Share

Milan stock exchange doing well with Telecom and Yoox, surge in the euro

Contrasted European lists penalized by the single currency which comes close to 1,18 on the dollar. Piazza Affari is the best with utilities: Italgas and A2A shine. Banks in no particular order but Carige is full of purchases. Luxottica in difficulty - Fincantieri recovers on the eve of the meeting in Rome on the Saint Nazaire case - Oil down - Inflation does not rise

Milan stock exchange doing well with Telecom and Yoox, surge in the euro

Piazza Affari closes at the top of the European lists a moderately positive session, +0,26%, 21.486 points, while the spread between the Italian and German ten-year bonds drops to 155.00 points.

Yoox, +3,06% among the big names; still sales instead for Luxottica, -3,32%. Among the other stocks, Banca Carige is worth mentioning, +10,72%, which is making full purchases, with the start of the capital strengthening plan.

Contrast the other squares of the Old Continent. In red Paris -0,73%; Frankfurt -0,37%; Madrid -0,14%. London closes without momentum +0,05%, on the day Theresa May announces that the free movement of people between Great Britain and the European Union will end in March 2019 when the United Kingdom leaves the bloc.

Also Wall Street travels at different speeds. The Dow Jones refreshes all-time highs, with investors remaining optimistic on second-quarter corporate results, while the S&P and Nasdaq, after a bullish start, are now trading in negative territory.

The oil rush stops: Brent -0,34%, 52,04 dollars a barrel. Gold was stable at 1267,8785 dollars an ounce.

Euro rally against dollar, 1,1787, +0,29%, with unemployment reaching its lowest level in Europe since 2009 and inflation in line with expectations. Even in Italy the employment situation is improving and the bond market appears to be tonic. The yield of the 10-year BTP stands at 2,09%, the spread with the German Bund drops to 155.00 (-1,52%), albeit in a session with a summer flavor and thin volumes.

The best blue chips in Piazza Affari today are Yoox; Banca Generali +1,8%; Telecommunications +1,93%; Italgas +2,02%; Prismian +1,46%. A2a also did well, +1,41%, which entered into an agreement with Telecom Italia and with Open Fiber, controlled by Enel and Cdp, for the laying of optical fiber. 

On the opposite front stands Luxottica, always in the wake of Essilor's data and forecasts. Deep red for Leonardo -1,93% and Tenaris -1,62%. Weak Bper -1,11%, in an uneven financial sector. Fractional loss for Mediaset -0,78%.

Outside the main basket, purchases are pouring into Banca Carige after the announcement that, this week, it will officially start the process of selling the 1,2 billion NPL portfolio, the problem loan management platform, some real estate assets, the subsidiary Creditis and the merchant book business.

Piaggio rally +8,8% with quarterly accounts and forecasts. Finally, Fincantieri recovers a further 2,04% on the eve of the meeting between France and Italy to explore the possibility of an agreement on Stx France, after Paris on Thursday announced its intention to exercise its right of first refusal on shipyards.

comments