THEEU cuts estimates of Italy's GDP, pushing Piazza Affari downwards and the spread upwards. There Milan Stock Exchange it takes the downward path in the mid-morning and at the beginning of the afternoon it manages to yield 1.5%, to 19.700 points. Meanwhile, it BTP-Bund spread it travels upwards, exceeding the threshold of 280 basis points, after closing yesterday at 266.
In this scenario, the counter-current flight of Unicredit (+2,1%) and del Bpm bank (+2,8%), driven by the positive results of 2018.
The worst title of the Ftse Mib is instead fca (-3,5%) who will illustrate the results for the fourth quarter and for the whole of 2 around 2018 am from London.
In detail, the estimates of the European Commission on Italy's 2019 GDP have dropped from 1,2 to 0,2%. The calculations - they specify from Brussels - also take into account the effects of the maneuver launched last December.
About the news arriving from the EU, Interior Minister Matteo Salvini commented: “I never like to talk about those who have never caught the forecast. In the last 10 years they never once caught us. In your opinion, if you put 20 billion euros back into the pockets of Italians, will the economy go backwards or forward? Let's meet next year and see if we were right or if the economists were right, that if they played in the Totocalcio they would score 3”.
Deputy Prime Minister Luigi Di Maio also spoke on the matter, stating that he confirm “the economic prospects. I don't know what the economic situation will be, what I know is that we must secure people in difficulty with welfare tools. We inject 8 billion euros a year into the real economy".
The Secretary of the Treasury, Giovanni Tria, speaking in Parliament, in any case ruled out the need for a corrective maneuver and, speaking of the latest Istat data, underlined that Italy's slowdown is "a setback" rather than a recession". Tria's intervention in the Chamber was interrupted several times by protests from the opposition.
