The German Ifo index improves more than expected, on the wave of expectations for the third bailout package from Athens. Philips +3,6% opens the European quarterly season with flattering numbers. But the good news on the market front ends there.
In fact, the shock of the new collapse of the Shanghai Stock Exchange weighs on the Old Continent, -8,6%, in free fall after three weeks of recovery drugged by strong government stimuli. The negative industrial situation accelerated the descent, accentuating among other things the collapse of commodities.
Brent fell by 0,4% to 54,4 dollars a barrel, WTI lost 0,5% to 47,9 dollars. Oils retreat: Eni -0,9% Saipem -0,3%. The dollar was down against the euro, trading at 1,108, up 0,9% on Friday (1,098).
At Piazza Affari Fiat Chrysler Loses 2,5% after a $105 million fine imposed in the United States for negligence in handling defective car recalls. Exor also fell -0,20%, one step away from the award of Partner Re after the pronouncement of the proxy fighter Iss. Also in view is the acquisition of a further stake in The Economist.
Finmeccanica drops by 1%. The holding has leaked, through an article in the Financial Times, its intention to no longer sell the US subsidiary Drs. The subsidiary Selex has won an order in Qatar. In parity StM. Prysmian drops by 2,3%.
Among the banks Unicredit lose 1,3%, MontePaschi -1,3%. Understanding falls 2,6% after the downgrade by Goldman Sachs which cut the recommendation to Neutral from Conviction Buy.
