European stock markets fall on a morning marked by the arrival of macro data and the disappointing accounts of Volkswagen, which weigh on Frankfurt (-0,23%). TO Business Square the Ftse Mib index marks a drop of 0,3%. The performance of the lists of Paris (-0,2%), London (-0,3%) And Madrid (-0,11%).
In April the rate of unemployment Italian rose to 11,7% (36,9% for young people). Employed people increased by 0,2%, equal to 51 units. Good news on the other hand from the front ofinflation: in May the index recorded an increase of 0,3% on a monthly basis and an equal decrease on an annual basis (-0,3%, it was -0,5% in April).
Il Italian GDP it rose in the first quarter by 0,3% and by 1% compared to the first quarter of 2015. The change acquired for 2016 is equal to +0,6%.
Morning down for the Italian secondary, with lo spread (122 bp) little changed compared to yesterday's closing levels and on very limited volumes pending the US opening. The ten-year BTP trades at 1,387%.
Il governor of the Bank of Italy, Ignazio Visco, this morning expressed a note of cautious optimism on the problem of bank non-performing loans: “The moderate economic recovery underway since last year is being reflected in a significant drop in the flow of new non-performing loans; in 2015 they amounted to 3,7% of total loans, against 4,9% in 2014; for the household sector the flow fell back to pre-crisis levels. The trend towards normalization is continuing”.
Meanwhile, awaiting news on the front of the recapitalization of the Atlante fund, the banks retreat in Piazza Affari: Unicredit -2% to 2,94 euros. holds Understanding (-0,34%). Advance Carige (+3,5%): yesterday the BoD unanimously approved the guidelines of the industrial plan and the medium-term plan for the 2016-2019 period which will be presented to the ECB. The new business plan will focus on cost cutting (closing of 80 branches out of a total of 625), investments in Information Technology and reduction of non-performing loans. Down Mount Paschi (-0,70%), Ubi (-1,9%) And Banco Popolare (-2,5%). The Eurostoxx Banks index is at parity.
Brent slid down 0,9% to 49,3 dollars a barrel. Eni loses 0,4%, Enel +0,2. Some insights on Fiat Chrysler which gains 0,31% and is affected by the positive indications that emerged in the first weekend of the commercial launch of the new Giulia Alfa Romeo.
Among the minor titles exploits of Pininfarina (+7,8% to 2,25 euros) later the passage of the company to the Indian company Mahindra&Mahindra.
Volkswagen still pay the dieselgate. In the first quarter, profits fell by 20% over the same period in 2015 to 2,31 billion euros, a drop higher than expected (2,45 billion). After the initial slide, the stock reduced its losses to 1,2%.
Leonardo advances by 0,46%. StM falls by 0,6%. Telecom Italy down 1,21%: this morning HSBC analysts reduced the target price of the stock to 1,05 euro.
Some small caps shine. Note the performance of Digital Bros: +12,5% after yesterday's announcement of the sale of Payday rights to Starbreeze after the markets were closed. Kepler Cheuvreux brought the target price on the stock to 6 euros from the previous 4,5 euros.
Isagro it stands out with an increase of 6,5%, to 1,32 euros. The company of crop protection products (both of chemical and biological origin) has announced that its biosolution Ecodian has obtained authorization for marketing in Italy from the Ministry of Health.
