Weak stock markets following the ECB meeting which left rates unchanged and did not introduce new monetary policy measures. The Ftse Mib loses 0,3% weighed down by Buzzi Unicem -2,6% Recordati -1,71% Campari -1,33% Terna -1,22% and Unicredit -1,09%.
Ps -0,49% after Viola's resignation and awaiting the new appointment to lead the bank. We are moving towards a flash replacement to respect the timing of the presentation of the new industrial plan to the market and for the start of the capital increase which, according to sources quoted by Reuters, could be postponed by a few months. The Ministry of the Economy, which is also a 4% shareholder of the institute, announced that "the situation is under control", confirming that the appointment of the new CEO of Rocca Salimbeni will take place shortly. Marco Morelli, Merrill Lynch's number one, seems to be on pole.
Eyes up too bpm -0,10% and Banco Popolare -0,08% after the Bank of Italy issued the authorization for the wedding "considering the outcome of the investigation conducted" and "the absence of objections from the ECB". Already today, the granting of the banking license that will allow Banco Bpm to operate should also arrive from the ECB.
countercurrent instead above the percentage point Unpol + 1,6% Generali + 1,35% Azimuth + 1,3% A2A +1,12%. Il Sole 24 Ore reports that in recent weeks Telecom Italia has signed an agreement with A2A for the joint development of fiber optic infrastructure in Milan.
In Europe Paris loses 0,42%, Frankfurt 0,34% and London 0,26%. Hong Kong stocks closed up 0,75% after the release of data on China's inflation in August which fell to its lowest level in a year. Shanghai finished down 0,55%. Tokyo +0,04%
On the central bank side, markets are now looking to the September 21th day it will meet both the Bank of Japan and the Fed (whose meeting starts on 20 September).
Lo Btp bund spread is at 120 basis points and yielding 1,19%. The Treasury announced the amount of the medium-term auctions on Tuesday 16th. They will be offered from 1,5 to 2 billion 3-year BTPs, from 3,5 to 4 billion of the new 7-year BTPs; from 750 million to 1,25 billion of the Btp at 20 years and from 500 to 750 million of the Btp at 30 years.
Sul macro front this morning Germany published data on its trade surplus which fell to 19,4 billion in July, due to a sharp contraction in exports. Exports fell by 2,6% on month (-6,5% on year) to 97,1 billion, the lowest level since January 2015. Imports decreased by 0,7% on month (-10 % on year) to approximately 77,7 billion. In France, industrial production fell by 0,6% in July, after the 0,7% drop recorded in June. In Spain, industrial production increased by 0,2% quarter on month in July, with a rise in the energy sector which compensated for the decline in consumer products.
In Great Britain, the trade deficit fell in July to 11,8 billion pounds from 12,9 billion in June, in line with forecasts. The trade deficit with non-EU countries fell to 4,2 billion from 4,7 billion in June
