The shower of sales on the Stock Exchanges that began yesterday on Wall Street continues. TO Milano the Ftse Mib index fell by 0,4% just above 19.800 points. The other markets of the Old Continent were in the red with losses between 0.6 and 0,8%. The abrupt turnaround was caused by a wave of uncertainty about the timing and effective capacity of the new president to initiate the tax reform and the infrastructure investment plan already priced in by the markets.
The cross euro-dollar falls again just below 1,080. The greenback slipped to its lowest level in the last four months against the yen, a traditional safe-haven asset, following the decline in yields on the US curve.
Continue the descent of Petroleum: Brent is trading at 50,6 dollars a barrel (-0,5%). Analysts expect a new increase in US inventories, the figure in the afternoon. Eni (-0,2%) and Saipem (-1%) fell back in Piazza Affari.
Sixth consecutive day of gains forgold, at 1.247 dollars an ounce (+0,2%). Government bond yields fall: the BTP it is trading at 2,27% (from 2,31% yesterday); Bund to 0,42% (from 0,45%). Spread unchanged at 185 basis points. Home sales data is being released in America today.
In Piazza Affari morning of passion for Fiat Chrysler: -4% to 9,515 euros at the opening to then go back up to 9,90 euros -2,5%. The investigation opened by a French public prosecutor's office on the emissions of its diesel engines weighs heavily. With FCA, Exor (-1,8%), Cnh Industrial (-1%) and Brembo (-1,1%) are down.
On the contrary, it moves against the trend Leonardo (+0,5%). In the previous three sessions it lost 8 percent. Meanwhile Salvatore Bloise, investigating judge of the Court of Lagonegro has indicted Alessandro Profumo for bank usury, as former president. The trial will open on May 23. The decision of the gup is from March XNUMX last year.
The entire European banking sector is weak, the Eurostoxx Banks index loses 2,2% in the wake of the correction by US banks: -4% yesterday. Unicredit retreats by 2,4%, Understanding -1,9% Bpm bank -2,9% B for Bank -3%.
Pop. Vicenza e Veneto Bank they would be in the process of extending the deadline for at the latest to next Monday adherence to the settlement offer proposed to the old shareholdersoriginally scheduled for today. A decision could be made tonight. Currently, membership would have exceeded 60%, the initial target was to reach an 80% membership rate.
The two banks hope that the Opt can be closed with at least 70% of adhesions, a sufficient threshold to at least partially defuse the risk associated with compensation and therefore to allow the State to enter the capital.
Unchanged Telecom Italy: Credit Suisse raised its target price to 1 euro from 0,9 euro. Neutral judgment confirmed.
The best title of Piazza Affari is TerniEnergia (+9%). During the meeting with analysts at the Star event of Borsaitaliana, the management announced that large-scale contracts could be signed within the next few weeks for the construction of photovoltaic plants in Africa and Iran. Overall, this would be more than 1 gigawatt of installed power.
The French group lactalis ha the tender offer subscription period reopened today su Parmalat from 29 March to 4 April, refraining from exceeding the 90% threshold set at the time by Consob. So the stock remains listed on Piazza Affari and cannot be delisted as the French wanted when they launched the takeover bid.
