TELECOM RETURNS TO 1997 PRICES
MONTE PASCHI AND THE UTILITIES WELL
Lose shots in the final le Bags of the Old Continent.
In Milan the index Ftse Eb marks a drop of 0,43% to 15.529.
i also retreat European stock markets. London -0,41%, Paris -0,71%, Frankfurt -0,41%, Madrid – 0,76%, Zurich -0,83%.
After eight positive sessions Wall Street US stock market slows down in view of tomorrow's hearing of the president of the Federal Reserve in Congress.
Positive news arrives on the quarterly front from Goldman Sachs : the investment bank doubled its profit for the quarter, but after the rises recorded in the pre-stock market it gradually retraced and is now trading around -0,5%.
Instead, he disappointed the market Coca-Cola and recorded lower-than-expected sales due to the weakening global economy and unfavorable weather conditions. The stock loses 2,4% to 40,03 dollars.
Around 17 pm, the Dow Jones dropped 0,26%, the Standard & Poor's 500 0,55% and the Nasdaq 0,4%.
Il BTP it moved little at 4,45% and the spread with the Bund rose by two basis points to 291 basis points.
MontePaschi rises by 1,4% after yesterday the MontePaschi Foundation, the main shareholder, decided to support the proposal to abolish the statutory provision which limits the voting rights of shareholders other than the same to 18% at the extraordinary meeting of Thursday 4 July Foundation.
Bounce after the fall Banca Popolare di Milano + 1,99%.
In flexion Unicredit -0,78% Understanding -1,17% and Mediobanca -1,48%.
The best blue chip is A2A +3,25%. Among the utilities it also goes up Enel + 0,26%.
It also highlights Saipem + 3,17%.
The landslide of Milan weighs Telecom Italy down by 3,4%, new low since 1997. Yesterday the board of directors decided to substantially halt the procedure for the unbundling of the network, in reaction to Agcom's decision to lower rental rates.
It also moves back mediaset, the worst blue chip with a drop of 5,58% which cancels yesterday's jump of 7%.
Fiat it is down by 1,01%. Car registrations in Europe (EU 27 + EFTA) stood at 1,175 million vehicles in June, down 6,3% on the same period of the previous year. Fiat recorded a decline of 13,6%. Fiat Industrial +0,17%, Exor -0,46%.
Pirelli up 2,87%, in line with Michelin's +2,5%. Yesterday evening the French tire maker said that in June the market for original equipment tires rose by 2%, that for replacement tires by 3%. Strong decline for Finmeccanica -2,5%. Fitch downgraded to BB+ with negative outlook.
Outside the main basket, note the leap of Cir which rises by 5,8%.
