All projects Milan Stock Exchange volatility dominates. In the first part of the day, the Ftse Mib changed direction several times and by mid-morning it was down by 0,7%. The other European markets are also bad: Frankfurt -1% Paris -1,3% London -1%.
In the spotlight at Piazza Affari, in particular, the titles of bpm e Banco Popolare, after yesterday arrived the go-ahead for the merger. The third Italian banking group will be born from the marriage, a 170 billion colossus, with the need for a capital increase for the Veronese institution. The performance of the shares is highly volatile today, with high volumes: Banco Popolare was first stopped in the auction at -3,98%, then at +5,9% and now it is down 1,5%. Bpm, previously up 3%, is now down 1,6%.
Bper, on the other hand, is rewarded with a +2,73% bet on incoming extraordinary operations. Positive too Unicredit (+ 0,9%) and Understanding (+ 0,3%).
Off the main list, it rises by 2,36% Mondadori after the go-ahead from the Antitrust for the merger with Rcs Libri, which provides for the sale of Bompiani and Marsilio. Rcs rises by 3,35%, marking the best performance of the entire list.
At the end of the list Cnh (-2,6%), Exor (-1,95%) And fca (-1,6%). Heavy oil with Saipem which yields a point and a half. Eni -1,41% after Standard & Poor's rating cut from A- to BBB+. Tenaris -1,3%.
Down 1,34% also Mediaset and Telecom yields 0,5%. Today Il Sole 24 Ore writes that Mediaset and Vivendi are working towards an agreement on pay TV and a share swap of around 3%. What's more, today the Telecom nomination committee is meeting and the name of Flavio Cattaneo appears increasingly in pole position.
Meanwhile, the tone in Europe remains negative, with the dollar supported and the crude down. Yesterday the greenback pushed the euro below the 1,12 threshold, favored by the words of St. Louis Fed number one James Bullard who yesterday, after two other US bankers, called for a rate hike by the Fed in April. The decline in crude oil is weighing on the oil sector, with the Eurostoxx of raw materials down by 3,2%.
