STOCK BAGS BEFORE THE VOTE. MILAN -1,32%
GS BOCCIA FIAT. TOD'S AND FERRAGAMO ARISE
A downturn for the start of the week for Piazza Affari and the other European stock exchanges: the Ftse Mib index of Piazza Affari drops by 1,32% to 15561 with widespread declines among the blue chips.
There is a climate of caution on the markets due to the uncertainty about the outcome of the presidential elections in the United States. The most feared outcome is a narrow advantage between the duelists, which could affect the solutions to avoid the fiscal cliff, the nightmare / catchphrase of the markets. If Congress does not reach an agreement after tomorrow's elections, spending cuts and tax increases of about 600 billion dollars will be triggered from January XNUMX, which risk causing the US economy to slide into recession.
Even the events in Greece have once again worried investors. This week the Athens Parliament will have to approve the new austerity plan which provides for further cuts in a political climate that is heating up.
A possible political crisis looms over the vote on the measures, in which many MPs threaten not to vote unless the list of tax evaders is clarified first. The list compiled by the former French finance minister, Christine Lagarde, had disappeared, but a few weeks ago it reappeared.
On the government bond market, the 10-year BTP falls, with the yield rising to 4,96% and the spread at 354 (+7 basis points).
The London Stock Exchange falls by 0,59%. Frankfurt -0,63%, Paris -0,92%.
Only three blue chips travel in positive territory in Milan: Diasorin +0,74% and luxury spacecraft Ferragamo +1,29% and Tod’s + 0,59%.
All banks down: MontePaschi -1,6%,Understanding -1,8% Unicredit –1,2%. Mediobanca falls by 1,6%.
Weak too Eni is loses 0,6%, Saipem -0,9%, Tenaris it fell 1,7% after Exane cut its target price by 5% to 18 euros.
Fiat drops by 1,4%. Goldman Sachs, after having sustained flattering targets for the Ingot for more than a year, has adapted to the rest of the market: lowered the recommendation to neutral da buy with the target price cut to 4,7 euros from 7,7 euros.
Fiat Industrial , on the other hand, rose by 0,13%: Bank of America raised its target price to 8,7 euros from 8,3 euros. Judgment confirmed neutral.
Mediaset -0,79% after the start of an increase linked to press rumors according to which the French Canal+, controlled by the Vivendi group, would be interested in acquiring the Mediaset Premium platform.
In decided decline the Juventus -4%, in the wake of the defeat against Inter in Saturday's match.
