European price lists contrasted this morning, hit by the commercial (and technological) war between the big names. The conflict over Huawei, hit by the Trump embargofully invests the European Stock Exchanges. Even the German Infineon -5% has decided to suspend the supply of chips to the Chinese group to avoid being included in the US black list. According to Financial TimesUS intelligence chiefs are holding a series of secret meetings with US companies to warn them of the dangers of doing business with China. Also stm -7.5%, according to the Nikkei Review, should address the problem this week. The Old Continent's tech stock index is down by 1,3%. In the pre-exchange Americans, Qualcomm -6%. Also declining Intel -1,5%.
Paris retreats by 1,4%, like Frankfurt. Apparently Milan -2,6% around 20.700 points. But to condition the index is the detachment of the coupons which involves 69 listed stocks, including around twenty blue chips for an impact of around 530 points, equal to approximately 2,50%. Net of the dividend effect, Piazza Affari reports a gain of 0,1%.
Btp not moved. The 2,67-year reference rate trades at 276%, unchanged from the previous closing. The spread is worth 278 points from 1,115 at Friday's close. Thanks to the quarrelsomeness of the Italian government, tension in the euro area is growing: the common currency trades at XNUMX against the dollar, close to the minimum for the year.
Brent oil gained 0,6%, to 72,8 dollars a barrel, the day after the summit in Jeddah between OPEC countries and their allies which extended until December the agreements on production expiring at the end of June.
Oil stocks are in positive ground in Piazza Affari.
Eni, net of the coupon, +1%. The Argentine authorities have officially awarded the exploration license for an offshore exploration block to a consortium led by the Italian group. Saipem +0,1%. The company has been awarded two new offshore drilling contracts in Norway and the Middle East for over $100 million. Giova to Tenaris +1% steel peace between Canada, Mexico and the United States.
Down sharply at 12 Telecom Italy -2,4% within hours of the council. Tuesday morning the CEO Luigi Gubitosi will hold a conference call.
Net of the positive dividends, the financials, favored by the stability of the spread. Among the banks go up Intesa Sanpaolo + 1,7%. Azimuth + 3%. Where's Banca + 1,8%. Unicredit +0,2%. The shareholder foundations would not be against a merger with a foreign bank. Slow down instead Bpm bank -0,3%. HSBC cuts the target price to 2 euros. Mediobanca + 0,4%. Mediolanum Bank -0,3% slightly increased the share to 3,36%.
In April, PIR collection was negative by 82,3 million euro.
The utilities are also good. Enel +0,6%. The Argentine subsidiary Empresa Distribuidora Sur SA (“Edesur”) has signed two agreements with the Argentine national state which allow for the resolution of some previous and still pending disputes, with a positive impact on the 2019 consolidated Ebitda of approximately 180 million euros. Italgas + 1,5% Snam -0,3%.
Fiat Chrysler little move at 12 euros absorbs today's detachment of the extraordinary dividend equal to 1,30 euros per share deriving from the use of the liquidity generated by the sale of Magneti Marelli. Accreditation is scheduled for May 30th. On Friday afternoon, Fiat issued a voluntary recall of 600 vehicles in North America.
