The auto sector under the scrutiny of investigators and Spain increasingly divided, but the European stock exchanges are holding up, with the exception of Madrid, down by 0,6%, proven by the Catalan situation. The nationalists are ready to vote on the unilateral declaration of independence on Thursday, anticipating the commissioner by 24 hours. Wall Street opens cautiously, even if the Dow Jones further updates its records.
Milan closed up 0,14%, 22.379 points, with Stm +4,32%, at the top of the main list and Saipem -2,58%, at the bottom. Fiat, -0,49%, is weak following the rumors of Le Monde according to which the manufacturer would have shown "reticence to collaborate with the services to suppress fraud between May 2016 and January 2017". The group led by Sergio Marchionne, on the other hand, says it is ready to collaborate as it has always done. Meanwhile, the offices of Volkswagen (+0,46% in Frankfurt) and Daimler (+0,59%, also on the Dax) were raided during the day as part of the European Union's investigation into an alleged cartel between German manufacturers .
In this context: Paris, +0,27%; Frankfurt +0,09%; London +0,02%. Bonds are doing well: the Italian 2,01-year yield falls to 157.00% and the spread with the German Bund stops at 1,57 basis points, down by XNUMX%. Investors seem indifferent to the consultative referendums on the autonomy of Lombardy and Veneto, while they are focused on the ECB meeting on Thursday, when it will talk about QE. The prevailing belief is that Eurotower will choose a soft reduction in purchases.
The euro remains weak against the dollar, with the cross fluctuating around 1,174. The greenback also appreciated against the yen, with the Japanese currency declining after the confirmation of Prime Minister Shinzo Abe in the elections and the odds in favor of maintaining an ultra-expansive monetary policy. On the other hand, Tokyo's Nikkei index set the record (+1,11% to 21.696 points).
Oil changed sign during the session, with Brent currently down 0,5%, at $57,29 a barrel. Stable gold. In Piazza Affari, Bper regains its color, +1,46%, also in the wake of the news that the subsidiary Banco di Sardegna has launched an analysis in view of a possible deconsolidation of a large part of its non-performing loans through a securitization.
In a week full of quarterly reports Italgas opens the ball exceeding expectations and is rewarded on the Stock Exchange, +2,15. Buzzi +1,63% and Campari +1,01% did well. The worst stocks, after Saipem, are Mediaset -1,43%; A2a -0,97%; Ynap -0,86%; Atlantia -0,84%.
Outside the main listing, real estate securities such as Aedes +4,63% are revved up, on the possibility that the current legislation on Individual Savings Plans (PIR) may also apply to securities in the real estate sector, as required for some time by the companies involved to attract investments in the sector.
