Wall Street's rebound did not affect European stock markets, down on the reopening of the stock exchanges also due to pressure on oil. In Milan, the Ftse Mib index, after a promising start, fell by around 1,10%, to around 19.600 points. The Parisian Cac40 loses 1,13%. Less heavy the descent of Frankfurt (-0,4%) And Madrid (-0,7%). London -0,7% after the announcement of early elections in Great Britain.
The titles of the raw material and the oil companies. Yesterday Brent lost 1% to 55,4 dollars a barrel, a price confirmed in this morning's trading. The increase in the production of US shale oil weighs heavily, sufficient to offset the decline in extractions from the OPEC countries. Eni down 1,4%, Saipem -2,1% Tenaris -3,1%.
The approaching French presidential elections, whose first round will be held next Sunday, does not seem to weigh particularly heavily on the euro for now. The dollar confirms yesterday's quotation at 1,065 against the euro, down from 1,061 last Thursday.
The US currency does not react to yesterday's statements by Treasury Secretary Steve Mnuchin, who contradicted President Trump by saying that a strong dollar is a good thing. Furthermore, the renewed tensions between the USA and North Korea limit the margins of the dollar's recovery.
In Istanbul the Turkish stock exchange marks a slight 0,1% gain after that the contested outcome of the constitutional referendum, which saw the narrow victory of President Erdogan and his proposal to transform the state into a presidential republic. The Turkish lira strengthened, to 0,36992 against the dollar (+0,2%).
At Piazza Affari the descent of Mediaset (-2,8%) and of Telecom Italy (-2,3%) a few hours after the Agcom verdict called to decide whether Vivendi can simultaneously be the first shareholder of Telecom Italy with 24% and second shareholder of Mediaset with 29%, or if this double role is against the law.
“Should the thesis of the Italian company be accepted – reads a note from the ICBPI – for Vivendi the freezing of the voting rights exceeding 10% of Mediaset could be ordered, with the consequent strengthening of Fininvest. In this case, in fact, Mediaset's board of directors could convene an extraordinary meeting for the introduction of multiple voting (increased voting rights for shareholders who have held shares for at least two years).
Among the blue chips it is only in positive territory Unicredit (+0,5%). According to La Repubblica, Unicredit could sell its stake in Mediobanca, which drops by 1,5%. The stake should be taken over by Intesa (-1,5%). B for Bank lose 1,2%, Bpm bank -3,2%.
According to what emerges from the communications of Borsa Italiana, Francesco Gaetano Caltagirone has rounded up the shareholding to approximately 3,6% of the share capital of Generali (+ 0,1%).
Difficult morning for industrialists. stm loses 3%, Leonardo unchanged, Fiat Chrysler -1,6% Cnh Industrial -2%.
