from the others) underway in Canada: Donald Trump on Saturday morning will leave the meeting in Quebec before it ends, and will miss the summit sessions dedicated to climate change. The announcement was made by the White House, after the spat between Trump and the French president.
It is difficult to evaluate the role of Giuseppe Conte, the prime minister who had a very demanding debut. Meanwhile, beyond the downpour of sales on the stock market, the public securities market is experiencing another day of passion. The Btp a ten-year trades at 3,08%, from 3,03% yesterday. spread still hot, 264 basis points. Two-year bonds are traded this morning at a rate of 1,72% against 1,514% at the end of yesterday's session.
Tension is already high for next week's auctions. Yesterday the Treasury announced that on June 12th it will offer only 6 billion euro of 12-month BOTs against bonds maturing for 6,5 billion.
THEeuro it weakens to 1,176 on the dollar.
Oil Brent it is down to 76,7 dollars a barrel, -0,8% from yesterday's +2,6%. Saipem (-0,3%) announced that it has received an order worth approximately $550 million, the company has been contracted to build a portion of the Nong Fab regasification plant in Thailand. The turnover generated should generate a margin of approximately 5% at EBITDA level. Since the beginning of the year, order collection has reached 3,9 billion euros
In Piazza Affari, the index of Italian banks dropped by 2,18%. After all, there are Bpm bank (-3,29%) And Where's Banca (-3,1%). It weighs on the former Popolari the orientation of the League, determined to cancel the reform. The CEO of Bper Alessandro Vandelli said that the process of transforming popular companies into joint stock companies is irreversible. “It is said that when toothpaste comes out of the tube, putting it back in is complicated”. Vandelli himself confirmed that the NPLs will be processed within the facility. Even Giuseppe Castagna, CEO of Banco Bpm speaks out on the reform hypothesis for the Popolari: “I don't think it affects those who have already transformed because obviously we have held meetings, Popolari moreover because it was the members of the cooperatives who voted for the transformation, so I think it is an irreversible process for us”.
Sales also on asset management: General Bank loses 3,6%, Azimuth 2,9% and Bank Mediolanum the 2,67%.
The automotive sector is also bad. with Fiat Chrysler leaves 2,3% on the ground e Cnh Industrial 3,7%. The European Stoxx for the sector marks -1,24%.
Also declining stm (-1,7%) despite having raised the rating to Buy. All high-tech companies down this morning, including semiconductor companies. The Sox index closed down 1%, the first decline after four straight days of gains.
Down Tim (-0,9%), Enel (-1,7%) And Atlantia (-1,9%).
Rethelit yields 4,17%%. The council of ministers resolved to exercise the special powers with reference to the change in the company's governance.
