Pazza Affari lost 1,11% (and dropped to 20.485 basis points) on the day of the official opening of the government crisis, with the announcement of the resignation of Prime Minister Giuseppe Conte in the Senate. The Milanese price list, nervous in the morning, partially stems the losses in coincidence with the incandescent afternoon debate at Palazzo Madama, but then takes the road of sales again in the last half hour. The political future is still uncertain: Conte harshly attacks Deputy Prime Minister Matteo Salvini, yet the leader of the League does not rule out collaboration with former allies on cutting parliamentarians and maneuvering.
Meanwhile, PD leader Nicola Zingaretti, in a note, freezes the prospect of a PD-5-star government and Matteo Renzi says that the VAT increase must be avoided and therefore an executive is needed. There is a lot of confusion under the sun, but the Italian card gains and the secondary changes sign on the run: negative in the morning, turns positive in the afternoon. The spread between the 10-year Btp and the Bund fell to 203 basis points (-2,55%) and the Italian ten-year yield fell to 1,34%.
The other European lists were also weak: Frankfurt -0,55%; Paris -0,5%; Madrid -1,22%; London -0,85%; Zurich -0,55%. Wall Street's opening bell is out of tune, rising after three sessions, while purchases focus on Treasuries whose prices are rising. US stocks are cashed in on the eve of the publication of the minutes of the last Federal Reserve meeting and pending the start of the Jackson Hole meeting which will be attended by the president of the American central bank Jerome Powell.
Yesterday the expectations of a new intervention on the cost of money were partially disappointed by the chairman of the Federal Reserve of Boston, Eric Rosengren, who criticized any new rate cuts. Furthermore, US-China relations remain wary, in the light of an editorial published by People's Daily, a newspaper controlled by the Communist Party of Beijing, in which it is argued that linking the events in Hong Kong to trade negotiations is a "dirty" goal. Among the other international hot fronts, we should point out a new thud in the Argentine stock market, -8% at the opening, after yesterday's holiday break. At the same time, one dollar buys 55,58 pesos (+1,43%).
The euro-dollar, on the other hand, is slightly in favor of the single currency and moves around 1,109. Gold is back in vogue and rises slightly to 1513,85 dollars an ounce, while oil falls: Brent -0,44%, 59,48 dollars a barrel; Wti -0,78%, 55,7 dollars a barrel.
In Piazza Affari the banks are negative, after the gains on the eve: Bper -3,18%; Banco Bpm -2,56%; Ubi -2,38%; Unicredit -2,24%. Atlantia also fell -2,98%; Buzzi -2,89%; Pirelli -2,08%.
The purchases reward Juventus, +3,73%, driven by rumors of an interest from the Juventus club in the Brazilian champion Neymar. Good Amplifon +2,88%; Prismian +1,01%. Positive insurance: Unipol +0,91%; Unipolsai +0,58%; Generals +0,28%; Ideas on luxury with Ferragamo +0,25%. Leap for Tod's +8,11%, after the Consob update from which we learn that the aggregate share held by the patron Diego Della Valle has risen to 81,19%, while Caisse de Depot et Placement du Quebec has reduced its stake to 2,2% from 5,16% held since May 2018.
