In the wake of Wall Street it slows down with current sales on European lists. In Milan the index Ftse Eb after midday, it recovered 0,87% around 15.800 points, slowing down on an initial rebound of 2%. The rise in Paris +1,6 and London +1,5% was more robust, despite the ongoing crisis in six British funds (three others blocked redemptions this morning). Frankfurt and Madrid are up 1,5.
Breath of fresh air for the GBP rising from the lows of the last 31 years to 1,298. L'euro it is close to the session lows against the dollar (1,1074) following the disappointing data on German industrial production which recorded a 1,3% drop in May, the largest since August 2014.
The prices of safe-haven assets signal that tensions remain high. L'gold is up for the seventh consecutive day at 1.367 dollars, the yield on the 0,17-year Bund is at -0,20% (historic low -XNUMX%). The Brent it gained 2% from yesterday morning to today and is traded at 49,4 dollars a barrel. Saipem rises by 4% after the awarding of contracts for 1,5 billion euros. Eni +0,6%, Tenaris +1,6%.
In the Italian list the banks they move in opposition. Monte Paschi is down 3,4%, even though Consob has extended the ban on short selling for three months. From today until October 5, short positions will not be allowed. A similar measure was taken, after yesterday's sharp reductions, on Credito Valtellinese -1% and up Telecom Italy which still marks -1,6% even today.
Returning to the credit sector, the shareholders' meeting is held today People of Vicenza. In a letter to the local newspapers, the president of Quaestio Alessandro Penati writes that the Atlante fund will take into consideration any expressions of interest for an entry into the capital of Banca Popolare di Vicenza "only if coming from subjects capable of guaranteeing a real capital injection and that have the IPO as their objective”. This morning Corriere della Sera reported an expression of interest from four American funds (Atlas Merchant Capital, Warburg Pincus, Centerbridge and the hedge fund Baupost) to take over both the popular Vicenza-based company and Veneto Banca with the idea of merging the two institutes.
Starting up, Banco Popolare loses 5%. Under the lens there is always the uncertainty of stress tests. Same fate for Banca Popolare Emilia Romagna -3%. According to rumors, he is about to sell 450 million euros of non-performing loans. Intesa Sanpaolo, on the other hand, is up by +2%. Exane has raised the recommendation to Outperform from the previous Neutral. President Gian Maria Gros Pietro ruled out the possibility of involvement in the rescue of MPS. Unicredit -0,3% is back in negative territory. Ubi Banca +0,2%. Exane has raised the recommendation to Outperform from the previous Neutral.
The Asset Management sector reacts: Azimut and FinecoBank +2%, General Bank +3%. Generali +2%, The company has announced the terms of the CEO's incentive plan: Philippe Donnet will have the right to exercise call options on 200.000 shares if the rise from today's prices is 72%. Among Prysmian industrialists +3,5%. Exane raised the recommendation to Underperform from Neutral. Leonardo +1,7%,
