Bank stocks also fell on the European stock exchanges, despite the announcement of the birth of the third largest Italian systemic bank. At Piazza Affari the index Ftse Eb marks a fall of 0,9%: the banks, initially on the rise, are now in negative territory. The other squares are also in red: London is down by 1%, Paris of 1,4% e Frankfurt 1,1%.
The market response to the cautious credit merger: Banco Popolare it lost 2,7%, while at the start of the session the stock had been suspended due to an excessive rise. Banca Popolare di Milano -3,2%. The two companies, joining together, will lead to the birth of the third Italian bank, but before reaching the goal, a capital increase of one billion euros will be necessary which, according to Pier Francesco Saviotti, was immediately due to the imposition of the EU Supervision . Little moved Unicredit and Intesa.
Banca Popolare dell'Emilia Romagna +1,5%. This morning Goldman Sachs updated its considerations on the Italian banking sector in light of the recent news on the rules for the sale of NPL (non-performing loans) portfolios and on the merger between Banco Popolare and B. Pop. Milan. American analysts consider the Emilian bank the best stock in the sector in Italy. B.Pop. Emilia Romagna is included in the Conviction Buy list with a target price of 8,90 euros which promises an 85% profit on paper.
Weigh managed savings: Azimuth loses 2%, Banca Mediolanum 0,5% ed Anima salt by 1,5%. Still heavy Generali (-1,4%). The decline in oil continues (-3,1%). Salty the price for Eni (-1,7%): Standard & Poor's cut the rating. Tenaris -2% Saipem -3%. Also declining Fiat Chrysler (-2,3%) following the launch of a 1,25 billion bond.
Cnh Industrial, among the worst in the blue chip basket, marks a drop of 3,3%. Buzzi -3,4%. Finally heavy Mediaset (-1,7%) And Telecom Italy (-2,2%). Plus sign only for publishing companies after the conditional go-ahead from the Antitrust for the sale of Rcs libri to Mondadori (+3%) from Rcs Media Group (+ 2%).
