banks e Telecom cheer the Ferragosto of Taurus. Business Square +0,66% thus places itself in first place in the ranking of the European stock exchanges, approaching the highs of the year. Meanwhile Exor, the Agnelli holding company listed on the Amsterdam stock exchange completes the day's operation buying 15% of Philips. The deal includes Exor's commitment to be a long-term minority investor with the right to propose a supervisory board member, as well as several standard terms. The agreement provides that Exor, at its discretion, may increase its stake up to a maximum of 20% of the ordinary share capital of Philips, one of the world leaders in biomedical equipment.
Banks and Telecom push the Stock Exchange upwards
To return to Business Square, the ranking of the best securities is occupied by the banks that are completing the recovery of the quotations reached before the decree on extra profits of which the premier Giorgia Meloni has maternity leave. But the market is convinced that, when the decree is converted into law, a soft version of the levy will prevail with the introduction of tax deductibility. Furthermore, the possibility of limiting the deductibility of interest is being evaluated. Splash up Monte Paschi Bank +4,4% ahead of Bper e Bpm Bank which are close to 3%. Salt too Mediobanca +1,1%: the management of the institute, according to rumors, is currently collaborating with Dolphin, shareholder with a 19,8% share of the capital, for the renewal of the Board of Directors which will take place in October 2023. At the moment, however, the position of Caltagirone, which owns a share of less than 10%, remains uncertain. Generali +1,2%: CFO Cristiano Borean said he was satisfied with the group's results in the first half, despite the difficulties in the insurance sector
It is included in the ranking Telecom +2,4%: Operators are convinced that it is possible to find a solution to the various problems of the sale of the network to the couple Kkr and Italian partners linked to the Treasury. After mid-August there will be a meeting between Kkr and Vivendi, the first shareholder of the Italian group. In the meantime, the Treasury will have to find the ten billion needed to conclude the operation, including the participation of Open Fiber.
Wall Street futures are also up
After the uncertain start, the other lists of the Old Continent are also on the rise, as are i Wall Street futures. Supporting the recovery are the rumors of prompt intervention by Beijing to limit, at least temporarily, the umpteenth real estate crisis. Country Garden has asked to be able to postpone the repayment of a bond in yuan maturing on XNUMX September. But another emergency is already looming, this time in the collection of savings. The Zhongzhi Enterprise. did not pay premiums and coupons for some of its financial products.
The future of the index S & P 500 is up 0,2%. Bond yields climb: Treasury Notes to 4,17%, from 4,09% on Friday. BTPs at 4,24%. Bunds at 2,62%. Cala the Petroleum of Texas to $82,5, down 1,3%.
