The week of opens in black jersey Business Square, which slips below 24 points -0,52% (23.896). They weigh Telecom -2,4% Prysmian -2,14% and banks as a whole: Ubi -1,72%; Bpm bank -1,79%; Unicredit -0,82%. Out of the main list Ps it loses 5,23%, after Friday's double-digit jump. It makes it even worse spreads: the yield differential between Italian and German ten-year yields rose to 157 basis points +1,29%, with a rate of 1,38% for BTPs and -0,2% for the Bund. Meanwhile, the German federal state reported a record surplus of 2019 billion euros for 13,5,
The propensity for risk is also weakening in the rest of Europe, even after the matching opening of Wall Street, tirelessly progressing and close to all-time highs, thanks to technological stocks and while waiting tomorrow for the start of the quarterly season with the major banks and the arrival of the Chinese for the signing of phase one trade agreements, expected on Wednesday. This week there is a chapter on duties that also concerns Europe, in fact EU Trade Commissioner Phil Hogan, tomorrow in Washington, will have a series of important meetings to "identify common ground for shared solutions in order to strengthen trade relations ”. Relations are tense due to the tariffs imposed by Trump on steel and aluminium, while German cars and French products are at risk. The WTO has also authorized the US to impose tariffs on 7,5 billion European products for public subsidies to Airbus (a burden that would also affect Italy)
In this context Frankfurt loses 0,26%; Paris -0,09%; Madrid -0,26%. Bucking London +0,39%, favored by the drop in the pound by more than half a percentage point against the euro and the dollar. Pushing the British currency downwards would be the strengthening of the hypothesis of a forthcoming rate cut. Between the single currency and the greenback, on the other hand, the exchange rate is slightly in favor of the former and moves around 1,138.
Withdrawn the raw materials: gold -0,46%, $1552,85 an ounce; Brent -1%, 64,33 dollars a barrel.
In Piazza Affari there are only six positive blue chips: nexi +1,57%, recovering after the slide in the last session with the sale of 7,7% of the capital by the investment funds that control the company; General Bank +1,26%, awaiting the data on the 2019 harvest; stm +0,85%; Buzzi +0,51%; Exor +0,29%; Moncler + 0,22%.
On the sales side, Prysmian is paying the price for a new shutdown on the high voltage link between Scotland and Wales called the Western Link. Below Amplifon -1,9%:
It's in red Atlantia -1,44%, with the approach of next week's council of ministers which will be able to take a decision on the revocation of the motorway concessions, with the possible transfer of the activities to Anas. Today the Benetton company should have appointed Carlo Bertazzo managing director of the Italian activities
Movements in the car. fca yields 0,62%, while the bride-to-be, Peugeot , in Paris loses 0,85%. Jean-Philippe Peugeot, head of the holding Etablissément Peugeot Frères, said in an interview with the Est Républican newspaper that the family wants to exercise the option to increase its stake in the new company resulting from the merger by 2,5%. car manufacturers. Still in Paris the shares Renault (-2,82%) hit a six-year low, following advances by the FT on a plan by Nissan to leave the alliance. Shares of Renault and Nissan have dropped close to 40% since former CEO Carlos Ghosn was arrested in Tokyo in November 2018 for financial wrongdoing, which the manager denies.
