The stress tests, as feared, have not cleared away the uncertainties about the banking system. It is the only certainty in a horizon that signals the utmost confusion judging by the price swings in the credit sector (Eurostoxx -1,6%). In Milan, the Ftse Mib index falls by 0,7%, around 16,700 points, after an upward start of up to +1,4%. During the session, the earnings of credit companies went up in smoke, not only in Italy. The European Stoxx index of banks falls by 0,6% (from an initial rise of 1,3%). Frankfurt remains positive (+0,4%), down Paris (-0,4%) and Madrid (-0,7%). London unchanged.
Don't fear sales surges Mount Paschi (+4,09%): the market likes the guarantees offered by the recovery plan based on the sale of all non-performing loans and a subsequent capital increase of 5 billion euro.
On the contrary, it falls Unicredit (-7,5%) which had also recorded a 3% increase at the start. After the stress tests, writes Equita, "the pressure to recapitalize is growing further". An increase of 5-6 billion will be needed for Ubs. The other stocks also lost ground, including those that passed the stress tests. Ubi leaves 5,1% on the ground, Banca Pop.Emilia -3,2% Pop.Milan -1,9%.
Sales have also hit Understanding (-2,6%), despite being the most solid bank in Europe in the stress tests. Salt instead the Banco Popolare (+ 0,6%).
Outside the world of credit Snam rises on the day of the meeting (+0,6%). The ceramics entrepreneur Romano Minozzi has increased his stake in the gas transport company from 3% to 4,29 of the capital.
Back off Mediaset (-0,5%): in an interview, the CEO of Vivendi said that the French group can also not make any agreement with the Italian TV company, which instead reiterates the binding nature of the contract signed between the two groups May. “But then – comments Arnaud de Puyfontaine – we were offered a Ferrari which turned out to be a Fiat Punto”.
Brent loses 1% to 43,1 dollars a barrel. Eni rises by 0,1%, Saipem -0,1%. Among industrialists, Buzzi (+1,2%), Prysmian (+1,2%) and Cnh Industrial (+1,4%) rose.
