Piazza Affari reverses course. After a morning in (slightly) positive territory, the stock exchange Milano it takes the downward trend and around 15 pm there is 30%. The other main European price lists are also in red: Frankfurt -1% Paris -1,1% and London -0,8%.
Sales began to prevail over the Ftse Mib especially after the half verdict of the European Commission on the Italian budget law for 2017, which according to Brussels "risks not respecting the rules". In any case, the final verdict will arrive only at the beginning of 2017.
Bank stocks weigh on the main index of the Milanese stock market in the first place. The worst performances are those of the betrothed Banco Popolare (-4,7%) And Banca Popolare di Milano (-4,8%): Barclays cut the target prices of both banks, respectively to 2,4 euro (from 3,2 euro) and 0,4 euro (from 0,57 euro), confirming for the two institutions the Equal Weight judgment.
Very bad too Unicredit (-3,9%), despite HSBC confirming the Buy rating, with a target price of €2,85. Among the worst even the Banca Popolare dell'Emilia Romagna (-3,1%).
The luxury sector, on the other hand, travels at two speeds. The landslide continues Ferragamo, which adds a drop of 3,3% to -7% yesterday. Yoox Net-A-Porter, on the other hand, travels in positive territory (+0,8%).
Utilities still on the rise after the declines linked to the rising trend in interest rates: Terna + 0,5% Italgas + 0,6% A2A +0,4%. After a successful start it went red Enel (-0,2%).
The best title is that of fca (+ 1%).
Meanwhile, on the debt market, the spread between ten-year BTPs and German Bunds with the same maturity widens slightly to 172 basis points.
