The increase in coronavirus infections continues to worry investors, weighing down European stock markets. It is above all France that is frightening (over 16 infections on 24 September) where Prime Minister Jean Castex has made it known that he does not rule out the arrival of a new lockdown if the epidemiological situation in the coming days does not show signs of improvement: "If we do not act – he said – we could find ourselves in a situation close to the spring one. And this could mean a re-confinement, if the situation were to get even worse". The French Prime Minister's words add up to the alarm raised yesterday by the EU Health Commissioner, Stella Kyakides, who invited Governments to act urgently "if they want to avoid being forced to decree new total closures" due to the risk of infection.
The specter of new lockdowns frightens the price lists and the prospect of the US putting in place a new fiscal stimulus package for the economy is not enough to lift morale. In the middle of the day, all the European stock exchanges are in red: Paris (-1,64%), Frankfurt (-1,62%) And Madrid (-0,9%). Weak London (-0,5%).
Well theresemi-annual bot auction with declining yield: the Treasury issued 6,5 billion 6-month bonds maturing on 31/03/2021, achieving a yield of -0,392%, down by 6 cents compared to the previous month's auction. Good demand at 13,03 billion euros.
Black jersey of Europe a Business Square which at 13 pm dropped by 1,79%, falling to 18.567 points.
In Milan the focus is still on the banks, with Bpm bank which, after the exploit on the eve, leads the rises (+1,86%) driven by rumors about the possible banking risk. The other securities in the sector are uncertain, paying the warning launched by the vice president of the EU commission, Valdis Dombrovskis, on the possible worsening of the quality of assets and the ability of banks to provide credit and a parallel increase in NPLs. Unicredit -1,13% Intesa Sanpaolo (-2,14%), B for Bank (-3%).
Eyes also on Atlantia (-2,17%) after the board's decision to give the go-ahead to the dual track process for Autostrade per l'Italia: sale or spin-off with IPO.
However, they are placed at the bottom of the Ftse Mib stm (-3,7%) And Azimuth (-3,1%), while on the other side of the barricade the utilities stand out with Snam e Terna which rise respectively by 0,66% and 0,61%.
Outside the Ftse Mib, keep an eye on the performance of Daniel. On Thursday the board of directors resolved to submit to the shareholders' meeting the proposal for the "mandatory conversion of savings shares into ordinary shares, on the basis of a conversion ratio of 0,65 ordinary shares for each savings share", as well as "the distribution of an extraordinary dividend of 1,2 euros for each existing and newly issued ordinary share resulting from the conversion”. Following the announcement, ordinary shares gained 7,73%, while savings shares rose by 13,65%.
A hint to other markets: on bonds, the spread rises by 2,44% to 141 points, while Brent oil travels on par, touching 42 dollars a barrel. On the currency, the euro trades at 1,647 dollars (-0,2%).
